Windward to Enhance Shell’s Trade Compliance Processes
Shell International Trading and Shipping Company Limited is to integrate Windward’s proprietary AI-powered Predictive Intelligence solution to further streamline its trade compliance processes, Windward announced yesterday.
Increased regulatory requirements introduced over the last few years have led energy companies to turn to best-in-class technology solutions that provide a clear KYV™ (Know Your Vessel) due diligence process that will streamline business operations. Windward’s advanced digital solutions enable global shipping companies like Shell to quickly and effectively verify that potential business partners are not a compliance risk.
Windward’s technology solution is powered by advanced algorithms based on 300 behavioral analytics models and over 10 billion data points to facilitate business and operational excellence, enabling its clients to trade with greater confidence.
“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 digitalization 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 announcement of its partnership with bp Shipping as well as partnership agreements signed with OQ Trading and Freepoint Commodities. With these new partnerships, Windward’s energy customers now account for approximately 40% of the world’s oil trading. In addition, Windward’s customers also insure nearly 65% of the world’s shipping fleet by tonnage.