Napier selected by Satchel to provide AML platform

Napier, the London-based financial crime compliance RegTech, has announced that it has been selected as the anti-money laundering (AML) platform for Satchel.

Napier, the London-based financial crime compliance RegTech, has announced that it has been selected as the anti-money laundering (AML) platform for Satchel.

The Napier Continuum platform, with its Transaction Monitoring, Transaction Screening, Client Screening, Client Risk Assessment, and Client Activity Review solutions, has been chosen by Satchel to support its significant growth in providing BaaS solutions globally.

The partnership aims to deliver complete financial crime compliance for anti-money laundering and counter-terrorist financing (AML/CTF) within Satchel’s white-labelled BaaS platform.

Napier’s solutions will be integrated into Satchel’s platform, providing Satchel’s global customer base with the power of intelligent compliance.

Key features of the Napier platform that align with Satchel’s modern technology include API enablement for speedy onboarding, configurable dashboards with AI insights, a sandbox environment for screening configurations, and real-time and batch screening supporting various languages and payment types.

Satchel, a prominent BaaS digital banking provider, was created to facilitate the seamless launch of propositions for new fintechs. The platform offers a fully functional and compliant technology platform, ensuring compliance and safety of end customers’ funds.

Napier is a RegTech that specialises in delivering anti-money laundering and financial crime compliance software to banking, payments, and wealth & asset management firms. Trusted by over 200 institutions worldwide, Napier’s platform, Napier Continuum, is transforming compliance into a competitive edge.

Sergiy Barybin, Satchel’s CEO, said, “With this partnership, Satchel is poised to lead the evolution of Banking as a Service to include Compliance as a Service, delivering secure, innovative, and customer-centric solutions to meet the evolving needs of our customers. Napier’s NextGen screening and monitoring solutions enable our compliance team to deal with ever-increasing transaction volumes and new alternative payment types, positioning Satchel at the forefront of industry change. Our collaboration not only ensures not only compliance but also sets new benchmarks for transparency and customer care, levelling the fintech playing field.”

Greg Watson, Chief Executive Officer at Napier noted, “Napier is proud to join forces with Satchel in redefining digital banking services globally. Our cutting-edge compliance solutions empower Satchel with real-time monitoring, AI insights, and sandbox capabilities. Together, we navigate the evolving regulatory landscape, setting new standards for innovation, security, and transparency in digital banking for the next generation of FinTechs.”

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