OUR PARTNERS

Dow Jones Risk & Compliance

Discover our series: “Navigating success through strategic partnerships"

At Neterium, we take pride in our strategic partnerships with industry-leading data partners to deliver unparalleled screening solutions.

Elevating the standard of watchlist management, Neterium assumes the responsibility of hosting, updating, and meticulously managing lists for our valued clients.

In this pursuit, we are honoured to partner with Dow Jones Risk & Compliance, a global powerhouse renowned for providing best-in-class risk data, integrated technology solutions and due diligence services for managing regulatory and reputational risk.

Join us as we engage in an in-depth conversation with Vera Akiotu, Director Financial Crime Compliance Proposition at Dow Jones Risk & Compliance, to explore the dynamics of the Neterium and Dow Jones Risk & Compliance partnership.

1) Can you introduce yourself? As the Director of Financial Crime Compliance Proposition, I am responsible for developing and executing strategies with both banking and non-banking financial institutions in Europe. Most recently, I spent ten years at Dow Jones as a senior sales executive, working with large financial institutions on their financial crime needs, specialising in both the operational and regulatory landscape surrounding AML/KYC and transaction screening.

2) In the context of dealing with sanctions screening, the importance of a trusted third-party data provider is paramount. What, in your perspective, defines "high-quality" data in this context? Sanctions screening is a vital component of a firm's financial crime framework, safeguarding businesses from unlawful engagement with sanctioned companies, entities, or individuals. Our sanctions data is curated by our in-house global research team, ensuring our clients adhere to international regulations and guidelines, thus maintaining compliance. We believe that high-quality data is fundamental to our commitment to providing accuracy, completeness, and timeliness. Our dedication to data quality is maintained through a rigorous process of sourcing, validation, and continuous updates, all designed to support effective risk management.

3) What do you see as the key challenges faced by financial institutions and fintechs in terms of their KYC and sanctions screening? Financial institutions and fintech companies are currently navigating challenges in KYC and sanctions screening processes. The evolving geopolitical landscape has led to increasingly complex sanctions and financial regulations, demanding greater agility from these institutions. Firms are facing unprecedented scrutiny and operational pressure from internal audits, management, and regulatory bodies due to the sheer volume and frequency of sanctions. There is greater coordination among various sanctioning bodies, a sustained, intense focus on sanctions, and the rising complexity of sanction types. It's notable that the understanding of sanctions now extends beyond directly sanctioned entities to include those owned or controlled by sanctioned individuals. To address these challenges, many firms are adopting real-time sanctions screening for faster and more accurate operations. Furthermore, there's a clear trend toward continuous monitoring, moving away from periodic checks, to enable the prompt identification of suspicious activities and updates to sanctions lists. These advancements are contributing to more effective and efficient sanctions screening practices.

4) From your standpoint, what is the added value brought by the partnership between Neterium and Dow Jones Risk & Compliance? The strategic alliance between Neterium and Dow Jones Risk & Compliance marks a significant leap forward in addressing the complex challenges faced by financial institutions and fintech companies worldwide. The value brought by this collaboration is designed to empower clients by seamlessly integrating Dow Jones’s high-quality risk and compliance data with Neterium’s cutting-edge technological advancements, particularly its high-speed, scalable, and easily integrable API. The core of this partnership lies in its ability to tackle critical issues in transaction and counterparty screening addressing the ever-evolving regulatory landscape and the sheer volume of global sanctions lists leading to more effective and efficient practices. The global reach of the partnership supports compliance across multiple jurisdictions, helping institutions navigate diverse regulatory landscapes.

5) Looking ahead, how do you envision the integration or potential integration of AI components in screening data at Dow Jones Risk & Compliance? Dow Jones is already embracing AI to enhance our screening processes. AI's ability to analyse vast amounts of unstructured data allows us to identify relevant information and correct inconsistencies, leading to more reliable datasets for screening. Furthermore, we leverage Natural Language Processing to interpret unstructured data sources, such as news articles, providing valuable real-time insights. Additionally, automating routine tasks like screening and reporting frees our human resources to focus on more complex analysis. At Dow Jones, our approach combines human expertise with artificial intelligence and automated solutions, creating an effective hybrid we call Authentic Intelligence. This collaboration between machines and humans enables us to transform high-quality news into smart and valuable data.