Technical and Product Update

The company is emerging from the many technical challenges presented by Covid-19. Given that the GreyList Algorithm operates in cyber space in every country in the world, the significant strains placed on the smooth and consistent running of the internet over the last 21 months generated a steep learning curve that the company had to overcome to maintain its operating capability.

The company has continued to reduce processing times and work towards automating its processes. Automation is now at or close to 100 percent in many areas. The company is testing a portal that will allow clients to enter and transmit data to GreyList under 100 percent secure conditions, monitor the progress of assignments and then retrieve the results of the assignments.

The company is well advanced in building a totally unique database of sanctioned individuals, enterprises and PEPs. This database will underpin the formal launch of GreyList Red, which is anticipated to occur in March or April 2022. Red can be used in its own right but its most powerful use will be as a supplementary risk screening tool.

The company continues to run a very tight ship with a core technical team of no more than 10 people. We anticipate a need to recruit another five to six people by the mid-point of the year, primarily working on populating and updating databases. We also plan a significant expansion of our processing capability. We currently expect to finance this expansion from internal cash flows.