Maritime and regulatory technology provider Pole Star and Envoy, which harnesses blockchain technologies to bring efficiencies to global supply chains have teamed up to offer compliance screening and vessel tracking.
By using Pole Star’s PurpleTRAC regulatory technology solution, Envoy says its customers will now be able to digitally track the places, organisations and entities they are trading with.
Financial crime compliance
The tracking system enables companies to manage regulatory and reputational risk with the aim of ensuring that all transactions are compliant.
Envoy says it will also solve financial crime compliance challenges by offering complete vessel screening and tracking.
Envoy and Pole Star
Built on enterprise software firm R3’s Corda blockchain platform, Envoy says its digital systems reduce inefficiencies and inject new liquidity.
Pole Star’s PurpleTRAC solution meanwhile claims to help companies manage regulatory and reputational risk whilst solving compliance challenges by offering complete vessel screening and tracking.
Categories: Trade Based Financial crimes News