RCS - Windward Ltd. - Non-Maritime Counterparties Due Diligence Launch

WindwardAnnouncement

26/04/2022 07:16

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220426:nRSZ2706Ja&default-theme=true

RNS Number : 2706J  Windward Ltd.  26 April 2022

 

RNS Reach

Windward Ltd.

("Windward", "the Company")

Windward Expands its Due Diligence Offering to Non-Maritime Counterparties
Providing Full Third-Party Screening in One Platform

Windward taps into best-in-class data sources to enable companies to complete
an end-to-end due-diligence process through its AI platform

London, UK, April 26, 2022 - Windward (https://www.windward.ai)  (LSE:
WNWD), the Predictive Intelligence company applying AI to transform global
maritime trade, announced today the launch of its Non-Maritime Counterparty
Due Diligence (https://windward.ai/solutions/due-diligence/) (CDD) capability.
The capability will enable Windward's customers to complete their
due-diligence process with full third-party screenings all in one platform.
This will enable smarter business decisions, reduce overall costs, and
simplify investigation workflows.

In today's regulatory environment, counterparty due diligence is increasingly
important. Companies involved in sanctions violations, bribery of government
officials, or doing business with known malicious actors have received
significant fines whether the infraction was intentional or not. Often the
damage done to a company's reputation can cause significantly more financial
damage than regulatory fines through loss of customers, revenue, and
valuations. Companies involved in international trade need to have a
comprehensive awareness of risk related to all entities they do business with
to ensure reputational and regulatory safety.

The new capability rounds out Windward's existing suite of due diligence tools
for vessels, cargo, and seven layers of ownership structures up to and
including Ultimate Beneficial Owners. The launch provides Windward's customers
with a screening feature that enables them to go beyond the maritime ecosystem
and screen all companies and individuals, both non-maritime and maritime.

Windward's customers can now understand and mitigate risks associated with
third parties including customers, vendors, employees, contractors, and others
with a greater focus on sanctions, watchlists, adverse media, and politically
exposed persons. Organisations are increasingly making decisions not only for
legal reasons but for ESG considerations or "moral sanctions" as well, which
have significant implications on a company's reputation and customer and
employee retention.

"ESG considerations are becoming increasingly critical for any company in the
world,'' said Ami Daniel, Co-Founder and CEO of Windward. "Additionally,
sanctions regimes are constantly changing, and they go far beyond just the
maritime industry. As economic sanctions become even more common, the more we
will see companies trying to evade these sanctions, use deceptive shipping
practices, and try to disguise their connections to illegal or sanctioned
entities. Companies that wish to remain risk-free must adapt and bolster their
due diligence processes to screen all entities they do business with, both
within and outside the maritime domain, and Windward with its one-stop shop is
providing just that."

Windward's Maritime AI solution is powered by advanced machine learning and
behavioural analytics models, empowering its clients across the government,
finance, shipping, energy sectors, and beyond to optimize business practices
and efficiently navigate all aspects of maritime risk in real-time.

For more information, please contact:

 Windward Ltd.                                       Via Alma PR
 Irit Singer, CMO

 Canaccord Genuity (Nominated Adviser & Broker)      +44(0)20 7523 8000
 Simon Bridges / Andrew Potts

 Alma PR                                             +44(0)20 3405 0205
 Caroline Forde / Kieran Breheny / Hilary Buchanan

 

About Windward

Windward (https://windward.ai/)  (LSE:WNWD), a publicly traded company on the
London Stock Exchange, is the leading Predictive Intelligence company fusing
AI and big data to digitalize the global maritime industry, enabling
organizations to achieve business and operational readiness. Windward's
AI-powered solution allows stakeholders including banks, commodity traders,
insurers, and major energy and shipping companies to make real time,
predictive intelligence-driven decisions, providing a 360° view of the
maritime ecosystem and its broader impact on safety, security, finance, and
business. For more information visit: https://windward.ai/
(https://windward.ai/) .

 

Reach

 

This is a Reach announcement and the information contained is not considered
to be material or to have a significant impact on management's expectations of
the Company's performance. Reach is an investor communication service aimed at
assisting listed and unlisted (including AIM quoted) companies to distribute
non-regulatory news releases into the public domain. Information required to
be notified under the AIM Rules for Companies, Market Abuse Regulation or
other regulation would be disseminated as an RNS regulatory announcement and
not on Reach.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAUVONRUVUSUAR