Napier Launches Two New Service Offerings for Enhanced AML Compliance
In a move that aims to strengthen Anti-Money Laundering (AML) practices within the banking and payments sectors, Napier, a leading London-based regulatory technology firm specializing in financial crime compliance, has unveiled two sophisticated solutions. These new offerings, Napier Continuum Live and Napier Continuum Flow, are set to provide fintechs with the advanced analytics and intelligent automation they need to bolster their screening and monitoring capabilities.
Napier Continuum Live: A Quick Route to Compliance
The introduction of Napier Continuum Live presents a significant advantage for organizations seeking a swift passage to regulatory compliance. This plug-and-play hosted service encapsulates the essence of the Napier Continuum platform, making it accessible for companies eager to operationalize as quickly as possible without compromising on efficiency or compliance.
Moreover, the package offers licensing, hosting, and professional services fees in a single, consolidated contract. This inclusivity extends to bundled data essential for client screening, out-of-the-box artificial intelligence (AI) models, and predefined implementation packages. These features ensure a seamless transition to the go-live phase, complemented by a repository of rules and typologies libraries crafted specifically for sectors such as banking, payments, and wealth and asset management.
Greg Watson, CEO at Napier, highlighted the innovative breakthrough, stating, “Historically, teams or organizations seeking a swift yet proven track to modern, AI-driven financial crime compliance had to forego functionality for speed. Nevertheless, Napier Continuum Live offers a comprehensive package, pre-configured to meet their precise needs, amalgamating our product prowess and market insights.”
Napier Continuum Flow: Intelligent Compliance Integration
Apart from Napier Continuum Live, the firm introduced Napier Continuum Flow, a headless API service crafted for organizations aspiring to embed AI-enhanced financial crime compliance intelligence into their existing infrastructure seamlessly. This service enables businesses to channel alerts from Napier’s cutting-edge, AI-powered screening and monitoring engines directly into their current workflows, facilitating case management.
Customers employing Napier Continuum Flow stand to benefit from heightened detection rates and a reduction in false positives, courtesy of Napier’s advanced technology. The service also provides explainable and auditable AI insights, which can be integrated into existing workflows. This integration not only accelerates the Return on Investment (ROI) but also diminishes the Total Cost of Ownership (TCO).
Reflecting on the needs of the market, Watson further added, “We have observed a growing demand amongst digital-first clients in the banking and payments sectors who are keen on incorporating the intelligence that Napier can offer into their own technology stacks for screening and monitoring. It’s indeed a testament to our capabilities that numerous fintechs, renowned for their proprietary platforms, opt to collaborate with Napier for their compliance mandates.”
Conclusion
With the launch of Napier Continuum Live and Napier Continuum Flow, Napier has decidedly reinforced its commitment to providing cutting-edge, AI-driven solutions to the financial industry. These new offerings not only promise to expedite the path to compliance but also integrate seamlessly into existing systems, allowing fintechs to leverage advanced analytics and intelligent automation for more effective financial crime detection and prevention. As the digital banking and payments landscape continues to evolve, partnerships like these between fintechs and regulatory technology firms will play a pivotal role in shaping the future of financial crime compliance.
