Discussed significant progress and strategic initiatives. Key highlights included the current status and future outlook of membership, emphasizing active engagements and integration of new members.

Presented notable advancements in the API testing phase, emphasizing member feedback being crucial for future improvements. Presented new focus on integrating external data sources to enhance data packs. Various pricing models and a Revenue Share proposal were introduced to align with the consortium's sustainable commercial strategies. Branding strategies were explored to strengthen market presence and visibility. The meeting underscored the consortium's dedication to growth and collaborative success.

Agenda:

Member update
Update on testing the API
Augmentation with external signals
Commercials & Pricing
Branding

October 3, 2023

Covered significant progress in member expansion and operational development. The meeting opened with updates on new member integration and emphasized the importance of member referrals and demonstrations.

A key agenda item was the Proof of Concept (POC) onboarding process, which outlined necessary steps, timelines, and technical requirements to facilitate member engagement. The product roadmap was a major focus, highlighting three key services and the introduction of new data packs, with an invitation for members to participate in upcoming design sessions.

The meeting also addressed the development of a pricing model for the consortium's services, soliciting member feedback for refinement and future voting. A risk assessment update covered control areas and operational procedures, leading to actionable directives for members to facilitate technical coordination and feedback for the continuous improvement of the consortium's offerings.

Agenda:

Observers
Update on new members
Update on testing the API
Product roadmap
Pricing options
Operations

August 8, 2023

Covered Sonar expanded team, welcoming new members and enhancing its leadership in business operations and technical support. The meeting underscored the growth of the member pipeline, highlighting collaborations with financial institutions to address emerging market needs.

Key outcomes included the ratification of updated Operating Rules, emphasizing legal compliance, and a detailed walkthrough of the API testing process to encourage active member engagement. The roadmap for future risk data packs and investment strategies was also discussed, alongside exploring Sonar's role in supporting risk management. The session concluded with directives aimed at consortium expansion and soliciting feedback on the service.

Agenda:

Introduction of new members
Review and ratification of operating rules
Update on testing and API
Product roadmap
Investment framework options for the future

Frequently Asked Questions

What is required to participate in the consortium?

Membership is predicated on participants being permissioned parties that can access appropriate data under existing legal frameworks, including the Gramm-Leach-Bliley Act (GLBA) and Section 314(b) of the USA PATRIOT Act, to prevent fraud and money laundering. Participants are not required to proactively contribute any data. All that’s required for participation is transactional feedback for each API call.

To learn more about becoming a member, visit joinsonar.com/contact.

How will the consortium be governed?

The consortium is structured as an independent organization with a privacy-oriented data-sharing framework. Consortium members will own the cumulative data, and members will set up mutually agreed-upon operating rules and data governance to determine when and how the data will be used. Learn more about our Operating Rules.

Does participation in the consortium require customer disclosures?

Current data-sharing use cases are allowed under GLBA and Section 314(b) of the USA PATRIOT Act. Any data shared under GLBA is done under disclosures established with merchants contributing the data to prevent fraud. Any data shared under Section 314(b) does not require additional disclosures to the customer.

Is the data anonymized?

All inquiring information and feedback data is anonymized amongst consortium members.

How can I test this consortium?

We make the API available for proof of concept (POC) arrangements. Interested parties can access the API for 90 to 180 days to score ongoing transactions. Alternatively, you can send 90 days of previous transaction activity and we’ll score those transactions against known results. Contact us to learn more.

How will the consortium handle false positives and other forms of entity resolution?

The technology behind the data-sharing framework has built-in controls preventing re-identification, and members can review the tech stack fully. Founding members of the consortium decide various operating rules. Learn more about our Operating Rules.

Governance

Upcoming meetings

Past meetings

Frequently Asked Questions

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