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Danske Bank announces partnership with Windward

By Megha Bhattacharya

November 27, 2020

  • Danske Bank
  • Europe
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danske bankDanske Bank and predictive intelligence company Windward have teamed up to transform maritime trade, digitalize and automate parts of the Bank’s financial crime compliance controls. The company’s AI-based predictive intelligence solution will enable Danske Bank to employ risk profiling and to integrate the latest automated risk-based maritime compliance solutions to more efficiently comply with and manage increasing sanctions risks and regulations.

“Financial institutions are some of the most heavily regulated in the world,” said Amalie Korning Wedege, Head of Sanctions Compliance at Danske Bank. “In addition to our ongoing efforts against AML, new sanctions advisories by OFAC and OFSI have made an already complex ecosystem even more difficult to navigate. To meet regulatory expectations, we are enhancing our efforts to improve business operations, reduce risk, and improve compliance across maritime financial trade using Windward’s AI solution.”

Windward’s platform will enhance Danske Bank’s operational performance for screening, investigating, and auditing transactions for the 90% of global trade which occurs on the ocean. This allows for better and faster data-driven decisions.

“It is an honor to partner with Danske Bank, an established and respected financial institution with deep roots in the global maritime industry,” said Ami Daniel, CEO of Windward. “Trade finance is becoming more complex as regulations targeting money laundering, financial crime, and compliance evolve across the globe, and it’s imperative that banks intimately know who they are doing business with. Danske Bank now has the most comprehensive, real-time, risk-based view of the maritime trade ecosystem that enables the highest level of accountability, transparency, and compliance to facilitate better business operations.”

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