LONDON – 01 June 2022 - ION Treasury, a global provider of treasury and risk management solutions for corporations, financial institutions, and central banks, has expanded its cooperation agreement with Neterium, an innovative API-native and cloud-native screening provider. Sanction screening is growing in importance to ensure firms are not knowingly or unknowingly conducting business with organizations or individuals who have been placed on sanctions lists arising from any jurisdiction. Failure to comply with sanctions can lead to regulatory exposure, reputational damage, and operational disruption.
All corporations need to identify, prevent, and manage sanctions-related risks by analyzing geographical and jurisdictional exposure for all parties involved in the business. To that end, corporates need access to all relevant sanctions lists. They use advanced technology to screen all their reference and transactions data 24/7, while minimizing false positives. Neterium’s Jetflow provides an infinitely scalable transaction screening API and has partnered with ION Treasury at one of the largest automotive customers to ensure their compliance with global sanctions.
ION Treasury’s Wallstreet Suite payment factory provides a payment hub for cash movements, including financial trade settlements and operational payments, along with a payments workflow. Together, ION and Neterium ensure that all settlements passing through Wallstreet Suite’s payment factory are screened using Jetflow as they go through the payments workflow before being sent to the bank.
The combined ION/Neterium solution can address large volumes of payments to thousands of suppliers. This ensures compliance with global sanctions, advancing their capability and providing certainty and transparency not previously available.
“Partnerships are key to Neterium’s success,” says Luc Meurant, Neterium CEO. “We partner with digital platforms, financial services providers, solutions, and data vendors to add advanced screening capability to their platforms and solutions, enhancing their customers’ experience. We value our partnership with ION as we share a commitment to using technology as an enabler of business success, continually developing solutions that address the market’s evolving needs.”
“At ION, we help our clients transform their businesses through continuous innovation,” confirms Richard Grossi, ION Corporates CEO. “By designing solutions and services that turn complexity into simplicity, boost efficiency, and enable better decision-making, we help our clients remain compliant and manage risks effectively, for long-term success. Neterium’s watchlist screening APIs play a key role in enabling a robust and reliable end-to-end solution.”