What do you think defines current era of banking? Established in around 2000 BC, banking is one of the oldest industries in the world. The first ATM in the 190s was revolutionary, and online banking which is an everyday norm, first emerged as early as the 1980s. Since Banking as a Service emerged, we are now in a new era of banking, in which financial services are integrated into non-financial retail products. As with any new innovation in the financial services world, BaaS comes with its own set of inherent risks, and these have been called out by regulators. BaaS could be revolutionary for not just banking, and fintech, and to do its potential justice, financial crime compliance should not be an afterthought. Key considerations should include: ❗ It is important that BaaS providers maintain a risk-based approach when it comes to ensuring compliance. 🧔 Every customer will come with their own risk profile, customer base, transaction volumes and varied products and services. ⚖️ Striking the right balance between instant customer experiences and achieving financial crime compliance Read here: https://hubs.li/Q02J2nzy0 #AML #BaaS #FCC #riskbasedapproach
Napier AI
Software Development
London, Greater London 16,031 followers
Our AI-driven AML solutions transform financial crime compliance from legal obligation to competitive edge.
About us
We are compliance technology specialists. Our platform is founded on broad experience and deep expertise; and our products increase efficiency and minimise risk by successfully combining big data technologies with AI and machine learning. It all adds up to the world’s first truly intelligent compliance platform. But tech is only half the story. Our intelligent approach is applied to underpin your policy, process and procedure, so you can focus on specific outcomes. The Napier platform is fast, scalable and easily configurable, as well as user-friendly. It rapidly strengthens your AML defences and trade compliance capabilities, while meeting your company’s compliance obligations and challenges in any sector.
- Website
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http://www.napier.ai
External link for Napier AI
- Industry
- Software Development
- Company size
- 201-500 employees
- Headquarters
- London, Greater London
- Type
- Privately Held
- Founded
- 2015
- Specialties
- Big Data, Machine Learning, Business Process Management, Anti-money Laundering, FCPA, Business Decision Management, AI, Transaction Monitoring, Sanctions Screening, Payment Screening, Compliance Technology, AML, Transaction Screening, and Regulatory compliance
Locations
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Primary
1 Poultry
London, Greater London EC2R 8EJ, GB
Employees at Napier AI
Updates
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Napier AI reposted this
Our latest article is out! The amazing Dr Janet Bastiman is a legend within the AI/ML space and is currently the Chief Data Scientist at Napier AI and the Chair of the Royal Statistical Society's Data and AI Section. Janet is talking with Richard Stockley as part of our Future of Finance series, providing her insights into how the world of finance is evolving and how “intelligence driven” Anti-Money Laundering and compliance technology can rise to the challenges of different payment devices, microtransactions, and digital currencies. There are also some juicy AI/ML topics like ethics, hallucinations, and data quality 😊 Article link is in the comments 👇 Give us a follow if you want to know when future articles drop☝️ #WomenInTech #WomenInLeadership #AntiMoneyLaundering #AML #FinacialCrime #FutureOfFinance #Microtransactions #AI #ArtificialIntelligence #ML #MachineLearning #DataScience #GenerativeAI #LLM #Crypto #DigitalCurrency #AIEthics #AIHallucinations #DataQuality #Innovation
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The Australia Government’s department of the Attorney General recently published a consultation with the aim of simplifying, modernising and clarifying the current AML regime. Napier AI commented on questions that sought to replace the current prescriptive AML/CTF program and Customer Due Diligence (CDD) requirements with clear, risk-based and outcomes-focused obligations. Read our response and recommendations here https://hubs.li/Q02H2zsl0
Napier AI response to Australia Government’s AML reform consultation
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Our Disrupt Fincrime series continued in Sydney with a private dinner for 20 industry leaders, where we discussed deploying #AI to tackle AML challenges. This insightful exchange sparked plenty of debate and, coupled with Sydney's stunning nighttime view, made for an unforgettable evening. Thank you to everyone that joined us! If you’re interested in reading the key takeaways from the Sydney session take a look here: https://hubs.li/Q02GHWLh0 William Monk Kevin McGuinness Anson Sim Michelle Kam
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The wealth and asset management sector plays a crucial role in national economies, helping consumers manage their assets and achieve financial goals. However, it faces significant risks from bad actors seeking to launder money. Regulatory scrutiny is increasing globally, with the US Financial Crimes Enforcement Network (FinCEN) proposing new rules for investment advisors to implement formalised AML programs. Similar actions are being taken by regulators in the UK and Australia to enhance financial crime compliance. Learn how effective AML/CTF programs are essential to protect the sector and maintain the integrity of financial systems: https://hubs.li/Q02GHX4D0 #AML #WealthManagement #AssetManagement #Compliance #FinancialCrime
FCC regulations that wealth & asset managers should look out for
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The second stop for our Disrupt Fincrime event this year was New York! In the heart of the city, we brought together industry professionals to discuss how local regulation and market developments were impacting AML and how to utilise AI to overcome this. Here are the key takeaways from our New York session: https://hubs.li/Q02G9vGB0 Gil Irizarry Araliya Sammé Greg Watson #AI #AML #Financialcrime
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As we enter the second half of the year, one marked by increasing global conflict, looming regulatory updates, an impending presidential election, and evolving attitudes toward technology, sanctions compliance has never been more important, and it is especially a focus in the United States. Tyler Curry, Regional Director, NALA recently chaired a Sanctions panel at the ACAMS Boston Chapter. In this latest blog he shares learnings about the new US sanctions regulations and how financial institutions can prepare for increased screening scrutiny. Considerations include: ☑️ Increased due diligence: maintaining records for a longer time period to meet the needs of OFAC 🌐Contextual name matching: for increased sanctions screening scrutiny 📊 No-code sandbox: for configurable dashboards and testing to plan for all eventualities Read here: https://hubs.li/Q02G0kLQ0 #AML #US #Sanctions #OFAC #AI
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🎉 We recently hosted our Disrupt Fincrime event in London in collaboration with Transform Finance, bringing together industry experts to discuss how to navigate AI implementation whilst meeting regulatory requirements. Financial institutions are facing the dual pressures of adopting AI technologies while navigating a complex regulatory landscape. From evolving AML typologies to changing regulatory frameworks and ever-updating watchlists, the journey toward AI implementation for AML transaction monitoring and client screening is filled with both challenges and opportunities. A big thank you to all the industry experts that joined us on the day and shared their insights, if you’re interested in learning more about the key takeaways you can find them here: https://hubs.li/Q02FNwSb0 William Monk Araliya Sammé Greg Levene #AI #AML #FinancialCrime #Compliance
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A truly energising and action-packed week for Napier AI in Sydney last week! Starting with our inaugural Napier AI Exchange. We engaged with our valued clients to outline key development areas in our product roadmap. We gathered valuable insights on how we can help them meet their customers', stakeholders', and regulators' expectations. Then at the Sydney #TransformFinance event, we hosted an industry roundtable. We delved into how regulators are engaging with #AI deployment in AML and the emphasis on collaboration between technology providers, policymakers, and practitioners. It was great to connect face-to-face with the financial crime fighting community – see you next time Sydney! Kevin McGuinness William Monk Anson Sim Charlie Rainbird Rini Ng Anthony Pannell Michelle Kam #FinCrime #AML #Sydney #NapierEverywhere
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🚀 What an incredible day at the Napier AI Exchange event in Sydney! Today, we witnessed the power of collaboration and connection firsthand. Engaging with clients and exploring the future of AI and innovation together. Highlights include - 🔗 Collaboration: The exchange of ideas was nothing short of inspiring. We shared insights and forged new pathways for forward-thinking solutions. 🤝 Connect: Strengthening relationships with our clients and partners was invaluable, solidifying a community dedicated to innovation. 📈 Product Roadmap: Attendees got an exclusive look at our latest advancements and exciting future developments. Thank you to everyone who joined us and contributed to shaping the future of AI. William Monk, Kevin McGuinness, Anson Sim, Michelle Kam, Saranga Silva, Rini Ng, Anthony Pannell #NapierAIExchange #AI #Innovation #AML