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Name and Transaction screening (Jetscan and Jetflow)

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Overview

We consider ourselves world-class experts in one single domain: watchlist screening technology. This is our exclusive focus as a company. We offer two specifically designed and complementary API-native solutions: Jetscan for counterparty screening (e.g. for customer records) and Jetflow for transaction screening (e.g. for payments).

We support fintechs, financial institutions and digital platforms in performing watchlist screening through our real-time API. Our solution went live in early 2020 and sets a new standard for watchlist screening in terms of performance, flexibility and data analytics, combined with a completely new go-to-market.

As a strategic decision, Neterium concentrates 100% on screening technology (i.e., the screening engine). We partner with the leading watchlist data providers, which we host on our platform and our service is exclusively accessible through our very extensive API. Therefore, Neterium does not provide any User Interface (UI) in the form of an Alert Management or Case Management interface. Customers of Neterium are embracing this approach since it allows them to select their preferred watchlist provider(s) and directly integrate screening into their operational process, configure workflows like they want and avoid friction in their user journeys.

Neterium’s leadership team has a combined 100-year expertise in watchlist screening. Neterium was created based on our learning from this unique expertise. Our goal is to offer a truly innovative solution to the most demanding and forward-looking clients in the world.

Key Features

Our distinctive value could be summarised along the 7 below dimensions:

1. INFINITE SCALABILITY

Our cloud-native transaction screening solution can easily handle large volumes of transactions. In our latest benchmark we screened:
- 250 million transactions against Sanctions lists (through our jetflow API), with an average throughput of 68,300 transactions per second, and importantly each transaction was screened with an average latency of less than 10 milliseconds.
- 250 million customer records (through our Jetscan API), with an average throughput of 50,200 customer records per second (when screening records against comprehensive Politically Exposed People lists)

2. EXTREME CONFIGURABILITY

Even at the above-mentioned throughputs, we offer the flexibility to dynamically change any parameter (e.g., lists to screen against, matching logic, risk policies) for every single screening request.

3. HIGHLY EFFICIENT SOLUTION

Our solution allows to drastically reduce the number of false positives. This is achieved by leveraging the team’s unique experience (the leadership team has 100 years of combined experience in watchlist screening) as well as the use of a new matching approach (holistic matching) and artificial intelligence for cultural affinity

4. NO COMPROMISE ON EFFECTIVENESS

Beyond the “standard features” (e.g., fuzzy logic, support of multiple alphabets, transliteration), our solution offers a unique and flexible meta-score feature, leverages geo-location (for cities and ports), and can fully leverage the leading data vendors’ rich list content. A unique model validation tool also allows to easily visualise the impact of your parameter changes in terms of effectiveness and efficiency.

5. RICH DATA ANALYTICS

We believe that a screening engine should return much more than a hit/no hit information. Our API can therefore return much richer information (e.g., meta-score, resolved content, explanations) that can be leveraged by our clients’ Machine Learning models or Case Manager solutions.

6. SEAMLESS UPGRADE AND LOW TOTAL COST OF OWNERSHIP

We use standard REST API for quick and easy integration, and our solution can be tested in the cloud with no need for extensive professional services. Our solution is optimised out-of-the-box: there is no need for cumbersome tuning and thousands of rules to maintain and audit. As cloud-based solutions, version upgrades are seamless with no action required and no impact on production. And importantly, we store in our cloud and automatically take care of the regular updates of the leading data vendors’ watchlists.

7. FULL EXPLAINABILITY

Finally, we believe in full transparency: every screening outcome can be fully explained in a transparent way. You can always get a detailed and consistent explanation on why an alert was (or was not) raised.

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