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TRANSACTION
MONITORING
Real-time monitoring of transactions
with 100+ inbuilt AML typologies
Built on big data architecture our Transaction Monitoring solution can handle hundreds of millions of transactions in a highly configurable dashboard. The solution has 100+ inbuilt AML typologies along with a sandbox environment to rapidly test and deploy rules.
Our clients include
AML transaction monitoring with AI-powered insights
Napier AI’s Transaction Monitoring solution is built for AML compliance teams to create, test and implement the rules needed to accurately flag suspicious activity. The 100+ prebuilt AML typology library is further enhanced by a no-code rule builder and a sandbox environment for organisations to tailor according to their business model and risk appetite.
The solution is highly configurable, automating task assignments and group alerts for streamlined efficiency with workflows. Using artificial intelligence, Napier AI Insights analyses multiple data-points to reduce false positives and negatives and identify suspicious patterns of activity that a rules-based system alone cannot.
Features./
Reduce risk and supercharge your compliance capabilities./
Napier AI's Transaction Monitoring is a powerful solution that provides a systematic, intelligent review of an organisation’s transactions. It is simple to deploy and is designed to be used by non-technical business users.
Built on big data architecture, our transaction monitoring solution can handle hundreds of millions of transactions with ease and enables businesses to rapidly strengthen their AML and CTF defences.
Next generation AML transaction monitoring
Napier AI’s AML transaction monitoring software enables compliance teams to efficiently monitor financial transactions for suspicious activity that may indicate money laundering.
Our SaaS transaction monitoring tool makes it easy for compliance teams to create, test and implement the rules needed to identify cases that require further investigation. Napier AI's software is enhanced by our AI insights module to deliver additional efficiencies.
Using artificial intelligence, Napier AI Insights analyses multiple data-points to further reduce false positives and negatives and identify suspicious patterns of activity that a rules-based system alone cannot.
An effective transaction monitoring system is crucial as part of your organisation’s AML strategy. Our transaction monitoring software equips compliance teams with a comprehensive and highly configurable view of transactions, empowering them to review alerts and make decisions with speed and accuracy.
Celent 2023 Financial Crime Compliance Technology:
AML Transaction Monitoring
Testimonials
Ensuring the highest standards of financial compliance is paramount in our mission to create a fair financial world for businesses globally. Partnering with Napier reinforces our commitment to the security and integrity of our platform, ultimately benefiting the ambitious businesses we serve.
Angela Knight
The transaction monitoring tool is really, really good. I couldn’t ask for anything better; I would definitely advise it to the compliance world.
I love how specific the rule detail can be;
it really helps reduce false positives.
Metkel Asfaha
Benefits
Improved risk management
The advanced rule-builder in our transaction monitoring tool improves overall risk management capabilities as transaction monitoring rules can be adjusted to each client’s risk level in accordance with the organisation’s risk policies.
Zero impact on day-to-day operations
Organisations can test new rules on production data in the integrated sandbox before going live, with zero impact on day-to-day operations.
Reduced false positives
The build, test and deploy capability within the software gives organisations greater control to calibrate rules in response to changing criminal behaviours and evolving regulations thereby reducing volumes of unnecessary alerts.
Reduced risk of false negatives and improved quality of alerts
By using AI Insights, organisations can detect unusual patterns in transactions that would not typically be flagged by standard rules, helping to reduce false negatives and spot truly suspicious behaviours.
Explainable AI improves decision-making
AI Insights are provided in plain language to explain the root cause of the anomaly which allows organisations to escalate or discount investigations rapidly.
Increased operational efficiency
The integrated no-code rule-builder and sandbox, the intuitive workflows and case management, the high rates of false positive and negative reduction and the use of explainable AI all deliver increased efficiencies across the board.
Reduced costs
Flexible deployment options, modern scalable architecture and increased operational efficiencies all contribute to a lowered total cost of ownership.
Detail
Define and build rules
Define and build rules easily with the intuitive interface that requires no coding to minimise false positives and detect anomalous transactions.
Our transaction monitoring tool provides a full audit trail on all user and system generated actions and automates processes throughout the workflow.
Simulate, test and deploy
Test and iterate new rules easily in Napier AI’s Sandbox.
The software's clear interface and drop-down menus make it simple to build rules and scenarios on real data, then test before going live.
As intelligence about suspicious behaviours is gathered, scenarios can be repeatedly tested to create even more effective rules. This flexibility means users can respond nimbly to changing financial crime compliance requirements and to changing criminal behaviours.
Enhance your analysis
Use machine learning to enhance transaction monitoring outcomes.
Our transaction monitoring system produces two scores: one from rule-based scenarios; and the other from advanced machine learning algorithms. Compare these scores to understand and prioritise daily workload.
Using a combination of transactions, watchlists and historical customer behaviour our tool's algorithms complement traditional rules-based reviews of customer activity and identify patterns that are difficult to spot amongst high volumes of data.
Manage cases and workflow
Teams can manage cases through a single, self-auditing platform that defines and unifies every step of an investigation.
View only the transaction monitoring data that is relevant to a defined workflow with our highly configurable dashboard. With access to a palette of over 80 widgets, users can control and configure what they see to ensure it is relevant and specific to their task.
Napier’s AI Insights for Transaction Monitoring
Our AI Insights engine is the perfect complement to transaction monitoring.
It can look at customer transactions through a completely independent set of lenses, analysing billions of transactions across multiple dimensions to detect anomalies.
This would take humans many years to complete alone, at great cost.
Napier AI’s Artificial Intelligence Insights engine is a powerful addition to Napier AI Transaction Monitoring, delivering operational efficiencies while enriching the system’s ability to detect suspicious activity that indicates potential money laundering, terrorist financing, or other illicit activity more effectively.
Watch our Transaction Monitoring solution overview video
Get a quick overview of the Napier solution
Downloads
Blog
Designed to be used with Napier AI’s Transaction Monitoring and Screening solutions, the Regulatory Reporting Manager helps compliance teams collate necessary data to build and submit high quality suspicious activity reports to the relevant enforcement agency securely and on time.
Napier AI’s Regulatory Reporting Manager can help reduce the time involved in compiling suspicious transaction reports, with encrypted form-building providing complete assurance against tipping-off, and auto-collation accelerating the process.
Watch our introductory video
Get a quick overview of the Napier AI platform
Our solutions
Transaction Monitoring
Transaction
Screening
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Knowledge Hub
Anti money laundering (AML) transaction monitoring is the process of monitoring a customer’s transactions such as transfers, deposits and withdrawals. A transaction monitoring system will seek to identify suspicious behaviour which could indicate money laundering or other financial crime occurring.
Transactions that the monitoring system flag as suspicious need to be investigated to determine whether the alert is a true hit or a false positive. True hits should be filed as a suspicious transaction report (STR)* to alert law enforcement to suspected cases of money laundering or terrorist financing. Ongoing transaction monitoring is a regulatory requirement for the wide range of business sectors that come under money laundering regulations.
Financial crime is an umbrella term which refers to any illicit act by which the perpetrator illegally acquires the property of the victim. There are several categories and multiple scales of financial crime, and both perpetrator and victim can be economies, governments, businesses, or individuals.
With sophisticated methods of criminal behaviour constantly evolving, an organisation’s exposure to fincrime risk has never been higher.
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