Napier Provides AML Controls for Cross-Border Payments Specialist ONEPIP

Napier Provides AML Controls for Cross-Border Payments Specialist ONEPIP

by August 11, 2021

Napier, provider of advanced anti-financial crime compliance solutions, has announced that cross-border payment specialist ONEPIP will be using its technology as part of the latter’s upgraded anti-money laundering (AML) controls.

The regtech firm’s AI-led transaction monitoring, client activity review and risk-based scorecard review will give ONEPIP a systematic, intelligent review of all its transactions and customer profile data to help identify suspicious activity quickly and easily, creating a robust compliance solution.

ONEPIP reports that it has processed over 25,000 transactions worth over US$4.5 billion in value since 2016. It has licensed operations in Hong Kong and Singapore, and planned expansion in the region.

Dagian Cheong, Head of Risk Management at ONEPIP said,

“ONEPIP is on a continual quest to collaborate with best-in-class technology innovators, to integrate with our proprietary FX management platform, to meet the exacting standards of all our stakeholders, which include regulators and partner banks. We are particularly grateful to the Monetary Authority of Singapore for awarding us with the Digital Acceleration Grant which helped fund this project.”

Robin Lee, Head of APAC at Napier

Robin Lee

Robin Lee, Head of APAC at Napier said,

“Financial services organizations continue to face mounting pressures to ensure that their regulatory compliance measures are constantly up to date and robust enough to identify any potential criminal activity, or face huge fines. With Napier’s advanced and intelligent technology, this can move from being a mandatory duty to a competitive edge. ONEPIP’s new solution enhances its regulatory compliance regime to further strengthen its position as the trusted cross-border payment specialist in the region and beyond.”


Featured image credit: Screengrab from ONEPIP website