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Boost efficiency with our innovative AI Advisor and STR Builder

Napier
June 11, 2021

Our latest product release v1.13 delivers two distinct features: a game changing Suspicious Report Builder and all new AI Advisor. Together, these two ground-breaking additions will drive efficiency in AML and Screening while supporting regulatory requirements.

Meet our Suspicious Report Builder

Our new Suspicious Report Builder facilitates faster, safer filing of suspicious transaction reports through automatic form completion and stringent data security. Its three key benefits are set to transform any compliance function by allowing:

Auto form completion

Collecting data from across the Napier platform, Suspicious Report Builder automatically completes up to 80% of the required information for any suspicious transaction report in the world. This greatly improves the reporting process making it faster and more secure.

Data security

Encrypted form completion ensures robust data security and reduces the risk of breaching reporting regulations.

Auto suspicious report submission

Where permitted, the Suspicious Report Builder enables direct form submission. Alternatively, the user can download a prefilled STR form that is tailored to the specific financial intelligence units to allow easy alternative submissions.

Meet our AI Advisor

This innovative new feature introduces smarter false positive reduction and increased efficiency inscreening. Discover its four main features below:

Increased efficiency

By training AI Advisor to recognise what a good match looks like for your particular risk appetite, it can determine whether an alert requires further analyst review. Analysts can increase their efficiency and effectiveness by focusing on what AI Advisor identifies as a good match.

Complementing a rule-based approach

Rules catch clients and transactions within set parameters, while AI Advisor determines how good the match was and if it warrants further investigation. AI Advisor shows the components that contribute to the score so you can make an informed decision on the quality of the match.

Reducing false positives in screening

The additional insights from AI Advisor which analyse multiple additional variables over and above the rules criteria help to reduce false positives further by up to 40%. As end-user confidence in AI Advisor builds, it can be used to assist in the rapid discount of poor matches whichare more likely to be false positives.

Understanding the advisors’ decisions

Featuring excellent explainability, AI Advisor provides an explanation which helps the user to understand the key factors that were influential in its decision. As well as fulfilling regulatory obligations, this ensures users can quickly understand why an alert has been created and what is unusual about it.

Find out more in our product release notes here.

Explore our new product features

Find out more about the new product features in our 1.13 product release notes, or book a demo to see the solutions in action.