UK-based financial crime compliance regtech Napier has announced the launch of two new services for its AML platform Napier Continuum
UK-based financial crime compliance regtech Napier has announced the launch of two new services for its AML platform Napier Continuum. As per the information detailed in the press release, Napier introduced the two services Napier Continuum Live and Napier Continuum Flow to deliver its knowledge in supporting financial institutions to improve their Anti-Money Laundering (AML) solutions focusing on compliance.
Napier’s offering capabilities As a plug-and-play hosted offering, Napier Continuum Live provides the capabilities of the Napier Continuum platform to organisations aiming to go live and comply with regulatory requirements in an accelerated manner. The service, which can be leveraged for both client screening and transaction monitoring, includes: Licencing, hosting, and service fees in a single contact; Bundled data for client screening; Artificial intelligence (AI) models; Predefined implementation configuration packages for a simplified go-live experience; Rules and typologies libraries customised to user sectors, including banking, payments, and wealth and asset management; Implementation pathways with Napier’s Professional Services team. According to Napier’s officials, the company aims to make financial crime compliance accessible to all financial institutions with the launch of Napier Continuum Live.
Previously, teams or organisations requiring a path to modern, AI-enabled financial crime compliance needed to choose between functionality and speed. By introducing its new offering, Napier aims to eliminate this issue by offering a platform preconfigured to their requirements, combining its product with market knowledge. Furthermore, Napier launched Napier Continuum Flow, a headless API service developed for organisations wanting to implement AI-enabled financial crime compliance intelligence into their existing infrastructure. By leveraging Napier Continuum Flow, organisations are set to be able to route alerts from Napier’s screening and monitoring engines into their existing workflow for case management.
Through this, the company intends to equip customers with enhanced detection rates and minimised false positives from Napier Continuum, and explainable and auditable AI insights in their existing workflow for a fast Return on Investment (ROI) and decreased Total Cost of Ownership (TCO). Representatives from Datos Insights underlined that financial crime compliance represents an increasingly complex task as regulatory mandates continue to expand, forcing organisations without large teams or resources to integrate enhanced solutions. The company collaborates with financial institutions globally, seeing an expanding demand for dynamic tools that have analytics and intelligent automation embedded into their configuration and rules, with a focus on explainability and transparency. By launching Napier Continuum Live and Continuum Flow, the company intends to allow all financial institutions to access improved screening and monitoring capabilities in line with compliance and technology strategies.
.
Feb 07, 2024 10:57
Original link