TIDMINCE
Ince Group PLC (The)
11 August 2021
REACH
For Immediate Release
The Ince Group plc
(AIM: INCE)
Ince launches integrated specialist sanctions compliance
solution with Windward
Dynamic solution offered by InceMaritime combines access to
insights based on AI and machine learning with strategic advice to
optimise sanctions compliance and maritime trade finance. The
solution enables regulatory expectations for vessel behavioural
analysis to be met; pre-empt and mitigate security and financial
risks, including sanctions; demonstrate rigorous due diligence; and
avoid costly penalties.
11 August, London - International legal and professional
services firm, Ince, has launched an enhanced specialist sanctions
compliance solution through a co-operation agreement with Windward,
the Predictive Intelligence company applying AI to transform global
maritime trade. The collaboration marks the development of another
managed service solution for InceMaritime, Ince's integrated legal
advisory, business consultancy and technology offering for the
maritime sector.
By accessing Windward's highly advanced data analysis that are
based on AI and machine learning to provide strategic insights on
complex and ambiguous sanctions compliance scenarios, InceMaritime
is offering a dynamic solution that mitigates sanctions risk,
demonstrates rigorous due diligence and helps avoid costly
penalties. This is supported by Ince's collaboration with New York
based law firm, Seward & Kissel LLP, to enable clients to
obtain sanctions legal advice covering the EU, England & Wales
and U.S. sanctions applications, together with the new best risk
analysis and reporting tools available, all under one roof.
The global political landscape continues to be an exceedingly
complex arena. Requirements to address maritime and sanctions risks
are now integral to financial, operational and political processes.
This is putting immense pressure on organisations to demonstrate
deeper knowledge and due diligence within their sanctions
compliance strategies, particularly in light of increased
accountability under the Global Human Rights Sanctions Regulations
2020. Within this context, InceMaritime has identified that
existing investigation processes and tools can be slow, fragmented
and too rigid for the speed at which businesses need to operate.
More importantly, this approach can be limiting for identifying and
interpreting the nuances associated with identifying all risks in
order to make informed decisions.
This new proposition will enable charterers, insurers, owners,
investors, brokers, ship operators, financial institutions and
defence agencies to benefit from a smarter, faster and
forward-looking approach to risk mitigation. For example, Windward
fuses multiple sources, including a variety of data sets, weather,
AIS transmissions, satellite, radio, and more to create a range of
insights that are driven by AI and machine learning to develop
intelligence on vessels, cargo and owners. It combines a series of
risk indicators such as ownership and registration that underpin
traditional due diligence processes with behavioural analysis to
interpret potentially suspicious activity and anticipate next steps
as well as their implications. With access to this cutting-edge
intelligence, InceMaritime will be able to determine the best
immediate approaches for clients to protect against risks but also
to take pre-emptive action on mitigating future
vulnerabilities.
Commenting on the announcement, Julian Clark, Global Senior
Partner at Ince, said : " Evaluating sanctions risks and developing
appropriate strategies is an ongoing challenge. As political
agendas are likely to remain fluid and complex, specialist maritime
sanctions advice needs to be powered by dynamic, intuitive data.
Our agreement with Windward means that Ince Maritime will be
uniquely positioned to use best-in-class intelligence to inform our
advice so that we can empower companies to manage current and
future risks to build their resilience. Also, by applying such
rigour, we will be able to help companies to demonstrate the
robustness of their mitigation approach in the event of any
incidents."
"We are excited to work with Ince, to enhance the InceMaritime
solution with our best-in-class technology to help its customers
better mitigate risk," said Ami Daniel, CEO and Co-Founder at
Windward. "Our big data and machine learning capabilities provide
Ince's clientele with the ability to streamline manual processes
and provides them with additional layers of insights that
automatically connects the dots, pinpoints relevant intelligence,
as well as provides a risk assessment based on their specific risk
appetite."
Bruce G. Paulsen, Co-Head of Seward & Kissel's Litigation
Department and Head of its Sanctions Group, said : "We are
delighted to collaborate with Ince and InceMaritime, a leader in
the maritime financial crimes compliance space. We look forward to
assisting clients with respect to U.S. economic and trade
sanctions, which have expanded considerably in their breadth and
reach over the past decade. We expect the U.S. to continue its use
of sanctions in the future, which has targeted certain practices in
the shipping industry, and we look forward to helping clients
navigate this often challenging regulatory environment."
-ENDS-
NOTES TO EDITORS
About The Ince Group plc
The Ince Group is a dynamic international legal and professional
services business with offices in nine countries across Europe,
Asia and the Middle East. With over 700 people, The Ince Group
delivers legal advice, strategic guidance and business solutions to
clients ranging from the world's oldest and biggest businesses
operating across numerous industries to ultra-high net worth
individuals. Through its entrepreneurial culture and "one firm"
approach, the business offers its clients over 150 years of
experience, insight and relationships. The Group is driven by a
unique team of passionate people whose broad expertise and deep
sector specialisms provide their clients with solutions to all
their complex legal and strategic needs.
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 360deg view of the
maritime ecosystem and its broader impact on safety, security,
finance, and business. For more information visit:
https://windward.ai/
About Seward & Kissel LLP
Seward & Kissel is a leading U.S. law firm with an
international reputation for excellence, with offices in New York
City and Washington, D.C. With over 130 years of client excellence,
Seward & Kissel attorneys are highly regarded in their
respective practices. Their focus and expertise, particularly in
the maritime industry, have enabled them to provide their clients
with effective, high quality, and hands-on legal services in
connection with all aspects of the shipping industry. For more
information visit: https://www.sewkis.com/
FOR FURTHER ENQUIRIES, PLEASE CONTACT:
The Ince Group plc investorrelations@incegd.com
Adrian Biles, Group Chief Executive
Simon Oakes, Chief Financial Officer
Arden Partners plc
Nominated Advisor and Broker to
the Company
John Llewellyn-Lloyd, Corporate
Finance
Oscair McGrath, Corporate Finance
Louisa Waddell, Corporate Finance
Simon Johnson, Equity Sales +44 (0) 20 7614 5900
Williams Nicolson +44 (0) 7767 345 563
Media enquiries ince@williamsnicolson.com
Steffan Williams
Fraser Schurer-Lewis
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