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ClearBank boosts transaction screening capabilities with Napier

May 7, 2021

We are excited to announce that we are providing our advanced Transaction Screening system to the cloud based clearing bank, ClearBank.

As a purpose-built, technology-enabled clearing bank, ClearBank offers cloud-based banking services to financial service providers, FCA-regulated businesses and fintechs. Using our AI enhanced Transaction Screening system, ClearBank will be able to identify sanctioned individuals and entities in payments, while reducing false positives and accurately alerting on risk.

Stuart Morley, CIO of ClearBank, commented: “As with all financial organisations, it is imperative that ClearBank has a robust sanction screening programme in place to support the industry in its constant battle against financial crime. Having gone through a thorough vendor selection process, we are delighted to have now joined forces with Napier, whose next-generation technology and AI-enhanced capabilities are leading the way in AML compliance. We feel this has the potential to become a long-term partnership with the RegTech provider.”

We currently work with institutions such as ClearBank around the globe to provide our AI-led platform for intelligent KYC, AML & trade compliance.

Julian Dixon, Napier CEO, said: “We are honoured to be the vendor of choice to help ClearBank supercharge its Transaction Screening. Our technology will help provide its agency and transaction banking services with a faster, smarter way to meet regulatory requirements while driving business efficiency.

“We are going to be building on this new relationship with ClearBank by partnering on future cutting-edge product development too, so there’s a lot to look forward to that will really raise the bar for the industry as a whole.”

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