Crypto Firm BCB Group Implements Robust AML Compliance Technology With Napier

Distributed by Business Wire
17th August 2021

LONDON–(BUSINESS WIRE)–RegTech company and provider of advanced anti-financial crime compliance solutions, Napier, has announced that its sophisticated AI-enhanced technology has been chosen by BCB Group, a crypto-dedicated provider of payments, business accounts and trading services for the digital asset economy.

BCB Group will use Napier’s Transaction Screening and Transaction Monitoring tools to flag any suspicious activity as it happens, and to support its ongoing commitment to leading the way with anti-money laundering compliance in the UK crypto market.

BCB Group became the first crypto-focused company to be regulated as an Authorised Payments Institution by the UK Financial Conduct Authority and provides an end-to-end suite of payment processing, cryptocurrency trading, foreign exchange and custody services. The Group works with some of the leading blockchain companies, including cryptocurrency exchanges, market makers, brokers, investment managers, hedge funds and digital asset investment funds.

Oliver von Landsberg-Sadie, Founder and CEO at BCB Group, said: “Since establishing BCB Group four years ago, we have always prided ourselves on our commitment to best practice and having the highest regulatory standards in the UK crypto market. Because of this, it was essential for us to adopt the very best anti-financial crime technology, and that’s where Napier comes in.

“An integral part of our onward anti-money laundering compliance strategy, Napier’s AI-enhanced solutions will allow us to focus on the fast evolution of digital asset innovation while remaining in full compliance with some of the most stringent regulations in force globally.”

BCB Group joins a growing list of companies around the world that have partnered with Napier in their anti-financial crime compliance, including tier one banks, payment services, FX, crypto and other financial services. With a presence in the UK, North America, Australia, Singapore and the Middle East, Napier’s global footprint is also growing, recently establishing its UAE-base in Dubai.

Julian Dixon, CEO of Napier, said: “Our technology reduces the growing compliance burden on firms such as BCB Group. It can spot unusual transactions, reduce false positives and identify risk easily and quickly, relieving the pressure on internal teams. This is increasingly as important for operators in emerging financial services markets, such as crypto, as it is for traditional institutions. Our solution is agile and robust enough to provide advanced compliance support across the board, even as financial crime continues to evolve in its complexity.”