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Noqodi and Napier team to secure digital payments in the UAE

By Delisha Fernandes

December 13, 2023

  • Anti - Money Laundering
  • Banks
  • digital payment

Noqodi, Napier, RegTech, digital payments, financial landscape, Safeguarding payments, anti-money laundering, Digital Wallet, digital payment, SMEs, merchants, banks, Fintech news, Fintech UAENapier, a London-based financial crime compliance RegTech, has been selected as the anti-money laundering (AML) platform for noqodi, a digital wallet and payment 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.

Zahi Kallab, General Manager of noqodi, said, “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.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.”

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.

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.”

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