Windward AI solution to enhance Shell’s trade compliance processes
Published by Nicholas Woodroof,
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 KYVTM (Know Your Vessel) due diligence process that will streamline business operations. Windward’s 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 digitalisation 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.
Read the latest issue of Oilfield Technology in full for free: Issue 2 2021
Oilfield Technology’s second issue of 2021 starts with a report from KPMG that examines the outlook for the Scottish oil and gas sector. The rest of the issue is dedicated to articles covering the offshore supply chain industry, offshore asset integrity, expandable liner technology, advances in drilling, data security, flow control, EOR and methane emissions.
Exclusive contributions come from Tata Steel, EM&I Group, 3X Engineering, Enventure Global Technology, Varel Energy Solutions, Adrilltech, Tendeka and more.
Read the article online at: https://www.oilfieldtechnology.com/digital-oilfield/05082021/windward-ai-solution-to-enhance-shells-trade-compliance-processes/
You might also like
Transocean Ltd. announces harsh environment contract award
The company has announced contract fixtures for two of its harsh environment semisubmersibles. Together, the fixtures represent approximately US$113 million in firm contract backlog.