The many technical challenges presented by Covid-19 have enabled us to develop a much more robust system of processing that can adapt to varying internet conditions. However, the Russia/Ukraine conflict; increased Government censorship; cyber-attacks and the increased volatility in weather conditions caused my global warming suggest that we are unlikely to see stability return to the internet for some time, if ever again.
We continue to optimise processing times and work towards automating our processes. We doubt whether 100 percent automation is achievable across our entire range of products but the more assignments we undertake, the closer we get to achieving this objective. Our comfort is that even if a competitor could replicate our algorithm and databases, the almost 10 years of “learning curve” we have gone though means that we will never lose market leadership.
Our GreyList Red database now contains almost 50,000 entries covering sanctioned individuals, enterprises and PEPs. We are now underway on our first Red assignments. Red can be used as a primary screening tool, but we are seeing significant interest in deploying it in supplementary risk screening.
We are nearing completion of our own, in-house, data centre. We continue to use secure external facilities and all our data, until deleted, is stored and backed up in at least three locations. We have a very stable core team of technical specialists who we continue to train. Our processing capacity is now sufficient to handle at least treble our existing workload.