Monetary crime compliance firm Napier AI has partnered with Romania’s Salt Financial institution.
Salt Financial institution will deploy Napier AI’s transaction screening answer to guard transactions towards quite a lot of fraud dangers.
Napier AI made its Finovate debut at FinovateEurope 2018 in London.
Romania’s first neobank, Salt Financial institution, has teamed up with monetary crime compliance firm Napier AI. Salt Financial institution will deploy Napier AI’s Transaction Screening answer to make sure that the a whole lot of hundreds of thousands of transactions Salt Financial institution handles are secure from fraud dangers.
“We selected the Napier AI platform as a result of it supplied NextGen know-how which allows us to strengthen our monetary crime controls and matches our drive to supply shoppers a seamless digital expertise, inside a strong regulatory setting,” Salt Financial institution CEO Gabriela Nistor mentioned.
Salt Financial institution sought out Napier AI’s know-how to make sure that it is ready to maintain tempo with evolving cash laundering, terrorist financing, and fraud dangers on the one hand, and client demand for a seamless digital expertise on the opposite. Napier AI’s Transaction Screening product contains a person pleasant interface with customizable workflows, a cloud-based deployment, a sandbox setting for optimizing screening configurations, and a configurable dashboard with no-code rule constructing and AI insights.
“Napier AI’s industry-leading Transaction Screening answer is about to assist Salt Financial institution reach setting a brand new commonplace for banking in Romania,” Napier AI CEO Greg Watson mentioned. “It’s an thrilling time for the {industry} and market, and I’m excited to see how we work collectively to carry best-in-class monetary crime compliance to the subsequent era of digital banking customers.”
Based in 2015 and headquartered in London, U.Ok., Napier made its Finovate debut at FinovateEurope in 2018. On the convention, the corporate demoed its Buyer Screening and Transaction Monitoring Enhancement software program. By addressing gaps in present legacy methods’ AML and shopper screening options – and increasing their shelf life – Napier’s know-how allows organizations to boost the efficiency of their present fraud prevention processes.
Napier AI’s partnership information comes one month after the corporate teamed up with affect asset supervisor Finance in Movement. Finance in Movement will deploy Napier AI Continuum – together with its Shopper Screening answer and Shopper Threat Evaluation module – as its AML and counter terrorist financing platform. Earlier this yr, Napier AI secured an funding of $56.6 million (£45 million) from Crestline Traders.
“We’re excited to work with the Napier AI workforce and imagine their market-leading, AI-powered know-how platform is well-positioned to assist monetary establishments and different regulated corporations excel in an setting with quickly increasing transaction volumes and growing regulatory necessities,” Crestline Managing Director Will Palmer mentioned when the funding was introduced in February.
Picture by Adrian Frentescu
