PRESS RELEASE PR Newswire
May. 27, 2019, 06:00 AM
NEW YORK, May 27, 2019 /PRNewswire-PRWeb/ -- TTEK Inc. and Altana Trade today jointly announced their Alliance Agreement to deliver integrated technology solutions in trade risk management. As part of the alliance, TTEK will promote Altana Trade's products for data fusion and artificial intelligence-based risk management to government agencies worldwide. Altana will similarly incorporate TTEK's risk analytics and risk management workflow software in its solutions for financial services providers, multinationals, and logistics providers.
TTEK is a rapidly growing provider of customs administration and risk management software and consulting services. With a global customer base and a team comprised of more than 150 of the world's preeminent customs modernization and risk management experts, TTEK helps to facilitate legal trade, enable systems interoperability and inter-agency coordination, and selectively target and inspect high-risk border flows. TTEK supports government enforcement and revenue authorities with training and change management to ensure local capacity building and the successful adoption of new technologies.
Altana Trade is a New York-based artificial intelligence company unlocking the power of global economic data to make trade safer, more efficient, and more profitable. Altana partners with businesses, governments, and financial service providers to connect and learn from data that is otherwise inaccessible, disconnected, and disorganized.
"Customs and border management is poised to be transformed through artificial intelligence," said TTEK CEO, Chris Thibedeau. "To realize this opportunity, two things are necessary: First, we need to clean, structure, and link the internal trade, tax, and enforcement data within a government. Altana's data fusion technology accomplishes this automatically. Second, we need to join this national data with data from beyond the border in order to capture the structure and patterns of flows to the border. The Altana Trade Data Network is the largest and most comprehensive data model of global trade. We can connect this data to each country's national data in order to dramatically increase visibility and detect risk in transnational border flows. Altana has created a breakthrough solution for modeling the global trade network and analyzing risk through artificial intelligence. Together, we can deliver customs, border enforcement, and revenue authorities a paradigm-changing offering for trade facilitation, revenue assurance, and risk management."
Evan Smith, the CEO of Altana Trade, said of the alliance: "TTEK is the clear leader in customs modernization and risk management solutions. We couldn't have a better partner in bringing our data fusion and artificial intelligence offerings to market with government customers. The combination of TTEK's domain expertise with our data access and machine learning solutions creates an unparalleled solution for trade risk analytics. With TTEK providing an end-to-end suite of applications for trade administration, risk targeting, investigations, and inspections, we are now able to offer an unparalleled, complete solution for trade risk management to governments. Together, we will employ advanced technology to revolutionize customs and border management."
TTEK and Altana Trade will showcase their product offerings, and the results of both parties' combined efforts on targeting tax and tariff evasion, narcotics trafficking, and other illicit border flows at the upcoming World Customs Organization IT Conference and Exhibition in Baku, Azerbaijan, from June 12-14.
TTEK (pronounced "Tee Tek") is a leading global technology and consulting services solutions company that provides trusted and transparent solutions and expertise for customs and border modernization. TTEK promotes a fusion of leading edge products with operational and academic subject matter expertise to assist sovereign nations in modernizing their customs and border processing systems and methodologies. For more information, see our website at https://www.ttekglobal.com
About Altana Trade
Altana Trade is an artificial intelligence partnership unlocking the power of global economic data to make trade safer, more efficient, and more profitable. Through a shared artificial intelligence platform, Altana helps regulators, businesses, financial service providers, and logistics providers learn from data to realize better trade. For more information, see our website at https://www.altana.ai