• Financial crime compliance company Napier AI has partnered with Romania’s Salt Bank.
• Salt Bank will deploy Napier AI’s transaction screening solution to protect transactions against a variety of fraud risks.
• Napier AI made its Finovate debut at FinovateEurope 2018 in London.

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Romania’s first neobank, Salt Bank, has teamed up with financial crime compliance company Napier AI. Salt Bank will deploy Napier AI’s Transaction Screening solution to ensure that the hundreds of millions of transactions Salt Bank handles are safe from fraud risks.

“We chose the Napier AI platform because it offered NextGen technology which enables us to strengthen our financial crime controls and matches our drive to offer clients a seamless digital experience, within a robust regulatory environment,” Salt Bank CEO Gabriela Nistor said.

Salt Bank sought out Napier AI’s technology to ensure that it is able to keep pace with evolving money laundering, terrorist financing, and fraud risks on the one hand, and consumer demand for a seamless digital experience on the other. Napier AI’s Transaction Screening product features a user friendly interface with customizable workflows, a cloud-based deployment, a sandbox environment for optimizing screening configurations, and a configurable dashboard with no-code rule building and AI insights.

“Napier AI’s industry-leading Transaction Screening solution is set to help Salt Bank succeed in setting a new standard for banking in Romania,” Napier AI CEO Greg Watson said. “It is an exciting time for the industry and market, and I am excited to see how we work together to bring best-in-class financial crime compliance to the next generation of digital banking users.”

Founded in 2015 and headquartered in London, U.K., Napier made its Finovate debut at FinovateEurope in 2018. At the conference, the company demoed its Customer Screening and Transaction Monitoring Enhancement software. By addressing gaps in current legacy systems’ AML and client screening solutions – and extending their shelf life – Napier’s technology enables organizations to enhance the performance of their current fraud prevention processes.

Napier AI’s partnership news comes one month after the company teamed up with impact asset manager Finance in Motion. Finance in Motion will deploy Napier AI Continuum – including its Client Screening solution and Client Risk Assessment module – as its AML and counter terrorist financing platform. Earlier this year, Napier AI secured an investment of $56.6 million (£45 million) from Crestline Investors.

“We are excited to work with the Napier AI team and believe their market-leading, AI-powered technology platform is well-positioned to help financial institutions and other regulated companies excel in an environment with rapidly expanding transaction volumes and increasing regulatory requirements,” Crestline Managing Director Will Palmer said when the investment was announced in February.

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Photo by Adrian Frentescu

• Impact asset manager Finance in Motion has teamed up with financial crime compliance specialist Napier AI.
• Finance in Motion will deploy Napier AI Continuum as its anti-money laundering and counter terrorist financing (AML/CTF) platform.
• London-based Napier AI made its Finovate debut at FinovateEurope in 2018.

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Financial crime compliance company Napier AI announced a partnership with impact asset manager Finance in Motion this week. The partnership calls for Finance in Motion to deploy Napier AI Continuum as its anti-money laundering and counter terrorist financing (AML/CTF) platform.

Additionally, Napier AI will include its Client Screening solution and Client Risk Assessment module as part of the Napier AI Continuum platform deployment. The objective is to provide Finance in Motion with the tools it needs to continue driving public and private capital toward impact investments in emerging markets – while ensuring that capital does not end up financing illicit or criminal activity.

Finance in Motion Managing Director Sylvia Wisniwski explained: “Like any institution, we have a duty to ensure that the public and private capital raised is used exclusively for the intended objectives, in our case impact investments in emerging markets. Accordingly, regulation requires effective measures to prevent funds from being used to finance criminal activities. The collaboration with Napier AI allows us to efficiently query data through automated processes and integrated systems.”

Napier AI Continuum will provide Finance in Motion with API-enabled, cloud native, automated client screening, and supports transliteration of 22 languages. The platform also offers AI fuzzy matching and secondary scoring capabilities. Finance in Motion will benefit from customizable workflows, a sandbox environment for optimizing screening configurations, and configurable dashboards with no-code rule binding and AI insights to drive efficient decisioning.

“The key to dismantling criminal networks lies in cutting off their sources of revenue entirely by correctly identifying accounts, transactions, and behavioural patterns associated with financial crime,” Napier AI CEO Greg Watson said. “Napier AI’s cutting edge compliance solutions supercharge Finance in Motion’s mission to generate positive change in emerging markets with automated client screening.”

Headquartered in Frankfurt, Germany and founded in 2009, Finance in Motion specializes in development finance. An impact asset manager, the company structures, advises, and manage both private debt and equity investments in emerging markets. The company supports financing of projects ranging from sustainable agriculture, renewable energy, and biodiversity, to micro-finance, natural capital, and affordable housing.

Finance in Motion has $2.8 billion (€3.6 billion) in assets under management or advisory, and has active investments in 39 countries. Last month, the company was featured in the ImpactAssets 50 roster of the top 50 impact managers in the world. The recognition was the eighth consecutive listing for Finance in Motion, which was named “Emeritus Impact Manager.”

Founded in 2015, Napier made its Finovate debut three years later at FinovateEurope 2018. At the conference, the company demonstrated how its Customer Screening and Transaction Monitoring Enhancement tools help improve AML oversight. The technology reduces false positives by up to 80%, and can be used to supplement or replace existing customer screening systems.

Napier began 2024 announcing a partnership with Banking-as-a-Service (BaaS) digital banking provider Satchel. The following month, Napier unveiled its Napier Continuum Live and Napier Continuum Flow services to facilitate the deployment of its AML platform. Napier Continuum Live is a plug-and-play hosted offering. Napier Continuum Flow is a headless API service.

Also in February Napier secured $56 million (£45 million) in funding from private equity firm Crestline Investors. The company said that the investment will help power business expansion over the coming years. The funds will also support Napier AI’s development of new NextGen screening and monitoring solutions powered by Explainable AI.

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Photo by Felix Mittermeier