The Swiss digital bank Alpian will use the Napier Continuum financial crime compliance platform.
The developer of the platform, Napier, announced the partnership in a press release on Wednesday (Dec. 7), stating that it will supply Alpian with its full suite of financial crime compliance solutions.
Napier Continuum includes a range of anti-money laundering (AML) features such as transaction monitoring, screening, risk assessment tools, and artificial intelligence-powered analysis and reporting.
“Switzerland has some of the strictest banking regulations in the world and, as its first digital private bank, ensuring we’re fully compliant is critical,” Alpian’s CEO and co-founder, Schuyler Weiss said.
“Partnering with Napier arms Alpian with the most advanced compliance technology in the market, enabling us to meet and exceed the benchmark of the regulators, as well as deliver a trusted service to our customers,” he added.
Alpian launched as Switzerland’s first private digital bank in October, catering to the banking needs of the mass affluent.
Related: UK Digital Banks Set Sights on Underserved Mass Affluent Segment
For example, last month it launched a multicurrency metal debit card that can hold Swiss francs, euros, British pounds and U.S. dollars.
Commenting on the new partnership, Greg Watson, Napier’s CEO, said that “Alpian are one of those organizations that we get excited to work with because we share that ethos of championing technological innovation. This partnership will help them futureproof their operations and support their global growth.”
Beyond banks, Napier said that its platform is also suitable for a range of financial institutions including payment service providers, asset management firms, foreign exchange businesses and cryptocurrency exchanges.
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