IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, and Complidata, a data driven AML innovation company, have announced a partnership to offer customers in the trade finance space a series of risk and compliance datasets that will enhance financial crime due diligence frameworks and assist in the digitisation of the overall trade compliance workflow.
IHS Markit has a 300-year history within the maritime and trade sector, managing content sets across the shipping, port, cargo, and trading sectors. The in-depth and broad scope of unique datasets managed by IHS Markit goes beyond simple watch-list screening to provide organisations with the ability to identify corporate networks, suspicious vessel activity, export-controlled goods, and unit prices across the full HS code spectrum. IHS Markit's trade-based money laundering datasets, including thousands of dual-use goods that do not appear on catch-all control lists and the capture of over and under-invoicing price discrepancies will be available to Complidata customers, as will IHS Markit's maritime movement and compliance datasets.
Guy Sear, VP Risk and Compliance, IHS Markit "Advisories, guidelines and regulation across trade are on the rise, requiring practitioners to understand all aspects of a transaction and to identify its risk. The integration of IHS Markit's maritime and trade datasets into the Complidata trade finance platform will provide customers with big data and artificial intelligence solutions to reduce time-consuming false positives, optimise and digitise business operations and manage risk in a more timely and efficient manner."
Jesper Grosen, CEO of Complidata "Adding IHS Markit to the Complidata platform is an important component in the trade finance digitisation and compliance ecosystem. The increasing emphasis on regulation, compliance and security, means IHS Markit and Complidata offer a very valuable piece of the puzzle."