Seasearcher Advanced Risk & Compliance vs. the competition: Four factors to inform your decision

2023.07.23

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In an increasingly complex regulatory environment, it is vital for businesses to highlight and assess risks associated with status or operations that can influence or change the way they deal with shippers, suppliers, or their own customers.

When comparing maritime trade risk solutions in the market, we list the main jobs carried out by compliance professionals to help you evaluate which solution is the best fit.

So, let’s compare our newest solution with other leading solution providers in the maritime industry to make your decision easier.

What they offer

Features	ARC	Competitor A	Competitor B	Competitor C
KYC check
Trading Insights (the trading profile of a vessel in context with its risk)
Maritime companies' financial risk
Compliance Screening
Sanctions compliance screening checks (red, amber, green)	Screen against vessels, owner and flag for sanctions	Known as their risk screening tool – owner and vessel	Screening against vessel owners, flags (includes flag hopping)	Screen against vessels, owner and flag for sanctions
Determine AIS Gaps (removing false positives)	Use of ML models to differentiate between a coverage loss and AIS switch off	Use of ML models to differentiate between a coverage loss and AIS switch off	No modelling – have seen false positives, such as AIS gaps when a vessel is in port	No modelling approach, but do have access to Inmarsat C position data where AIS is not present
AIS Spoofing Detection (Probable true location)	Real-time detection with probable true location	No validated vessel position from proprietary AIS network	No AIS Spoofing Detection	Lack of evidence on whether the detection happens in real-time
Dark Port Calls	Determines when it happened and gives user possible ports	Alerts to possible ports linked to dark activity	Only determine Dark Activity. No further determination	Only determines ‘periods of non-reporting’. No further determination
Dark STS (1 way)	Determines when it happened and gives user possible vessels	Only identify “Dark Activity”. Will let the user determine which vessel	Only determine Dark Activity. No further determination	Only determines ‘periods of non-reporting’. No further determination
Dark STS (2 way)	Determines when it happened and gives user possible vessels	Only identify “Dark Activity”. Will let the user determine which vessel not when both are dark	Only determine Dark Activity. No further determination	Only determines ‘periods of non-reporting’. No further determination
Abnormal movement detection - loitering	Detects loitering events as an indicator for 1 way dark STS	Detects loitering events against all vessels	Claims to detect irregular activity but no mention or proof	No abnormal movement detection
Managing escalations
In-platform escalations (beyond traditional email escalation)
Event Log	Voyage event log indicating when key events happen	Have a very detailed event log	No event log just AIS positions	No event log just AIS positions
Tailored compliance focused workflow (personalisation, audit trail)	Set own historical time period to fit risk appetite plus audit trail	Some personalisation but no audit trail	Have watchlist feature only	Have an audit trail and watchlist feature
Monitoring vessels
Monitoring list with Alerts	Customise compliance alerts and get alerted to any changes in the risk profile	Customise compliance alerts and get alerted to any changes in the risk profile	Some personalisation	Some personalisation

In conclusion, we can see Seasearcher Advanced Risk & Compliance outperforms alternative solutions with the following key benefits:

1. Single source of truth with delivery of comprehensive data, unparalleled for its accuracy and depth.

Assess the financial health of maritime companies and any connections to illicit or illegal activities, for a complete view of risk exposure you couldn’t join together yourself.

In addition to strategic partnerships with terrestrial receivers, satellite providers and port agents, what sets Seaseacher Advanced Risk & Compliance apart are its exclusive data sources. We have hundreds of sources and more than 500 Lloyd’s agents in over 170 countries. Our database covers 100% of the live commercial fleet, over 400 million AIS messages processed daily & over 250,000 ship owning and operating entities.

2. Analytics and intelligence that gets you to the compliance insight you need, quickly.

Gain a clear understanding of a vessel’s trading pattern in context, with flags for previous illicit activity in time periods defined by you. Avoid unnecessary investigations with contextual intelligence that highlights when an anomaly or AIS gap might result in a compliance breach.

Seasearcher Advanced Risk & Compliance combines quality data with machine learning to generate only valid risks for your investigation, removing false positives.

Based on our customer analysis, our solution greatly expedites the time used to complete an investigation, up to 50% faster.

3. Simpler investigations with one informed view

Quickly fulfil detailed investigations with irregular voyage behaviour all in one event log, and confidently present your decisions with tailored reports as evidence.

Seasearcher Advanced Risk & Compliance ‘s traffic light system details the red, amber, green (RAG) status for vessel risk levels to help you assess exposure to risk quickly and efficiently.

4. Tailored visibility of what is going on at sea and in your business

Stay alert to new compliance risk – with tailored monitoring lists and compliance risk alerts. Never miss illicit activity involving your vessels of interest. Complete audit trails for a robust compliance procedure with every check, escalation, all managed in one single platform.

Your solution of choice

Trade compliance screening, Know Your Customer (KYC) checks and investigating possible illicit maritime trading activity has never been more complex. It’s essential to move quickly and act precisely, but these processes can be complex, time-consuming and prone to human error.

Seasearcher Advanced Risk & Compliance gives a new view of validated maritime trading risk and context on which to base and evidence compliance decisions that could:

Speed up your compliance checks by 25%.
Reduce time on investigation by 50% with removal of false positives
Reduce your workload by 62.5 hours per day with a one-stop solution
Seamlessly integrate the solution into your business with web platform or API data feeds

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