IHS Markit Partners with TradeSun to Offer Integrated Trade Solution

IHS Markit, a world leader in critical information, analytics and solutions, and TradeSun, a provider of cutting-edge trade compliance solutions, have announced a strategic partnership to offer an all-in-one integrated trade solution that enhances financial crime due diligence and advances digitization of the overall compliance process.

The combined solution featuring TradeSun's AI-powered trade compliance platform with IHS Markit's extensive financial crime datasets offers real-time compliance checks, including for vessel tracking and behavioral analytics, container compliance and bill of lading verification, dual use goods and product value screening.

The partnership enables potential illicit activity in trade transactions to be flagged instantly by TradeSun's market-leading platform, significantly reducing risk and enhancing efficiency. By utilizing the solution, customers can safely expand business in trade, confidently knowing their compliance and risk requirements have been automatically handled.

Guy Sear, VP Risk and Compliance, IHS Markit said:"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 TradeSun's platform will provide customers with big data and artificial intelligence to reduce time-consuming false positives, optimize and digitize business operations, and manage risk in a more timely and efficient manner."

Nigel Hook, CEO of TradeSun said:"With technology uncovering that trade-based financial crime is far bigger than most people had imagined, it has never been more crucial for banks and institutions to deploy real-time intelligent compliance solutions for their trade processing. Our partnership with IHS Markit elevates compliance digitalization to a new paradigm by combining the best technology with the best data, significantly intercepting the potential for economic crime."