Salt Bank, Romania’s inaugural neobank, has partnered with Napier AI, a financial crime compliance firm, to enhance its transaction security measures. By implementing Napier AI’s Transaction Screening solution, Salt Bank aims to safeguard its vast volume of transactions from potential fraud risks.
Gabriela Nistor, CEO of Salt Bank, expressed confidence in Napier AI’s technology, citing its NextGen capabilities and seamless integration with Salt Bank’s commitment to providing clients with a secure digital banking experience while complying with regulatory standards.
Napier AI’s Transaction Screening solution offers a range of features, including a user-friendly interface, customizable workflows, cloud-based deployment, a sandbox environment for optimization, and a configurable dashboard with AI insights, all aimed at enhancing financial crime controls.
Greg Watson, CEO of Napier AI, emphasized the partnership’s potential to set a new standard for banking in Romania. Napier AI’s technology is designed to address gaps in current AML and client screening solutions, empowering organizations to bolster their fraud prevention processes effectively.
This collaboration follows Napier AI’s recent partnership with impact asset manager Finance in Motion, where Napier AI Continuum, including its Client Screening solution and Client Risk Assessment module, will serve as the AML and counter terrorist financing platform. Moreover, Napier AI secured a significant investment of $56.6 million from Crestline Investors earlier this year, further underscoring its growth and market potential in the financial crime compliance sector.