Concentrix Company and Napier AI are teaming as much as assist firms improve their anti-money laundering and counter-terrorism financing operations.
Integrating Napier AI’s compliance platform into Concentrix’s community of economic 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 firms in banking and monetary companies, in addition to Tranche 2-impacted companies throughout Australia and New Zealand.
The collaboration provides Napier AI’s compliance platform to Concentrix’s community of economic crime and regulatory expertise capabilities, leveraging clever transformation, information, and operational excellence to allow firms to remodel their fraud prevention and monetary crime operations with banking-grade, AI-powered AML and sanctions screening capabilities. The partnership will assist firms detect and cease monetary crime with higher accuracy and pace, cut 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 mentioned. “By partnering with Concentrix, we’re combining cutting-edge AI expertise with international scale and transformation experience to assist organizations throughout ANZ rethink how they method monetary crime—making compliance smarter, sooner, and extra trusted.”
Designed for banks and credit score unions, the collaboration may even profit Tranche 2-impacted companies resembling 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) laws as soon as Tranche 2 of Australia’s Anti-Cash Laundering and Counter-Terrorism Financing (AML/CTF) reforms is absolutely carried out. Tranche 1 of the framework, which focuses on conventional monetary establishments like banks, credit score unions, and cash switch companies, was carried out in 2006.
“Monetary crime compliance is at a pivotal second in ANZ, the place establishments should stability growing regulatory calls for with the necessity to ship seamless buyer experiences,” Concentrix GVP of Development for ANZ Dhiraj Kumar mentioned. “Our collaboration with Napier AI enhances our broader ecosystem of capabilities, strengthening our capability to ship clever, tech-powered options that assist shoppers keep forward of economic crime whereas driving operational effectivity and innovation.”
A world expertise firm, Concentrix Company helps greater than 2,000 shoppers clear up enterprise challenges by way of a mixture of distinctive information and insights, deep trade experience, and superior expertise options. An clever transformation companion and member of the Fortune 500, Concentrix serves firms in verticals starting from banking and monetary companies to healthcare, e-commerce, power, transportation, and extra. The agency just lately unveiled its immersive expertise middle, iX360: a hands-on surroundings that offers shoppers the chance to see expertise 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 resolution, the Napier AI Continuum platform, integrates a number of compliance options right into a single dashboard and offers cloud-native, API-first structure to make sure low-latency efficiency with out disruption throughout transaction spikes. Based in 2015, Napier AI right this moment is trusted by greater than 100 establishments around the globe, with shoppers together with Banco do Brasil, NVIDIA, and State Avenue. Greg Watson is CEO.
Picture by Anthony DELANOIX on Unsplash
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