By ALISHA HOULIHAN for AML Intelligence
NAPIER AI, the London-based regtech, has landed £45m backing from Crestline Investors to fuel continued growth in AI-powered financial crime compliance (FCC).
Napier announced the investment from Crestline Investors, a US based alternative asset manager, to further accelerate its growth trajectory, highlighting the transformational time in the industry for KYC and AML solutions.
Napier AI was founded in 2015 and is a provider of AI-enhanced financial crime and regulation technology compliance software providing AML solutions across the banking, payments and wealth & asset management industries.
Its solutions are used by customers to screen, monitor and identify, criminal or suspicious activities, with the added functionality of regulatory reporting. Without these solutions, customers may be exposed to greater financial, reputational, and regulatory risk, or large operational overheads.
Since 2021, top-line revenue has grown at 30%+ year on year, as Napier AI has invested in its go-to-market organisation and bolstered its product line via dedicated R&D.
Crestline’s investment will help to further business expansion in the coming years, enabling Napier AI to continue developing and serving financial institutions with NextGen screening and monitoring solutions, powered by explainable AI that delivers true value.
“We are pleased to deliver strong, continuous growth in a challenging market. Financial crime compliance operations and regulatory pressure continue to be large overheads for financial institutions, so there is a need to invest in NextGen AI-enhanced solutions with the benefit of trusted technology and delivery,” noted Greg Watson, CEO at Napier AI.
“We are excited to work with the Napier AI team and believe their market-leading, 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,” said Will Palmer, Managing Director at Crestline.
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