Neterium tracks economic sanctions targets

Neterium detects the transactions of persons and entities targeted by economic sanctions. The young Belgian company wants to become a world leader in its sector.

Online tools developed by Neterium automatically detect people and organizations targeted by economic sanctions. Neterium is at the heart of the news today. His services are particularly in demand in the context of the war in Ukrainewhich triggered an avalanche of sanctions against Russia.

The armed conflict has, in fact, pushed the European Union, the United States and many other countries to economically sanction individuals, companies and entities considered close to the Kremlin. Lists of names have been compiled. The persons and organizations concerned have been put banned from world trade. They can no longer deal with most banks. They can no longer carry out transactions with their customers and suppliers.

Banks, fintech and crypto platforms

For these economic sanctions to be effective, it is necessary to have sophisticated detection tools. It is precisely this type of tool that the company Neterium develops. Created in 2017, this company based in Louvain-la-Neuve has been marketing its solutions since 2020. Its main customers are banks and fintechs. It also aims major platforms who manage many transactions such as Uber or Airbnb, as well as the cryptocurrency exchange platforms.

Neterium is a company specialized in screening, a field little known to the general public, but which has existed for years. In terms of economic sanctions, countries like Iran, Cuba or North Korea have outstripped Russia. “At first, the lists of names given by the states were quite precise. But gradually, it became more complex. Since Russia invaded Crimea in 2014, the sanctions strike persons identified by name, but also the entities that these persons control, directly or indirectly“, details Luc Meurant.



“There are approximately 100,000 names of economically sanctioned individuals and entities today.”

Luc Meurant

Neterium CEO

With the war in Ukraine, economic sanctions have piled up. Never had States taken so many successive measures in such a short time. “Today there are around 100,000 names of people and entities sanctioned”, estimates Luc Meurant. This former senior executive of Swift became CEO of Neterium in 2020. For his company, it is a question of being perfectly up to date and scrupulously following the decisions taken by the various States. Some lists overlap, but they are not in all respects identical between the United States, the European Union, Canada, Australia, Japan, etc. “Today, there is a great velocity of sanctions. We help our clients to implement very rapid changes“, emphasizes Luc Meurant.

Better detection thanks to AI



“Our detection tools are extremely sophisticated. We are capable of processing 100,000 transactions per second.”

Luc Meurant

Neterium CEO

The added value of the Belgian company, which employs around fifteen people, lies in its technology, explains its CEO: “Our detection tools are extremely sophisticated. We stand out for the quality of information and the speed of processing large masses of data, in real time. We are capable of processing 100,000 transactions per second”, points out Luc Meurant. To improve the performance of its solutions, Neterium uses artificial intelligence. AI makes it easier for the company to identify the origin of a name, which can be written in different ways depending on the alphabet used (Latin, Cyrillic, Chinese, etc.).

The problem of economic sanctions is not the only use case for the applications developed by Neterium. The company is also active in the field of KYC (Know Your Customer), which aims to precisely identify a consumer. She is also able to detect “politically exposed” personssuch as a minister and members of his family, or of identify people often mentioned in the press in a negative way (suspicions of corruption for example).

Ambition: global leadership

80

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80% of international transactions are screened by solutions developed by Neterium.

In the future, Luc Meurant is convinced that large companies will increasingly use its services. For ethical, environmental or reputational reasonsthey will have to monitor their suppliers much more closely: “Beyond economic sanctions, more and more criteria will be added to what is called risk profiling. Companies will want to know precisely who they are doing business with“, advances Luc Meurant.

Neterium operates in a niche sector, which is no less competitive. Around forty companies are vying for a market in which Neterium believes it is particularly well positioned: “80% of international transactions are screened by solutions that we have developed“, claims Luc Meurant. The CEO has a long-term project for his company: “We are in no hurry. We want to develop the best solution. Our ambition is to become a world leader in our field.”

The summary

  • Neterium develops online solutions to detect people and entities targeted by economic sanctions.
  • This young company based in Louvain-la-Neuve is able to screen, in real time, 100,000 transactions per second.
  • His services are crucial to ensure the effectiveness of the sanctions decided against Russia following the war in Ukraine.
  • Neterium aims to become the world leader in its sector.

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Neterium tracks economic sanctions targets


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