Dubai, United Arab Emirates: Al Fardan Exchange L.L.C., one of the UAE’s leading financial services providers, has recently announced a corporate partnership with Windward, the Predictive Intelligence company applying AI to transform global maritime trade, offering support to Al Fardan Exchange’s compliance team through the monitoring of vessels and mitigation of sanction related risks.
Windward’s AI-powered Predictive Intelligence solution is based on more than 300 behavioral analytics models and over 10 billion data points. The company’s proprietary platform provides financial institutions, insurers, shipowners, energy companies, and all stakeholders in the maritime domain with a 360° view of maritime risk that supports sanction management strategies and compliance processes.
As more demanding regulations target the broader maritime ecosystem, financial institutions are now required to enhance the evaluation of the customers they conduct business with. Windward’s solution will enable Al Fardan Exchange’s compliance team to conduct enhanced due diligence on maritime trade-related transactions and shipments. This will greatly enhance Al Fardan Exchange’s ability to mitigate risks associated with trade-based money laundering and global sanctions.
Hasan Fardan Al Fardan, CEO of Al Fardan Exchange L.L.C., said, “We are thrilled to announce this partnership with Windward. We pride ourselves on having a deeply embedded compliance culture that resonates across all levels of our organization. The maritime risk insights provided by Windward provides opportunities to expose money laundering and fraud risks posed by maritime entities. At Al Fardan Exchange we are constantly looking for new and innovative ways to ensure we are offering our customers the safest, most secure services possible. This is a fantastic step further in our innovation plans, creating a path towards an even more transparent future”.
Commenting on the partnership, Chris McLeese, Commercial Director of Windward, said, “We are delighted to be chosen as a valued partner of one of the UAE’s leading exchange businesses to bolster compliance operations. Al Fardan Exchange is consistently raising the compliance bar and working with innovative partners to help fight financial crime in the GCC. We are thrilled that an innovative and future thinking organization has chosen Windward’s AI-powered solution to help mitigate trade and maritime related risks.”
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About Al Fardan Exchange
Al Fardan Exchange L.L.C is a member of the Al Fardan Group, one of the leading family-owned conglomerates in the region with a 50-year legacy. It is one of the many different businesses across several sectors under the umbrella of Al Fardan Group, ranging from real estate to high-end jewelry to trading. The success of the group is largely built upon the business acumen and strong personal values espoused by its founder, Ibrahim Al Fardan, who established himself as a respected pearl trader back in 1954. Established in 1971, we are proud to serve the UAE’s cosmopolitan community through our 70+ strong network, spanning across all Emirates. Reinforced by strong relationships with over 150 global corresponding banks, financial institutions, and other financial service providers, we offer secure transactions that firmly place reliability and trust in the forefront.
About Windward
Windward (LON: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 www.windward.ai.
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