noqodi partners with Napier to secure Digital Payments in the UAE
LONDON–(BUSINESS WIRE)–Napier, the London-based financial crime compliance RegTech, is pleased to announce it has been selected as the anti-money laundering (AML) platform for noqodi, the leading Digital Wallet and Payments Solution based in the United Arab Emirates (UAE).
Napier is providing its Transaction Monitoring, Client Screening, Client Risk Assessment and Client Activity Review solutions to noqodi, in order to further strengthen its commitment to supporting the government’s initiative to a secure, cashless, digital economy.
Napier’s solutions will equip noqodi with:
- A sandbox environment to finetune and optimise screening configurations;
- API enabled, real-time and batch screening, supporting transliteration of 22 languages, AI fuzzy matching and secondary scoring capabilities;
- Real-time graphical analysis of customer behaviour to analyse anomalies;
- Configurable dashboards with no-code rule building and AI insights for efficient decision-making.
The Middle East region is going into a tremendous period of digital payment adoption, with a 44 percent increase in digital payment volumes from small and medium enterprises (SMEs) in UAE alone in 2022. Supporting this is noqodi’s digital payment solution, which provides a unified and fully automated payments platform to send and receive money, integrated with partner merchants, banks and various government services for seamless transfers, now bolstered by NextGen monitoring and screening from Napier.
noqodi is looking to stay ahead of the curve in financial crime prevention to remain compliant to the standards of the UAE’s central bank.
Building on the announcement of the partnership between Napier and noqodi to fortify digital payments in the UAE, Zahi Kallab, General Manager of noqodi highlighted:
“This partnership with Napier marks a significant milestone for noqodi in our journey towards revolutionizing digital payments in the UAE. Our commitment to innovation, security, and compliance aligns seamlessly with Napier’s advanced solutions. Together, we aim to elevate the standards of financial crime prevention and contribute to the continuous growth and security of the digital economy in the region. This collaboration reinforces our dedication to providing a cutting-edge, secure, and compliant payments platform for our users, reflecting our strategic vision for the future of digital transactions in the UAE.”
Syed Zain Khalid, Risk and Compliance Manager at noqodi reiterated:
“Partnering with Napier has given us the autonomy to configure and scale our payments platform securely in this exciting period of growth for the company. We look forward to the positive impact this partnership will have on strengthening our risk management framework, streamlining our compliance processes, and setting new benchmarks for industry best practices.”
Greg Watson, Chief Executive Officer at Napier stated:
“noqodi is changing the face of digital payments for the UAE. We’re proud to deliver our real-time, NextGen compliance solutions to support this and set a new standard of compliance excellence in UAE’s financial landscape.”
About Napier
Napier is a RegTech delivering anti-money laundering and financial crime compliance software to financial institutions, payments firms and buy side firms. Napier designs and engineers technological innovation to make a measurable difference in driving down financial crime. Trusted by over 200 institutions worldwide, the company’s platform, Napier Continuum, is transforming compliance from a legal obligation to a competitive edge.
About noqodi
noqodi is a fintech company fully owned by emaratech and regulated by the UAE Central Bank. It is a powerful comprehensive payment solution built around fully digital account management, used to pay and also accept payments. Users can leverage any of our connected channels including noqodi own wallet (stored value), credit card, bank transfer, direct online banking), or even kiosks and exchange houses, to top-up their wallet (e-cash).
noqodi empowers a wide numbers of government entities and private merchants, who benefit from a unique integration to offer their customers any of many payment options available, and who can leverage all value-added services through our web portal or mobile app.
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Contacts
For media enquiries:
Elise Thrale
Head of Content, Napier
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