Napier, the London-based financial crime compliance RegTech, is pleased to announce that Napier Continuum has been selected as the anti-money laundering (AML) platform for one of Europe’s fastest growing Banking as a Service (BaaS) digital banking providers.
Napier is providing its Transaction Monitoring, Transaction Screening, Client Screening, Client Risk Assessment and Client Activity Review solutions as part of the Napier Continuum platform to Satchel, to support its large growth in providing BaaS solutions globally to any financial institution looking to expand into financial products without its own technology stack or banking license.
Napier’s solutions will equip Satchel with complete financial crime compliance for anti- money laundering and counter terrorist financing (AML/CTF), and will be integrated into Satchel’s own white labelled BaaS platform. Bringing the power of Napier’s intelligent compliance to Satchels’ global customer base.
Key features in the Napier platform that aligned with Satchel’s own modern technology include:
- API enabled for speedy and smooth onboarding of clients;
- Configurable dashboards with no-code rule building and AI insights for efficient decision-making;
- Sandbox environment to finetune and optimise screening configurations;
- Real-time and batch screening, supporting transliteration of 22 languages, AI fuzzy matching and secondary scoring capabilities across all payment types;
- Real-time graphical analysis of customer behaviour to analyse anomalies and understand the risk profile.
Satchel was created to make it seamless for new fintechs to launch their propositions, with a fully functional and compliant technology platform to underpin their business. As such it was crucial for Satchel to find a compliance partner that could match its promise to bring continuous innovations to its platform in a Software as a Service (SaaS) offering, and deliver on its promise to employ smart security features that answer for full compliance and safety of the end customers’ funds.
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