Cary, NC (Oct 10, 2022) The quantity, velocity and complexity of right this moment’s sanctions screening panorama require extraordinary vigilance, backed by best-of-breed analytics and information orchestration that empower always-on monitoring and rapid motion. To satisfy these modern-day thresholds, Paris-based Orange Financial institution teamed with SAS and Neterium to realize real-time sanctions screening within the cloud.
“Our newly deployed AML-CTF platform, powered by SAS and Neterium, is already proving to be a game-changer,” stated Veronique McCarroll, Deputy CEO of Orange Financial institution.
Ever dedicated to staying on the forefront of banking innovation, Orange Financial institution started considering new sanctions screening instruments in 2021. Going real-time would allow its compliance workforce to bolster the French financial institution’s anti-money laundering (AML) and counter-terrorist financing (CTF) guardrails. The financial institution additionally aimed to streamline the numerous instruments used and managed by its analysts. It relied on SAS to ship on its imaginative and prescient.
Attaining next-gen sanctions screening
“As we thought of complementing applied sciences that might assist Orange Financial institution obtain the agility and responsiveness it required, Neterium was a right away standout,” stated Stu Bradley, Senior Vice President of Fraud and Safety Intelligence at SAS. “SAS selected to accomplice with Neterium to offer the real-time sanctions screening engine due to the effectivity, effectiveness and scalability of its options, and in addition for the explainability of its AI-driven decisioning.”
Over a interval of 9 months, SAS and Neterium collaborated to align Neterium’s cloud-native real-time “watchlist screening-as-a-service” with SAS® Visible Investigator. Neterium’s twin API-based choices, Jetscan and Jetflow, function seamlessly on the SAS platform. The potent synthesis offers Orange Financial institution automated entity and transaction screening towards main authorities and world watchlists in addition to politically uncovered individuals (PEP) lists.
“Constructed-in AI and superior screening applied sciences enhance detection relevance and permit our analysts to watch a holistic, real-time view of AML danger,” stated McCarroll. “I’m assured this implementation will sustainably improve our workforce’s effectivity and effectiveness – and, likewise, that we leverage the very best know-how companions to repeatedly improve our built-in compliance platform.”
“By focusing completely on creating infinitely scalable screening capabilities delivered by means of an API, Neterium has mastered the nuances and complexities of what’s maybe essentially the most confounding side of monetary crimes compliance,” stated Florence Vicentini, Chief Business Officer and Head of Partnerships at Neterium. “The depth and breadth of SAS’ monetary crimes compliance platform is equally unmatched available in the market, which makes the connecting of our applied sciences and capabilities for Orange Financial institution a formidable combine.”
“The world’s risky geopolitical panorama is fraught with dangers that demand a real-time view of entities and transactions within the context of ever-expanding sanctions watchlists,” added SAS’ Bradley. “Attaining real-time sanctions screening will assist Orange Financial institution handle their compliance challenges by means of lowered false positives, enhanced efficiency and improved operational effectivity.”
Immediately’s announcement was made throughout Sibos 2022, the world’s world, premier monetary companies occasion, convening in Amsterdam, Oct. 10-13. Attendees are invited to interact with SAS specialists on sanctions screening and different subjects all through the convention at Sibos Sales space B115.
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