UK regtech Napier AI secures £45m funding from Crestline Investors
London-headquartered regtech Napier AI has landed a £45 million investment from US-based Crestline Investors to help boost its planned business expansion.
Napier AI lands £45m investment
Founded in 2015, Napier harnesses big data technology alongside artificial intelligence (AI) and machine learning to provide corporate compliance and anti-money laundering (AML) solutions.
The financial crime compliance firm, which currently claims to serve 150 institutions, states that the cash injection will drive its growth ambitions and exemplifies the “transformational time in the industry for know your customer (KYC) and anti-money laundering solutions”.
In addition, the company says that the investment will fuel the further development of its new explainable AI-powered screening and monitoring offerings.
Speaking on the firm’s recent financial backing, Greg Watson, CEO at Napier AI, says that “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”.
Will Palmer, managing director of Texas-based investment firm Crestline, believes Napier’s AI-powered tech platform, Napier Continuum, is strategically positioned to enable financial institutions to “excel in an environment with rapidly expanding transaction volumes and increasing regulatory requirements”.
The announcement of Napier’s recent investment comes hot on the heels of its partnerships with financial firms including UK challenger Starling Bank, France’s Lyra Group, and St James’s Place.
