UK-based company Napier has announced its partnership with KYC Portal CLM in order to provide financial institutions with an end-to-end compliance service. Following this announcement, the companies aim to eliminate siloes across multiple operations and capabilities by integrating Know Your Customer (KYC) and compliance processes within their products.

In addition, the integration between KYCP and Napier’s transaction monitoring modules will focus on ensuring an improved speed, security, efficiency, and accuracy in order to optimise the manner in which clients alert compliance professionals on the danger of risks and fraud in a fast way. At the same time, Napier’s integration with KYCP is set to provide updated customer data to its rules engine. This is based on real-time alerts and is expected to send notifications to KYCP if any of the rules are triggered.

In addition, it will update the transaction related information and data in the KYCP systems, in order to allow real-time automation of risk driven events in the overall lifecycle of a counterparty in KYCP. Napier’s past partnerships and product launches London-based financial crime and compliance regtech Napier announced multiple collaborations and developments in the last couple of months, covering several different geographic areas around the world. In November 2023, Napier partnered with 3S Money in order to provide its AML platform with needed features for protecting high-risk cross-border payments.

Following this announcement, Napier was expected to provide its Transaction Screening, Transaction Monitoring, and Client Screening modules to 3S Money. The incorporation aimed to strengthen the firm’s overall focus on the development of a secure and dynamic ecosystem of businesses. 3S Money also offered real-time, accurate screening, a sandbox environment for efficient rule-building, easy integration with the APIs that were within the Napier platform, and multiple screening configuration capabilities.

The strategic deal also focused on reinforcing the companies’ plan to deliver reliable and safe financial access for customers, as well as a fast and comprehensive suite of services, which were developed to allow clients to conduct global payments in an optimised way. Napier allowed 3S Money to adhere to regulatory compliance, while also leveraging it as a business advantage in order to meet the requirements present in the cross-border payments industry. Earlier in July 2023, UK-Based digital challenger bank Starling Bank announced its partnership with intelligence compliance technology company Napier in order to optimise the manner in which they fought financial crime.

According to the information provided in the press release published at the time, Napier was chosen as the anti-money laundering (AML) and counter-terrorism financing (CTF) technology platform of choice for the financial institutions. Starling Bank benefited from multiple capabilities, including deployment flexibility, no code configuration systems, secure and simplified integration to Napier’s platform via API, diagnostic strength, as well as expedited deployment, tuning, and testing. .