SYVR Selects Marcura to Deliver Compliance Services

POSTED ON 29 MAY 2018 BY THE MARITIME EXECUTIVE 

SYVR (www.syvr.org), a platform for matching shipping companies and insurance companies with high quality marine surveyors globally, has appointed Marcura (www.marcura.com) to deliver KYC and compliance screening.

SYVR is being launched with an initial focus on marine insurance, specifically H&M, P&I and cargo surveys. Surveyors are assessed based on a uniform set of qualifications criteria before they are included into a global marine expert community and listed on the platform. The shipping company users, the insurance company users as well as the surveyors will undergo a baseline due diligence, verification and sanctions screening process before being allowed access to the platform.

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As a truly independent marketplace with high-quality suppliers and customers, SYVR decided to perform compliance checks outside of its organisation and appoint a third party, Marcura, to deliver this critical task. MCaaS (or Marcura Compliance as a Service, which is a business unit under Marcura Platform Solutions and is part of The Marcura Group) will be directly delivering the services.

Henrik Uth, Founder and Managing Director of SYVR says: "SYVR is setting out to change how marine surveys are managed in the future, by building the world's largest surveying network through gig economy principles. We have already received about 100 applications from surveyors worldwide and a number of the leading insurance companies in Europe has registered users. The platform will be synonymous with quality and integrity, which is why we saw Marcura as a natural fit and a strong partner." 

Jens Lorens Poulsen, Group CEO of Marcura, explains: "We are very pleased that SYVR has decided to select us to deliver the service for the benefit of their customers. With more than 15 years of experience in screening a variety of industry-specific data sets, Marcura provides compliance-orientated services that are designed for enhancing the compliance profile of leading players in the maritime industry and mitigate risks. We proactively meet new rules and agreements with IT-enabled processes and procedures. Our data protection policy is based on UK regulations, which are aligned with the directives of the European Union."

The MCaaS service entails a manual extraction and validation process before the screening of validated data points so Marcura customers receive a more thorough due diligence on relevant data. The screening of the data is done against a variety of sanctions lists which are compiled and updated daily by MCaaS.

The SYVR market place will simplify the end-to-end process, resulting in faster and better service for the clients. Developing a survey management platform, based on crowdsourcing in an evolving 'gig economy', will be the beginning of the digitalization and reorganisation of a market and service that is currently in analog format. The SYVR marine expert community is open for membership application for marine surveyors globally.