Salt Bank taps Napier AI for Transaction Monitoring in Romania

By Gloria Methri

Romania’s first neobank, Salt Bank, has teamed up with financial crime compliance company Napier AI. Salt Bank will deploy Napier AI’s Transaction Screening solution to ensure that the hundreds of millions of transactions Salt Bank handles are safe from fraud risks.

This solution is equipped with:

• a user-friendly interface with customisable workflows;
• deployment in the cloud;
• a sandbox environment for optimising screening configurations;
• configurable dashboards with no-code rule building and AI insights for efficient decision-making

Salt Bank offers a superior digital experience for the new generation of customers who prefer banking on their smartphones.

The collaboration reinforces Salt Bank’s commitment to robust tools within the current AML ecosystem, which is being reshaped by dynamic changes in regulations, evolving ML/TF and fraud risks, and ever-increasing customer demand for a seamless online experience.

Partnering with an AML RegTech with NextGen technology and scalability will help the neobank to address consumer demands for faster, more convenient ways to bank and strengthen its AML framework.

Gabriela Nistor, CEO of Salt Bank, said, “We chose the Napier AI platform because it offered NextGen technology, which enables us to strengthen our financial crime controls and matches our drive to offer clients a seamless digital experience within a robust regulatory-compliant environment. It is part of our amazing project to disrupt the Romanian banking sector as its first 100% digital bank Made in Romania. Napier’s cloud-native platform was deployed at speed, delivering us tangible results for financial crime tools when launching as a neobank.”

Greg Watson, CEO of Napier AI, said, “Napier AI’s Transaction Screening solution is set to help Salt Bank succeed in setting a new standard for banking in Romania. It is an exciting time for the industry and market. I am excited to see how we work together to bring best-in-class financial crime compliance to the next generation of digital banking users.”