Shell’s shipping division has agreed a new deal to integrate AI-powered Predictive Intelligence systems from Israeli company Windward to assist in management of trade compliance processes.
Shell International Trading and Shipping Company can use the service to support KYV (Know Your Vessel) due diligence activities and effectively verify that potential business partners are not a compliance risk.
The software algorithms are based on 300 behavioural analytics models and over 10 billion data points analysing vessel movements and trade patterns.
“We are thrilled to announce our agreement with Shell, a company at the forefront of technology adoption, to provide them with the latest solution for regulatory compliance and risk analysis,” said Ami Daniel, Co-Founder and CEO of Windward.
“The partnerships we have established in the last year highlight the major shift across the energy and trade finance sectors towards digitalisation and the use of AI-powered, commercial technology to enhance business practices. We are proud to be a partner on this journey that is transforming the future of the global energy industry.”
The agreement with Shell follows Windward’s recent announcement of a partnership with bp Shipping, as well as other partnership agreements with OQ Trading and Freepoint Commodities.
