Napier, a financial crime compliance specialist, has partnered with Lyra to provide the latter advanced transaction monitoring and hosting.
The partnership will see Napier provide Lyra with advanced transaction monitoring and hosting, and the capability to further scale its business globally.
Lyra was accredited by French regulatory body ACPR in 2017. Through its offer Lyra Collect, it provides POS services, mobile and e-commerce solutions throughout Europe, including international means of payments and different payments methods (recurring, one click, etc.).
The new transaction monitoring solution from Napier will help Lyra improve its compliance framework. It will be implemented in two phases, initially using Napier’s existing transaction monitoring rules, before the two organisations collaborate on creating additional rules based on specific typologies tailored to Lyra’s risk profile.
With its sights set on global expansion, Lyra aims to replace its legacy tech with Napier’s advanced solution to meet the highest level of compliance standards, all while scaling up transaction volumes with speed and accuracy.
Napier CEO Greg Watson said, “Payment solutions is one of the fastest growing digital commerce services around the globe. To cater for billions of payments annually, payments providers need to be equipped with the best transaction monitoring and risk management framework. We are confident that, with our intelligent framework, Lyra can offer the most secure and regulated payment options to its customers worldwide.”
Alpian previously partnered with Napier to implement the latter’s end-to-end risk management platform for the bank.
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