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IHS Markit (NYSE: INFO), a world leader in
critical information, analytics and solutions, and
BankT&D Consulting Limited, UK, a firm
specializing in the digital transformation of financial services,
have announced a partnership to offer Banks a comprehensive
automated solution for managing Trade Based Money Laundering (TBML)
compliance in South Asia.
IHS Markit has a 300-year history within the maritime and trade
sector, managing content sets across the shipping, port, cargo, and
trading sectors. 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
BankT&D Consulting customers, as will IHS Markit's maritime
movement and compliance datasets.
Guy Sear, VP Risk and Compliance, IHS Markit - "Expectations for
the management of trade risk and compliance in South Asia are
increasing, requiring banks to understand in-depth and challenging
aspects of the financial transaction. The integration of IHS
Markit's trade-based money laundering datasets into the BankT&D
Consulting screening platform provides customers with solutions to
increase business efficiency and manage risk in a time-sensitive
manner."
Aslam Aziz, Managing Director, BankT&D Consulting -
"Integrating IHS Markit datasets with BankT&D Consulting's
Trade and Technology expertise is an important component in helping
banks in the region effectively manage Trade compliance risk. The
increasing emphasis on regulation, compliance and security requires
credible and swift action by banks. Our 'Trade Compliance
Navigator' solution powered by IHS Markit datasets means we are
able to support banks in combating Trade Based Money Laundering as
required by local regulators in Pakistan, Bangladesh and
India."
About IHS Markit
IHS Markit (NYSE: INFO) is a world leader in critical
information, analytics and solutions for the major industries and
markets that drive economies worldwide. The company delivers
next-generation information, analytics and solutions to customers
in business, finance and government, improving their operational
efficiency and providing deep insights that lead to well-informed,
confident decisions. IHS Markit has more than 50,000 business and
government customers, including 80 percent of the Fortune Global
500 and the world's leading financial institutions. Headquartered
in London, IHS Markit is committed to sustainable, profitable
growth.
About BankT&D Consulting
BankT&D Consulting focuses on the emerging markets,
delivering expertise and best practice in banks undergoing rapid
digital transformation. It has a strong track record of adding
significant value for clients by helping them design, implement and
execute their competitive strategies through innovative technology
solutions. For more information visit www.banktandd.com
