LONDON–(BUSINESS WIRE)–Napier, provider of advanced financial crime compliance solutions, has partnered with one of UK’s top wealth management and financial planning specialists, St. James’s Place. The partnership will upgrade SJP’s client and entity screening capabilities, strengthening and enabling agility within its financial crime compliance function.
With Napier’s AI-enhanced screening solution, St James’s Place can leverage large-scale, ongoing customer screening and re-screening capabilities. The solution provides SJP with the tools to continuously screen entities against global watch lists of sanctions, politically exposed persons, adverse media, as well as any internal whitelists and blacklists, across the entire organisation.
Chris Thomas, Group Money Laundering Reporting Officer at St. James’s Place, said: “We are very pleased with the performance of the system to date. It enabled us to deal with the introduction of sanctions against Russia very effectively. At SJP we prioritise offering the most secure and compliant financial services solutions, and part of that commitment is investing in the best and most robust technologies available to always stay one step ahead of financial criminals”.
“The fact that we are now able to undertake daily screening means that management of the operational workflow is far more efficient. The system offers greater flexibility than the previous one, and there are lots of opportunities for further automation of the review and decisioning process.”
Julian Dixon, founder and CEO at Napier, said: “The regulatory landscape moves at a rate of knots, and organisations must be agile, continuously adapting their approaches to financial crime compliance. A single, rigid solution won’t keep an organisation secure for very long- which is why organisations must embrace flexible, modern technologies. Napier’s customer screening solution enables faster screening and decision making, which is why SJP’s journey with us has already seen its use of our solution expand.”
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