Windward launches Company Risk Insights due diligence tool

Predictive Intelligence company Windward has launched ‘Company Risk Insights’ which it said used artificial intelligence to produce “a holistic risk assessment” of every company in the maritime domain.

Windward said that this improved any counterparty due diligence process or networking analysis.

Company Risk Insights accesses a new ownership data repository, risk indicators, data sets, and behavioural models to provide Windward users with a risk assessment of all maritime-related entities. This includes a beneficiary list up to and including the Ultimate Beneficial Owner.

Windward noted that maritime ownership structures were inherently complex; this meant that they could be exploited by bad actors seeking to perpetrate financial crimes such as fraud and money laundering.

In April 2021 FinCEN gave notice that it would be launching regulatory processes for beneficial ownership reporting requirements under the Corporate Transparency Act.

In partnership with Dun & Bradstreet, Windward is providing a full beneficiary list, including all beneficial parties, individuals, or corporate entities up to and including the UBO to support the risk assessment of non-maritime entities.

Windward has also partnered with LexisNexis to enable an automatic screening of all vessels and companies against 130 local and international blacklists, including major sanctions lists.

Windward provides a risk rating for each maritime company, with explanatory information regarding the relevant risk.

Ami Daniel, CEO and Co-Founder of Windward, said that “at Windward we pride ourselves on providing our customers with insights that go beyond the data and we empower them to make business savvy decisions with confidence that follow all the latest regulations. With Company Risk Insights, we are using more data, machine learning algorithms, and behavioural models to bring even more value to our partners and further establish Windward as the gold standard in maritime risk management.”