Erste Group has partnered with Neterium to implement the latter’s transaction screening solution across the former’s services in Central and Eastern Europe. The system transition followed a one-year pilot phase with extensive testing and tuning, culminating in full deployment as of September 2024.

The partnership between Erste Group, a major financial service provider in Central and Eastern Europe, and Neterium, an API-native and cloud-based regulatory technology provider, was initially launched on 19 September 2023. Its primary aim has been to enhance Erste Group’s compliance infrastructure with a scalable, efficient transaction screening tool. Over the past year, the screening solution, Jetflow, underwent rigorous testing to ensure it aligns with the operational demands of Erste’s core markets.

Jetflow, Neterium’s main transaction screening solution, offers real-time, API-driven watchlist screening. The tool was designed to provide high throughput, low latency, and robust data analytics, aiming to increase transparency and efficiency for large-scale institutions such as Erste Group. Officials from Erste Group Bank AG, remarked on the integration and described it as an excellent fit for their current and future needs.

Neterium representatives talked about working with Erste Group during this transformation and described it as a significant experience. They also expressed their eagerness to move forward with this productive, long-term partnership. The completion of the integration marks a key development for both companies as they strengthen their capabilities in financial security and compliance across Central and Eastern Europe.

More information about the two companies According to the official press release, Erste Group is a financial service provider in Central and Eastern Europe with around 45,000 employees serving millions of customers through approximately 2,000 branches in seven countries, namely Austria, Czechia, Slovakia, Romania, Hungary, Croatia, and Serbia. As of mid-2024, Erste Group reported total assets of EUR 344 billion, a net profit of EUR 1.6 billion, and a Common Equity Tier 1 ratio (pro forma) of 15.5%. Neterium was founded in 2017 and is an API-native RegTech firm specialising in financial crime prevention.

The company provides SaaS solutions that integrate advanced screening capabilities into financial platforms, supported by the latest technologies and expertise in financial crime compliance. Source: Link .