UAE Napier incorporates AI into crypto payments for BCB Group
UAE based Napier has partnered with BCB group to implement its AI solution for BCB crypto payments service. The deal will see BCB leverage Napier’s Transaction Screening and Transaction Monitoring products, which will flag any suspicious activity as it happens. BCB Group claims it was the first crypto-focused company to be regulated as an Authorised Payments Institution by the UK’s Financial Conduct authority. Its platform offers an end-to-end suite of payment processing, cryptocurrency trading, foreign exchange and custody services.
Oliver von Landsberg-Sadie, Founder and CEO of BCB Group, said, “Since establishing BCB Group four years ago, we have always prided ourselves on our commitment to best practice and having the highest regulatory standards in the UK crypto market. Because of this, it was essential for us to adopt the very best anti-financial crime technology, and that’s where Napier comes in.
Napier has established similar partnerships with companies around the world, including tier one banks, payment services, FX, crypto and other financial services. Its products are used in the UK, North America, Australia, Singapore and the Middle East. The RegTech company recently increased its reach to the UAE.
Napier CEO Julian Dixon said, “Our technology reduces the growing compliance burden on firms such as BCB Group. It can spot unusual transactions, reduce false positives and identify risk easily and quickly, relieving the pressure on internal teams. This is increasingly as important for operators in emerging financial services markets, such as crypto, as it is for traditional institutions. Our solution is agile and robust enough to provide advanced compliance support across the board, even as financial crime continues to evolve in its complexity.”