Emirates SkyCargo and Accuity Set New Standards in Global Trade Compliance

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Air cargo carrier signs multi-year deal with Accuity to optimise its sanctions compliance and export control programs

 

SINGAPORE – Media OutReach – 4 March 2020 – Emirates SkyCargo, the freight division of Emirates, announced that it
is working with Accuity, the leading global provider of financial crime
compliance, payments and Know Your Customer (KYC) solutions, to help automate
and streamline its regulatory compliance screening operations, increase
efficiency and improve the speed of service to its customers.

 Emirates SkyCargo and Accuity Set New Standards in Global Trade Compliance - Brand Spur

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Left to right: Henrik
Ambak
(Senior Vice President, Cargo Operations Worldwide, Emirates), Daniel
Hewitt
(Regional Head, MENA, Accuity), Trevor Howard (Manager,
Standards and Operational Safety, Emirates SkyCargo)

Emirates Sky Cargo has implemented Firco Trade Compliance, an Accuity solution that efficiently screens
shipment documentation (such as airway bills) against sanctions, dual-use goods
and regulatory watch lists, within a single interface.

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The new solution enhances Emirates SkyCargo’s
current process, enabling the business to automate approximately 6 million
compliance checks each month. This will significantly improve efficiency, while
enabling Emirates to uphold the extremely high compliance standards that sit at
the heart of its ethos.

Henrik Ambak, Senior Vice President, Cargo
Operations Worldwide, Emirates
, said: “Our top priority is to continue to adhere to regulatory
requirements and manage our screening obligations accurately. Working with
Accuity has enabled us to screen our very high volumes of shipments more
efficiently, ensuring that we comply with all international regulations.”

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Firco Trade Compliance is an award-winning solution that was
originally developed to enable banks to detect sanctions risks in trade finance
transactions. Through collaborative innovation with clients, Accuity has
adapted the offering to cater to the freight industry’s large-scale and highly
complex operational requirements.

Cargo operators are responsible for conducting
due diligence on the parties and items involved in every shipment they facilitate.
This includes verifying the legitimacy of the sender and recipient, checking
for dual-use or controlled goods (for example, those that could have a military
purpose), and ensuring the shipment is not going to or coming from a prohibited
location.

Emirates will now be able to screen shipment
documentation against a variety of regulatory lists, such as the OFAC sanctions
list and the EU dual and controlled goods list. Firco Trade Compliance also
allows the analysis of bespoke datasets so, for example, Emirates will be able
to screen goods against an endangered wildlife list, all within the same
system.

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“Emirates SkyCargo is firmly committed to the
prevention of illegal wildlife trafficking and with the functionality of the
Firco Trade Compliance system, we will now also be able to more effectively
identify any wilful mis-declaration of wildlife goods that are shipped
illegally,” commented Ambak.

Sophie Lagouanelle, Vice President, Financial
Crime Screening, Accuity
, said: “This project marks a significant milestone for Accuity in our
strategy to expand our screening offering to the cargo industry. By working in
close partnership with Emirates SkyCargo, we are redefining best practice and
setting a new standard of compliance for other cargo operators to follow.”

Notes to editors:

About Emirates SkyCargo:

Emirates SkyCargo is the freight division of
Emirates. With an unrivalled route network, we connect cargo customers to more
than 155 cities across six continents and operate in many of the world’s
fastest developing markets. Our cargo hold capacity comprises Emirates’ fleet
of more than 270 aircraft, including 11 Boeing 777 freighters.

Emirates SkyCargo operates state-of-the-art
cargo facilities at its dual hub locations in Dubai International Airport (DXB)
and Dubai World Central (DWC), with cargo being moved 24/7 by truck between the
two airports via a bonded virtual corridor.

Emirates SkyCargo has developed transportation
solutions for specific verticals including pharmaceuticals and perishables.
More details at www.skycargo.com

About Accuity:

Accuity offers a
suite of innovative solutions for payments and compliance professionals, from
comprehensive data and software that manage risk and compliance, to flexible
tools that optimise payments pathways. With deep expertise and industry-leading
data-enabled solutions from the Firco and Bankers Almanac brands, our portfolio
delivers protection for individual and organisational reputations.

Part of RELX, a
world-leading provider of information and analytics for professional and
business customers across industries, Accuity has been delivering solutions to
banks and businesses worldwide for 180 years.

Emirates SkyCargo and Accuity Set New Standards in Global Trade Compliance - Brand Spur

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Emirates SkyCargo and Accuity Set New Standards in Global Trade Compliance - Brand SpurEmirates SkyCargo and Accuity Set New Standards in Global Trade Compliance - Brand Spur

Latest News

New entrant AECO Energy launches business innovation to deliver ‘last mile of value chain’ to Singapore’s maturing open electricity market

  • AECO Energy announces the launch of its operations in Singapore to provide innovation to the open electricity market for businesses with generation 2.0 of its technology and service offerings.
  • The company will introduce three solutions as part of its initial portfolio, customisable to specific business needs.


SINGAPORE - Media OutReach - 13 April 2021 - AECO Energy, a new entrant to Singapore's electricity sector, has today announced the launch of its operations. AECO Energy will be the first-of-its kind energy technology and services company aimed at innovating customer-centric offerings in electricity and renewable energy markets.

With over 12 years of experience in delivering open market electricity services and solutions to businesses in Australia under the Power Choice brand, AECO Energy is bringing its second generation of services and technology to Singapore for the first time. AECO's second generation delivers on two major offerings.

Firstly, AECO delivers the 'last mile' of value in Singapore Open Electricity Market (OEM) value chain by providing innovative services to assist businesses to manage, plan and make better buying decisions.

AECO is all about enabling increased profits for businesses. AECO has a customer-centric mission to use its low-cost proven technology and expert-led services to enable better business decisions within a complex electricity market with multiple providers and opaque medium- to long-term pricing information. This comes against the backdrop of Singapore's maturing OEM, which gives businesses and consumers the autonomy to buy and choose their electricity providers - the freedom to choose.

AECO Energy's technology platform, MarketPro™ with its unique, electricity futures market simulator Rate Watch™, delivers business and electricity efficiency and empowers businesses through relevant and timely pricing information, while also helping Singapore businesses make better buying decisions via automated tenders and reverse auctions. Moreover, for businesses who do not have the capability and capacity to manage and purchase its own electricity, AECO Energy Portfolio™ delivers scalable buying power with a fully-managed contract management and purchasing aggregation service for small, medium and large businesses.

Alan Jones, CEO, Chairman & Founder, AECO Energy, said: "We are incredibly excited and humbled to be joining Singapore's dynamic energy scene with our low-cost, high-value products and services. Our mission is clear: just like Amazon is revolutionising the 'last mile' of product supply chains with its same day delivery, we are also delivering the 'last mile' of the value chain in Singapore's OEM that enables more businesses better purchasing decisions, more business profitability and growing all of Singapore's economy."

Secondly, with SGX-listed entities, enterprises and multinational corporations (MNCs)' increasing emphasis on sustainability, AECO (through its SustainPro™ offering) will bring for the first-time in Singapore the benefit of AECO's direct relationship with generators of International Renewable Certificates (I-REC). This enables Southeast Asian markets the benefit of medium- to long-term low-cost and structured REC solutions to meet renewable energy targets and sustainability goals. This translates to more profits by providing more predictable costs for businesses in meeting their sustainability and renewable energy goals.

"As a specialised company, unburdened with corporate overheads and distractions from Singapore's local market participants, we can offer companies who are based anywhere in Southeast Asia, sustainability and renewable energy solutions that span markets and countries at a lower and more predictable price. We are honoured to play our part to bring sustainability and increased renewable energy throughout the world and to do so while benefiting our customers' cost structures," continued Mr. Jones.

AECO Energy is introducing three offerings as part of its electricity management solutions:

  • MarketPro™: Businesses can optimise costs and seize market opportunities with exclusive access to customised market price information through AECO Energy's integrated online procurement and management platform equipped with Rate Watch™, a market simulation and automated procurement technology from as low as SGD $149 per month.
  • Portfolio™: Businesses get exclusive access to economies of scale with better buying power through professional and expert-managed energy procurement portfolios overseen by AECO Energy experts. This allows enterprises to focus on their core business while AECO Energy experts will fully-manage their electricity contracts and make better buying decisions on their behalf from as low as an additional SGD $74 per month.
  • SustainPro™: SustainPro focuses on helping businesses meet their sustainability goals at the lowest cost. AECO Energy offers lower costs on the procurement of Renewable Energy Certificates (RECs) and tailored REC supply solutions designed to meet transition needs towards a more sustainable business.

"With the understanding that business needs are unique for every organisation, our energy experts will work closely with customers here in Singapore to help them reduce costs, drive efficiency and make better buying decisions. By providing technology-enabled, insights-driven energy technology solutions, we want to create a profound impact on our customers' businesses to better position them for sustainable growth in the long-term," concluded Alan.


About AECO Energy:

Based in Singapore, the AECO Pacific Group owns and operates the Power Choice and AECO Energy brands. A leading pioneer for more than 12 years in electricity brokerage and consulting services in Asia Pacific focusing on deregulated electricity markets, AECO Pacific helps businesses with electricity procurement and management backed by market intelligence. Transforming and saving businesses more, AECO's combined experience in energy leadership and innovative technology solutions remain unmatched in dynamic and changing energy markets. For more information, visit https://powerchoice.com.au/ and https://aecoenergy.sg/.

Emirates SkyCargo and Accuity Set New Standards in Global Trade Compliance - Brand Spur
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