Napier, the global intelligent financial crime compliance technology company, has been identified as a Technology Standout by leading research and advisory firm Celent, in its Financial Crime Compliance Technology: AML Transaction Monitoring Edition of the 2023 XCelent Awards, Powered by VendorMatch.
The Transaction Monitoring solution from Napier Continuum was evaluated alongside 16 other vendor solutions. The next-generation technologies built into the platform are highlighted:
“Napier offers a fully featured transaction monitoring system built on a modern microservices architecture. The solution features a no-code user interface that enables configuration of rules by business users and provides prebuilt workflows for alert investigation and case management support.”
The systems evaluation also notes the extent to which Napier’s financial crime compliance expertise is built into the solution, including 160 prebuilt rules, alongside the capability to build, test, and tune new rules in the Napier Sandbox before implementing changes to the live environment.
This expertise includes the output of regulatory collaboration and innovation, “Napier has worked with the UK Financial Conduct Authority (FCA) to catalog financial crime typologies prevalent in the UK banking and payments sectors. Using both rules and machine learning, Napier has mapped these typologies into its solution.”
“Transaction Monitoring from the Napier Continuum platform is a strong solution, with a roadmap of continuous technology additions to the system,” says Neil Katkov, Director, Risk at Celent. “The no-code rules configuration, machine learning layer, and scalable and speedy processing were standouts in the solution evaluation.”
“We are delighted to be recognised by the Celent team,” says Greg Watson, Chief Executive Officer at Napier. “Celent is a badge of honour that is highly trusted by our clients in the banking, payments, insurance, and wealth management industries. We are proud of the transaction monitoring solution within the Napier Continuum platform, and this Technology Standout accolade reflects the investment that Napier has made to bring the next generation of financial crime compliance to the market.”
Read the full Celent Report here