KUALA LUMPUR, Oct 13 -- RegTech company, Napier, provider of advanced anti-financial crime compliance solutions, has announced integrated point-of-sale (POS) and payment solutions startup, Qashier, is the latest to adopt its anti-money laundering (AML) technology.
Having recently applied for the Major Payment Institution licence under the Singapore Payment Services Act (PSA), Qashier will use Napier’s Transaction Monitoring, Client Screening, Risk-Based Scorecard and Client Activity Review tools to identify suspicious activity as it happens, and comply with Monetary Authority of Singapore (MAS) regulations.
Named Best AML/CTF Solution in the Regulation Asia Awards for Excellence last year, Napier works with financial organisations globally, providing an AI-enhanced intelligent compliance platform, with its APAC presence strengthened earlier this year with the opening of a new Kuala Lumpur base, adding to its Singapore, London, North America, Australia and Dubai offices.
In a statement, Robin Lee, Head of APAC at Napier, said: “As we head further towards a cashless society, we’re mindful that this also opens up new opportunities for criminals. It’s imperative that financial service providers can leverage the best technology available to stay ahead of the threat with robust compliance systems.
“Through our AI-enhanced technology, organisations can make validated decisions with speed and accuracy, rapidly strengthening their AML defences and compliance capabilities.”
Founded by Christopher Choo and Frank Zhao in February 2019, Qashier’s advanced platform powers small and medium-sized retail and F&B businesses by combining a smart POS system, integrated payment acceptance, and advanced software solutions.
Eric Peh, Head of Compliance at Qashier, said: “At Qashier, we are experiencing heightened interest from a variety of businesses for our technology and as we continue to expand, it is crucial to have an AML offering that will scale and grow with us, and allow us to play our part in preventing financial crime.
“Napier’s solution not only satisfies that need, but the platform is also customised to our requirements, something that we couldn’t find in other vendors.”
-- BERNAMA
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