Concentrix Company and Napier AI are teaming as much as assist corporations improve their anti-money laundering and counter-terrorism financing operations.
Integrating Napier AI’s compliance platform into Concentrix’s community of monetary crime capabilities will allow companies to spice up their fraud prevention efforts with banking-grade, AI-powered options.
Napier AI made its Finovate debut at FinovateEurope 2018. The London-based monetary crime prevention specialist was based in 2015. Greg Watson is CEO.
A brand new collaboration between Concentrix Company and monetary crime specialist Napier AI will ship superior, AI-powered anti-money laundering (AML) options to corporations in banking and monetary providers, in addition to Tranche 2-impacted corporations throughout Australia and New Zealand.
The collaboration provides Napier AI’s compliance platform to Concentrix’s community of monetary crime and regulatory know-how capabilities, leveraging clever transformation, knowledge, and operational excellence to allow corporations to remodel their fraud prevention and monetary crime operations with banking-grade, AI-powered AML and sanctions screening capabilities. The partnership will assist corporations detect and cease monetary crime with larger accuracy and velocity, scale back the danger of false negatives, decrease the quantity and frequency of false positives, use automation and clever workflows to streamline compliance processes, and improve regulatory reporting and audit readiness.
“No person ought to have to decide on between efficient compliance and enterprise progress,” Napier AI Head of Asia Pacific Ron Mullins stated. “By partnering with Concentrix, we’re combining cutting-edge AI know-how with world scale and transformation experience to assist organizations throughout ANZ rethink how they strategy monetary crime—making compliance smarter, quicker, and extra trusted.”
Designed for banks and credit score unions, the collaboration may even profit Tranche 2-impacted corporations akin to actual property brokers, accountants, authorized practitioners, and different skilled service suppliers. These entities are anticipated to be topic to AML and counter-terrorist financing (CTF) rules as soon as Tranche 2 of Australia’s Anti-Cash Laundering and Counter-Terrorism Financing (AML/CTF) reforms is totally applied. Tranche 1 of the framework, which focuses on conventional monetary establishments like banks, credit score unions, and cash switch providers, was applied in 2006.
“Monetary crime compliance is at a pivotal second in ANZ, the place establishments should steadiness rising regulatory calls for with the necessity to ship seamless buyer experiences,” Concentrix GVP of Progress for ANZ Dhiraj Kumar stated. “Our collaboration with Napier AI enhances our broader ecosystem of capabilities, strengthening our means to ship clever, tech-powered options that assist purchasers keep forward of monetary crime whereas driving operational effectivity and innovation.”
A world know-how firm, Concentrix Company helps greater than 2,000 purchasers remedy enterprise challenges through a mix of distinctive knowledge and insights, deep business experience, and superior know-how options. An clever transformation associate and member of the Fortune 500, Concentrix serves corporations in verticals starting from banking and monetary providers to healthcare, e-commerce, power, transportation, and extra. The agency lately unveiled its immersive expertise middle, iX360: a hands-on atmosphere that offers purchasers the chance to see know-how in motion and perceive the way it helps buyer and operational wants.
Napier AI made its Finovate debut at FinovateEurope 2018. On the convention, the corporate demonstrated its buyer screening and transaction monitoring enhancement software program, which boosts the efficiency of legacy AML and consumer screening options. The corporate’s flagship answer, the Napier AI Continuum platform, integrates a number of compliance options right into a single dashboard and gives cloud-native, API-first structure to make sure low-latency efficiency with out disruption throughout transaction spikes. Based in 2015, Napier AI as we speak is trusted by greater than 100 establishments around the globe, with purchasers together with Banco do Brasil, NVIDIA, and State Avenue. Greg Watson is CEO.
Photograph by Anthony DELANOIX on Unsplash
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