The volume, speed, and complexity of sanctions screening environment demands extraordinary vigilance, backed by best-in-class data analytics and orchestration that enable oversight continuous and immediate intervention. To achieve these modern thresholds, Paris -based Orange Bank has partnered with SAS and Neterium to achieve real-time sanctions screening in the cloud.
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“Our newly deployed AML-CTF (Anti-Money Laundering/Anti-Terrorist Financing) platform, powered by SAS and Neterium, is already a game-changer,” said Veronique McCarroll, Deputy CEO of Orange Bank .
Keen to stay at the forefront of banking innovation, Orange Bank began considering new sanction screening tools in 2021. The real-time switch would allow its compliance team to strengthen safeguards against French bank in the fight against money laundering (AML) and the fight against the financing of terrorism (CTF). The bank has also sought to streamline the various tools used and managed by its analysts. He relied on SAS to realize his vision.
Implementing Next Generation Sanctions Screening
“As we considered complementing technologies that would help Orange Bank achieve the agility and responsiveness it needed, Neterium immediately stood out,” said Stu Bradley, Vice -Senior President in charge of fraud and security intelligence issues at SAS. “SAS chose to partner with Neterium to provide the real-time sanctions screening engine due to the efficiency, effectiveness and scalability of its solutions, as well as the explainability of its decisions. based on AI. »
Over a period of nine months, SAS and Neterium collaborated to align Neterium’s cloud-native, real-time Watchlist as a Service with SAS ® Visual Investigator . Neterium’s two API-based offerings, Jetscan and Jetflow, work perfectly on the SAS platform. This powerful synthesis enables Orange Bank to automate entity and transaction screening against major government and global watch lists, as well as Politically Exposed Persons (PEP) lists.
“Built-in artificial intelligence and advanced filtering technologies improve detection relevance and provide our analysts with a real-time, holistic view of AML risk,” said Ms. McCarroll. I am convinced that this implementation will sustainably increase the efficiency and effectiveness of our team and that we will also benefit from our collaboration with the best technology partners to continuously improve our integrated compliance platform. »
“By focusing exclusively on developing infinitely scalable filtering capabilities delivered through an API, Neterium has mastered the nuances and complexities of what is perhaps the most confusing facet of financial crime compliance.” , said Florence Vicentini, Commercial Director and Head of Partnerships at Neterium. “The depth and breadth of SAS’ financial crime compliance platform is also unmatched in the market, which makes connecting our technologies and capabilities for Orange Bank a formidable mix. »