Introducing SAS Real-Time Watchlist Screening: A Cloud-Native Solution for Enhanced Financial Crimes Compliance

SAS Launches Innovative Real-Time Watchlist Screening Solution with Neterium Partnership

SAS, in collaboration with API-native regtech company Neterium, has unveiled its highly anticipated SAS Real-Time Watchlist Screening, a cloud-native solution designed to enhance compliance in the fast-evolving financial landscape. With a dual capability for real-time and batch list screening, this cutting-edge technology aims to bolster efforts against money laundering and terrorist financing while significantly reducing false positives.

As global geopolitical dynamics shift, ensuring instantaneous insight into transactions and entities has become paramount for banks and compliance-focused firms. “SAS innovated this solution with Neterium, melding our mutual strengths to bring greater efficiency and trust to the AML and CFT technology landscape,” stated Stu Bradley, Senior Vice President of Risk, Fraud, and Compliance Solutions at SAS. This innovative tool empowers institutions to navigate the complexities of compliance with regulatory bodies such as the Office of Foreign Assets Control (OFAC) and the European Union.

SAS Real-Time Watchlist Screening offers an arsenal of features designed to streamline compliance operations. The as-a-service list management system integrates effortlessly via standardized REST APIs, minimizing manual labor and ensuring access to up-to-date watchlists. Additionally, the end-to-end capabilities harness the power of SAS Viya, delivering everything from alert triage to operational reporting within a unified framework.

A standout feature is the solution’s holistic matching ability, which employs AI-enabled meta-matching to assess diverse data attributes, including names and geolocations, in a single step. This accommodates the challenges of transliteration and regional spelling variations. Firms can also customize screening parameters to align with evolving regulations and their unique risk appetites.

By embracing this advanced technology, financial institutions can enhance their compliance measures, thereby safeguarding themselves against potential legal and reputational pitfalls in an increasingly complex regulatory environment.