The portal allows companies of all sizes to be aware of risks associated with their vessels and the vessels of potential business partners as well as any maritime business activity, enabling them to vet business opportunities and vessels quickly and efficiently.
When clearing a transaction, maritime stakeholders including shipowners, brokers, charterers, financial institutions, and insurers run numerous due diligence checks to protect against risk exposure. Current lack of standardised processes for risk reporting in the industry means that it is essential for maritime companies to have access to data and actionable insights to be aware of all risks involved with their fleet, so they can ensure compliance and that they don't lose out on business opportunities. In addition, credit checks and BOL verification have become a necessity in the shipping and banking industries in order to provide real-time insights and clarity to drive business.
The Windward Online Portal enables access to on-demand, comprehensive risk insights catered to any company’s individual needs. Shipowners can sign up for a subscription-based alert system that notifies them when a vessel in their fleet has a change in compliance status or is flagged for suspicious behavior, enabling them to actively monitor the compliance status of their vessels and take action the instant one of their vessel’s risk status changes. This helps them to avoid unintended consequences such as missing out on a chartering deal.
“Innovation doesn’t just come in the form of technology, but also in the form of business services and business models,” said Ami Daniel, co-founder and CEO of Windward. “Our customers and prospects have been asking for even more data-driven services and we're proud to be launching this on-demand online service which will level the playing field for thousands of organisations. Now Windward’s insights are available to any company in the maritime industry enabling them to ensure compliance and conduct business with confidence.”
The Windward Online Portal offers services like BOL verification and credit checks to support trade finance banks and other shipping industry stakeholders. The portal goes beyond traditional data sources when analysing red flags in trade transactions and enhances customer due diligence with referenceable credit checks and unique data to mitigate credit risk.
Shipowners and counter parties can also purchase one-off vessel compliance certificates through the portal to demonstrate to potential business partners that a vessel isn’t exposed to any sanctions violations. The certificates help secure business faster through clear documentation of vessel behavior and ownership and management structures. In the coming months carbon emissions certificates will also be added to the portal.