Press Release
Erste Group goes live with Neterium's next-generation transaction screening solution
22nd October 2024 – One year after announcing a strategic partnership, Erste Group and Neterium are proud to announce the successful implementation of Neterium’s transaction screening solution, now fully operational and serving over 16 million customers of Erste Bank across Central and Eastern Europe.
Following a one-year pilot phase, including testing, tuning, and a full-scale parallel run, Neterium’s next-generation screening system has been moved to production as of September 2024. This milestone means the completion of the integration project between Erste Group, one of the leading financial service providers in Central and Eastern Europe, and Neterium, the API-native and Cloud-native RegTech company.
The partnership, originally announced on 19th of September 2023, aimed to support Erste Group’s compliance framework with a more efficient and scalable transaction screening solution. Over the course of the past year, Neterium's Jetflow solution has been rigorously tested and optimised to meet the demanding operational requirements of Erste Groups 7 core markets.
Jetflow is Neterium’s flagship API-based, real-time transaction screening solution that offers unparalleled performance, with high throughput, low latency, and advanced data analytics capabilities. It has set new standards for watchlist screening, providing greater transparency, flexibility, and operational efficiency for large-scale financial institutions like Erste Group.
Iris Bujatti, Chief Compliance Officer, Erste Group Bank AG, commented: "Choosing Neterium as a long-lasting strategic partner for enhancing our transaction screening system on the latest technology using cloud services has proven to be a perfect match for us so far. The demand of the banking industry for screening solutions will not decrease in the future, and therefore I appreciate our strong cooperation with the dynamic and open-minded team of Neterium.’’
Luc Meurant, Chief Executive Officer, Neterium, added: "We are very proud to work alongside Erste Group in this critical transformation. The collaboration and dedication from both teams throughout the pilot phase was amazing. We are confident that Jetflow, Neterium’s infinitely scalable transaction screening API, will continue to deliver the performance, scalability, and flexibility needed to meet Erste Group's rigorous compliance requirements. We look forward to a long-term and successful partnership with the Erste Group team.”
The completion of this integration represents a significant step forward for both Erste Group and Neterium in their joint mission to provide industry-leading financial security and compliance solutions.
About Erste Group Erste Group is the leading financial services provider in the eastern part of the EU. Its ca. 45,000 employees serve 16.4 million customers in around 2,000 branches in 7 core markets (Austria, Czechia, Slovakia, Romania, Hungary, Croatia, and Serbia). For the first half of 2024, Erste Group had 344 billion euros in total assets, posted a net profit of 1.6 billion euros, and had a common equity tier 1 ratio (pro forma) of 15.5%.
About Neterium Created in 2017, Neterium is an API-native RegTech company revolutionising Financial Crime Prevention, led by a team of Financial Crime Compliance industry experts. Neterium provides innovative SaaS solutions combining the benefits of the latest technologies with in-depth financial crime compliance knowledge. Neterium teams up with partners and clients to add advanced screening capabilities to their platforms and solutions.
