Napier and Rosette Deliver Peace of Mind for Compliance Screening Challenges

Compliance departments within financial institutions (FIs) are under tremendous pressure to keep up with anti-money laundering (AML) and know your customer (KYC) screening obligations while staying within budget. Continually hiring more staff to conduct screening and investigate alerts is not sustainable. Instead, FIs need technology that increases screening efficiency by reducing false positives, which account for up to 90% of alerts. At the same time, screening must adapt to rapidly-evolving compliance regulations.  

Napier’s intelligent compliance platform is built on new technologies including cloud-based, big data architecture, with AI and machine learning capabilities to efficiently and effectively streamline workflows. Napier’s screening modules are powered by Rosette, strengthening financial crime compliance teams’ defenses.

Basis Technology delivers a modern, intelligent approach to name matching with Rosette. It meets these needs by using a blend of approaches, including language-aware artificial intelligence (AI) that is specially trained to match names in European, Chinese, Japanese, and Korean languages without translation. Its algorithms recognize a wide variety of name variations, and integration hooks allow Rosette to plug into and enhance any existing system.
In this short video, Hwee Kun Ho, Head of Sales, APAC at Napier, and Jeanne Le Garrec, Regional Director, ASEAN for Basis Technology, discuss challenges around screening and the technology behind screening systems.