Orange Bank takes sanctions screening real-time

France-based Orange Bank has implemented compliance tools from SAS and Neterium “to achieve real-time sanctions screening in the cloud”, according to SAS.

Orange Bank takes sanctions screening real-time with SAS and Neterium

The vendor says Orange Bank began researching new sanctions screening tools in 2021. Going real-time would enable its compliance team to bolster the bank’s anti-money laundering (AML) and counter-terrorist financing (CTF) guardrails, as well as streamline the varied tools used and managed by its analysts.

It turned to SAS for this, who, in turn, turned to Neterium as a partner for the project.

“As we considered complementing technologies that would help Orange Bank achieve the agility and responsiveness it required, Neterium was an immediate standout,” comments Stu Bradley, senior vice president of fraud and security intelligence at SAS.

Neterium’s engine, Bradley adds, offers “efficiency, effectiveness and scalability of its solutions, and also the explainability of its AI-driven decisioning”.

Over a period of nine months, SAS and Neterium collaborated to align Neterium’s cloud-native real-time “watchlist screening-as-a-service” with SAS Visual Investigator. Neterium’s dual API-based offerings, Jetscan and Jetflow, now operate seamlessly on the SAS platform.

The solution gives Orange Bank automated entity and transaction screening against major government and global watchlists as well as politically exposed persons (PEP) lists.

“Our newly deployed AML-CTF platform, powered by SAS and Neterium, is already proving to be a game-changer,” saysa Veronique McCarroll, deputy CEO of Orange Bank.