TradeSun and Lloyd's List Intelligence advance maritime compliance as sanctions tighten
Del Mar, CA – April 6, 2022 – TradeSun, the leading AI platform for trade compliance and financial crime prevention, and Lloyd’s List Intelligence, the trusted expert partner for global maritime insights, have partnered to advance maritime compliance as international sanctions tighten.
TradeSun will leverage Lloyd’s List Intelligence’s extensive datasets for vessel tracking and ownership, bill of lading tracking, as well as maritime risk indicators, to flag and intercept financial crime in real-time, significantly reducing risk for banks and their clients.
Players in trade must comply with rapidly evolving international sanctions, with any potential non-compliance risking large fines and reputational damage. The seamless integration of Lloyd’s List Intelligence with the TradeSun Platform gives customers confidence that they are adhering to complex regulatory demands, allowing them to focus on higher-value, client-facing tasks.
The AI-powered TradeSun Platform is a one-stop offering for trade compliance. The platform extracts and standardizes transaction data, performs multiple compliance activities in real-time, intercepting illicit activities in flight, and ensures trade documents meet international standards (UCP 600/ISBP). Comprehensive reporting, audit trails and prescriptive analytics are provided across the platform.
Thomas Richmond, Strategic Partnerships Manager at Lloyd’s List Intelligence, noted: “Compliance professionals around the world need more than great data. They need the kind of greater insight that our unique data and analytics can bring to the TradeSun Platform to meet the most demanding of trade compliance standards.”
Nigel Hook, TradeSun CEO, said: “With global regulators increasingly turning to sanctions as a pressure tool, players in trade must be vigilant in adhering to the evolving regulatory landscape. We’ve partnered with Lloyd’s List Intelligence to further enhance TradeSun’s screening capabilities and give customers confidence in compliance by combining industry-leading data with top tier technology.”
Lloyd’s List Intelligence contact
About TradeSun: TradeSun is an innovator and leader in trade digitization. Our award-winning AI-powered platform for trade finance processing and compliance empowers our customers to reduce risk and fuel growth by leveraging state-of-the-art technologies. The TradeSun Platform is a one-stop solution that offers real-time compliance, covering trade-based money laundering, dual use goods, fair price, vessel tracking and sanctions. It also automates document review, significantly reducing processing times. Our executive team consists of highly experienced trade and technology professionals from many leading financial institutions.
About Lloyd’s List Intelligence: Lloyd’s List Intelligence, part of Informa plc, is the trusted expert partner for 300 years, enabling over 50,000 professionals connected to maritime trade to act on the truth, manage risk, stay compliant and grow their businesses with transparent data, analytics and actionable insight. At the core of Lloyd’s List Intelligence online tools and data feeds is its own maritime database, containing billions of data points from over 3,000 sources, constantly verified and contextualised by maritime experts and with the use of AI. www.lloydslistintelligence.com