Napier AI is to become the new anti-money laundering (AML) platform for Salt Bank, the first Romanian neobank. Napier AI provides its Transaction Screening product in a cloud environment, to Salt Bank. The solution will enable Salt Bank to handle 100s of millions of transactions easily.

This solution is equipped with a user-friendly interface with customisable workflows, deployment in the cloud, a sandbox environment for optimising screening configurations and configurable dashboards with no-code rule building and AI insights for efficient decision-making.

With its name rooted in the Romanian word for leap, the neobank hopes to enhance Romanian banking. It offers a digital experience for the new generation of customers who prefer banking on their smartphones.

The collaboration reinforces Salt Bank’s engagement in having robust tools within the current AML ecosystem

The current AML ecosystem is being reshaped by dynamic changes in regulations, evolving ML/TF and fraud risks, and ever-increasing customer demand for a seamless online experience.

Partnering with an AML RegTech with NextGen technology and scalability will help Salt Bank address consumer demands for faster, more convenient ways to bank and strengthen its AML framework.

Gabriela Nistor, CEO of Salt Bank, said: “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 compliant environment. It is part of our amazing project to disrupt the Romanian banking sector as its first 100% digital bank Made in Romania. Napier’s cloud-native platform was deployed at speed, delivering us tangible results for financial crime tools when launching as a neobank.”

Greg Watson, CEO, Napier AI, added: “Napier AI’s industry-leading Transaction Screening solution is set to help Salt Bank succeed in setting a new standard for banking in Romania. 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.”

"Napier AI and Salt Bank partner in Romania" was originally created and published by Retail Banker International, a GlobalData owned brand.

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