Source: UK Tech
Napier AI, a London-based financial crime compliance software provider, has raised £45m in debt financing from US investor Crestline.
Founded in 2015, Napier AI develops anti-money laundering solutions for the banking, payments and asset management industries.
Clients use Napier’s software to screen, monitor and identify suspicious activities and to perform regulatory reporting directly from the platform, which is called Napier Continuum.
“Financial crime compliance operations and regulatory pressure continue to be large overheads for financial institutions,” said Greg Watson, CEO of Napier AI. “There is a need to invest in next-gen AI-enhanced solutions with the benefit of trusted technology and delivery.”
Will Palmer, managing director at Crestline, said the company’s “AI-powered technology platform is well-positioned to help financial institutions and other regulated companies excel in an environment with rapidly expanding transaction volumes and increasing regulatory requirements”.
Read full article: https://www.uktech.news/saas/napier-ai-45m-debt-funding-20240221
