Napier AI, a London-based RegTech specialising in financial crime compliance, has partnered with Salt Bank, the first Romanian neobank and the fastest-growing in Southeastern Europe.
The collaboration aims to bolster Salt Bank’s anti-money laundering (AML) capabilities with Napier AI’s advanced platform.
Napier AI, known for its innovative AML and financial crime compliance solutions, will provide its Transaction Screening product to Salt Bank. This cloud-based solution is designed to handle hundreds of millions of transactions effortlessly, featuring a user-friendly interface, customisable workflows, a sandbox environment, and configurable dashboards with no-code rule building and AI insights for efficient decision-making.
Salt Bank, named after the Romanian word for leap, is set to revolutionise the Romanian banking sector. As a neobank, it offers a superior digital banking experience tailored to the new generation of smartphone-savvy customers.
The partnership is crucial for Salt Bank as it seeks to navigate the evolving regulatory landscape, address increasing fraud risks, and meet growing customer demand for seamless online banking. By integrating Napier AI’s NextGen technology, Salt Bank aims to enhance its AML framework and provide faster, more convenient banking solutions.
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, said, “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 is committed to supporting Salt Bank during its significant growth phase and setting a new benchmark for excellence in the banking and financial crime compliance industry.
Napier AI is a RegTech delivering anti-money laundering and financial crime compliance software to financial institutions, payments firms, and buy-side firms. Napier AI designs and engineers technological innovation to make a measurable difference in driving down financial crime. Trusted by over 150 institutions worldwide, the company’s platform, Napier AI Continuum, is transforming compliance from a legal obligation to a competitive edge.
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