Al Fardan Exchange LLC has selected Windward to strengthen compliance and maritime vessels screening process
Al Fardan Exchange L.L.C., one of the UAE’s leading financial services providers, has recently announced a corporate partnership with leading predictive intelligence company, Winward, offering support to Al Fardan Exchange’s Compliance team through the monitoring of maritime vessels and mitigation of sanction related risks.
Windward’s Predictive Intelligence is powered by MAIA™️ – Maritime Artificial Intelligence Analytics – an AI solution based on 300 behavioral analytics models and over 10 billion data points. The company’s proprietary platform provides banks and other financial institutions with a 360° solution that supports sanction risk management strategies. As more demanding regulations target the broader maritime ecosystem, financial institutions are now required to enhance the evaluation of the customers whom we conduct business with. The vessel Screening and tracking solution of Windward will enable the compliance team of Al Fardan Exchange to conduct enhanced due diligence on transactions related to trade and shipment via sea which would greatly help Al Fardan Exchange 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 recent partnership with Windward. We pride ourselves on having a deeply embedded compliance culture that resonates across all levels of our organization. The technology solutions provided by Windward such as Windward’s maritime risk intelligence 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 recent partnership, Chris McLeese, Commercial Director of Windward, said, “We are delighted to be chosen as a valued partner to 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 organisation has chosen our AI powered to help mitigate Trade and Maritime related risks.”
About Windward
Windward 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.
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.
