Refinitiv has partnered with Napier, a leading anti-money laundering
(AML) and intelligent compliance software provider, to offer a
next-generation transaction monitoring solution designed to help
corporates and financial institutions tackle money laundering and combat
emerging threats in financial crime.
The partnership offers Napier’s advanced analytics, automation and
transparent artificial intelligence, backed by Refinitiv’s World-Check
Risk Intelligence data, to meet an evolving range of AML compliance
requirements.
“One of the most important challenges financial services firms face
today is protecting themselves from money laundering, external and
internal fraud and other financial crime-related activities,” said Phil
Cotter, Managing Director of the Risk business at Refinitiv. “Together,
Refinitiv and Napier will bring significant advancements in technology
combined with trusted risk intelligence to help organizations monitor
transactions and screen for suspicious financial activity.”
Napier’s AML solution consists of advanced artificial intelligence based
products to help customers combat evolving threats in financial crime
through transaction monitoring, customer and transaction screening. This
allows businesses to review transactions and identify suspicious
behaviour, perform client and entity screening according to current
policies and regulations, and manage the process through standard
workflow, analytics and rules-based assessment.
World-Check Risk Intelligence provides users with structured data
retrieved from reliable, reputable, public domain sources for risk
screening purposes. This information will help firms fulfill their due
diligence obligations and identify potential financial and related
crime, as well as politically exposed persons, sanctioned entities and
other areas of concern.
“The technology we’ve developed at Napier is changing the world of
compliance and few firms can claim to have developed their AML solution
with integrated AI from the outset to the same degree. We know
technology alone isn’t the answer – it’s also about how it is
implemented to underpin policy, process and procedure. This approach
lets us deliver on outcomes in line with the compliance challenges
companies face,” said Julian Dixon, Napier CEO. “Partnering with
Refinitiv is a huge endorsement of our work to create a truly
intelligent compliance platform and we’re excited about the response to
this new development.”
Using big-data architecture along with artificial intelligence and
machine learning, the Napier solution rapidly ingests and processes
hundreds of millions of transactions, client records and all reference
data. Users can define scenarios by means of an intuitive user interface
without the need for complex coding – and identify high-risk clients and
transactions while minimizing false positives.
In addition, it provides a full audit trail on all user-and
system-generated actions and accelerates AML processes throughout the
workflow.
To learn more, visit: www.refinitiv.com/world-check
About Napier
Napier is a new breed of anti-money laundering (AML) and trade
compliance business. Its advanced platform increases efficiency and
minimizes risk by successfully combining big data technologies with AI
and machine learning. Napier’s intelligent approach is applied to
underpin AML policies, processes and procedures, enabling customers to
focus on specific outcomes. The Napier platform is fast, scalable and
easily configurable, as well as user-friendly. It rapidly strengthens
AML defences, while meeting compliance obligations and challenges in any
sector. For more information, visit www.napier.ai
About Refinitiv
Refinitiv is one of the world’s largest providers of financial markets
data and infrastructure, serving over 40,000 institutions in over 190
countries. It provides leading data and insights, trading platforms, and
open data and technology platforms that connect a thriving global
financial markets community – driving performance in trading,
investment, wealth management, regulatory compliance, market data
management, enterprise risk and fighting financial crime. For more
information, visit: www.refinitiv.com
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