SAS Partners with Neterium for Dynamic Watchlist Screening

Revolutionizing Watchlist Screening with SAS and Neterium

SAS, a leader in data and AI, has launched a groundbreaking solution for real-time watchlist screening in collaboration with Neterium, a prominent regtech firm. This cloud-based platform provides financial institutions with powerful tools necessary for making swift, informed sanctions decisions, thus addressing the challenges in regulatory compliance and transaction monitoring.

Enhanced Compliance Capabilities

The SAS Real-Time Watchlist Screening harnesses advanced technology to deliver its core features. By integrating end-to-end capabilities with industry-leading screening engines, it enhances the way organizations manage risk while adhering to strict regulations. This solution enables banks and other organizations to effectively monitor transactions against real-time databases, thereby reducing the likelihood of processing transactions linked to sanctions or entities on watchlists.

How SAS Real-Time Screening Works

The key to SAS Real-Time Watchlist Screening lies in its robust matching algorithms, which are designed to significantly minimize false positives, a common issue faced by many financial institutions. For instance, Orange Bank has already experienced a remarkable 65% reduction in false positives since implementing this enhanced screening capability. This improvement not only boosts efficiency but also increases the confidence of compliance teams in their decision-making processes.

Key Features of the Solution

1. As-a-Service List Management: This feature allows for seamless integration with existing platforms through standardized REST APIs, providing automated updates and reducing the manual workload required from analysts.

2. Holistic Matching: The solution evaluates multiple data points simultaneously, utilizing AI-enabled meta-matching and meta-scoring techniques. This approach addresses common challenges such as name variations and transliteration issues, making it easier to accurately assess risks associated with individuals and organizations.

3. Customizable and Auditable: Users can tailor screening parameters and maintain audit trails, ensuring compliance with varying regulatory requirements across different jurisdictions.

4. Continuous Improvement: The solution undergoes regular updates to its features and functionalities, ensuring that it evolves alongside the changing regulatory landscape.

The Importance of Real-Time Insight

In today's volatile geopolitical landscape, the need for real-time insights into entities and transactions cannot be overstated. Financial institutions that neglect to comply with regulations can face severe penalties, which emphasizes the importance of a reliable sanctions screening solution. SAS is addressing these needs by providing organizations with the tools to make well-informed decisions and mitigate risks associated with financial crimes.

Success Stories

As noted by SAS executives, the collaboration with Neterium has cultivated a powerful synergy. Florence Vicentini, Chief Commercial Officer at Neterium, highlighted the importance of integrating their screening capabilities with SAS’s advanced platform, ultimately empowering organizations to manage their regulatory obligations effectively.

The Future of Watchlist Screening

SAS’s continuous commitment to innovation is reflected in its ongoing partnership with Neterium, as both companies strive to push the boundaries of what’s possible in financial crime detection and prevention. By adhering to high standards and leveraging advanced analytical technologies, SAS stands out as a leader in the market, providing clients with cutting-edge solutions that meet ever-evolving challenges.

Frequently Asked Questions

What is SAS Real-Time Watchlist Screening?

SAS Real-Time Watchlist Screening is a cloud-based solution that offers real-time monitoring for financing institutions, ensuring compliance by screening transactions against current watchlists.

How does the screening process work?

The solution combines advanced algorithms to evaluate multiple data points in real-time, reducing false positives and enhancing decision-making efficiency for compliance teams.

What companies have benefited from this solution?

Notably, Orange Bank has reduced false positives by 65% after adopting SAS Real-Time Watchlist Screening, demonstrating its effectiveness in improving compliance operations.

Why is real-time screening important?

Real-time screening is critical for financial institutions to promptly identify potential compliance issues, allowing them to avoid severe legal and financial penalties associated with regulatory violations.

What features does this screening solution include?

The solution includes customizable screening parameters, automated updates, robust matching capabilities, and continuous improvement to adapt to changing regulatory requirements.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.