Alpian , a Switzerland-based digital bank, and Napier , a provider of financial crime compliance solutions, have partnered to implement an end-to-end risk management platform. Napier will supply Alpian with its full suite of financial crime compliance technology solutions through its intelligent compliance platform, Napier Continuum, offering full AI-enhanced risk management capabilities across the entire risk profile of Alpian customers.

The Alpian platform caters to the banking needs of the mass affluent client segment, combining everyday banking with personalised investment services through its mobile app. Napier Continuum will bring together core anti-money laundering (AML) functions, including transaction monitoring, customer and transaction screening, as well as advanced risk assessment tools, ongoing AI-enhanced reviews, and intuitive reporting functionalities. Prior to its public launch in 2022, Alpian raised a USD 18 million Series B+ funding, and recently announced a partnership with Visa to offer its premium metal debit card across Switzerland.

As Alpian continues to grow, the private bank will reap the benefits of Napier’s AI-powered risk management solutions that will scale with its requirements, allowing it to respond nimbly to any evolving client or regulatory requirements. Napier’s AI-powered risk management solutions Napier’s primary focus is helping banks and financial institutions address money laundering and financial crime risks. Artificial intelligence (AI) plays an important role in this as it can identify patterns within large sets of data – way beyond human capability, or that of legacy technologies – and then present the intelligence that it has learnt from looking at these patterns to make recommendations.

This can be translated into the role of AML investigations, making AI an important ally in the fight against financial crime. The advantages of AI lay in its capacity to efficiently automate sizable, complicated, but well-defined processes. Financial institutions have been reluctant to embrace AI technology for years due to the difficulty in understanding them.

This made it challenging to understand the results and construct a case using the AI-assigned score. Now, advanced anti-financial crime systems are more approachable to non-data scientists thanks to our work on developing explainable AI. AML regulation in Switzerland Switzerland was ranked third on The Tax Justice Network's Financial Secrecy Index in 2020, indicating a lack of financial transparency.

Moreover, several Financial Action Task Force (FATF) Mutual Evaluation Reports (MER) have identified areas where Switzerland's AML/CFT infrastructure could have been strengthened. As a result, the Anti-Money Laundering Act (AMLA) and the Financial Market Supervisory Authority (FINMA), two autonomous organisations tasked with regulating AML in Switzerland, were passed by the Swiss government in response to the risks posed by financial criminals. The principal financial markets regulator for Switzerland, FINMA, is in charge of overseeing the nation's banks and financial institutions and making sure that all financial legislation is being followed.

In accordance with rules outlined in the Swiss Criminal Code and Switzerland's main AML/CFT law, the Federal Act on Combating Money Laundering and Terrorist Financing in the Financial Sector, also known as the Anti-Money Laundering Act, a significant portion of FINMA's role is combating money laundering in Switzerland. .