In the current global climate, with Coronavirus (COVID-19) cases on the rise, alongside high levels of uncertainty regarding all aspects of daily life, supply chains are now more critical than ever to ensuring the continual running of essential services.
From enabling the global movement of essential supplies to supporting the delivery of food, medical supplies, and healthcare equipment, the maritime trade industry is a key component of the global infrastructure. Without the efficient and continuous running of the global supply chain, the implications of our current situation could be far more severe.
With a quarter of the world’s population now on lockdown and 55 per cent of UK workers having little or no previous experience working from home, there is a significant uncertainty regarding the capabilities of that supply chain over the coming weeks and months.
However, as maritime trade continues to progress from highly paper-based to increasingly more digitised processes, solutions are now available that can ease this period of difficulty across industries.
At Pole Star, we understand that movement across our oceans is critical to the global economy, impacting all of us, every day, especially in our current climate. With 90% of world trade travelling by sea, we are all relying on the smooth running of the maritime industry for stability, security, and business continuity.
So, at a time like this, the systems and solutions that we have in place can support those working remotely in any industry with sanctions and regulatory exposure to maritime trade.
Pole Star is operating business-as-usual and actively supporting the maritime industry and all of our commercial clients to continue to enable the operation of global supply chains. Our sanctions screening and vessel tracking solution, PurpleTRAC, enables you to manage reputational risk all within an easy-to-use, web-based solution.
With the complex and rapidly evolving sanctions landscape, along with regulators now focusing on the entire maritime trade supply chain, ensuring that proper due diligence and risk management processes are in place has never been more important. Moreover, strict global sanctions regimes show no sign of letting up amidst the current climate.
As such, we want to help you ensure sanctions compliance for business, from your home office. Designed with and for companies with regulatory exposures in maritime trade and shipping, PurpleTRAC allows for the automation, streamlining, and recording of your regulatory processes, to mitigate the risk of the financial, commercial, and reputational damage that would occur as a result of noncompliance. Our technologies can be configured to any institution’s individual sanctions requirements, enabling users, wherever they are working, to ensure they remain able to achieve the levels of due diligence their company requires.
“At Pole Star we are open for business, helping those within the global maritime supply chain to work remotely during this period of uncertainty. We are supporting the maritime and shipping world with easily accessible solutions, alongside a team that is encouraging key players to continue communication and collaboration.” Simon Ring, Global Head of Financial Markets Compliance.
Find out more about how our solutions can empower your working from home capabilities here.
Learn more about PurpleTRAC.