Napier and IQ-EQ partner to provide leading AI compliance capabilities

By Nikita Chaurasia  | Date: 2022-11-03

Napier and IQ-EQ partner to provide leading AI compliance capabilities

World leading end-to-end intelligent compliance platform, Napier has announced that IQ-EQ, a well-known investor services group, is reportedly updating its screening capabilities to AI-enhanced Client Screening from Napier.

Apparently, Napier’s Client Screening solution will further improve the existing IQ-EQ systems by screening clients automatically at regular intervals against PEP (Politically Exposed Persons) lists, sanctions and other key watchlists.

The AI capabilities will also assist IQ-EQ to lower the false positives whilst enabling faster screening.

For the unversed, IQ-EQ offers a range of compliance administration, asset, and advisory services to its overall client base, which includes 11 of the world’s most renowned 15 private equity firms.

Under this portfolio, assets under administration beyond USD 750 billion and across 24 jurisdictions are also included.

Commenting on the latest development, Sally Alayarian, Group Chief Risk Officer, IQ-EQ, stated that IQ-EQ aims to help investors to focus on their investment and preserve the capital in a compliant and sustainable manner.

Sally further highlighted that with multiple brands under their umbrella and across various international markets, the firm frequently encounters data silos that make the screening procedures more difficult.

Sources claim that with Napier’s solution, the firm will be able to roll out bulk screening in the Group and deploy IQ-EQ’s remarkable AI capabilities to mitigate the false positives.

Sally also mentioned that this would complement the firm’s operational efficiencies in its compliance efforts and assist in serving the clients more efficiently for ensuring no breach of sanctions.

Cian Harrington, Global Head of Client Transformation at Napier, added that the team is delighted to support IQ-EQ and its commitment to overcoming financial crime.

Cian further mentioned that the firm’s next-gen multi-organizational solution would help it solve complex challenges and is looking forward to strengthening its partnership with Napier with this deployment.

For the record, Napier’s solution leverages natural language processing and innovative fuzzy matching algorithms to lower false positives, which helps organizations to save time and work on real alerts.

Source credit - https://www.businesswire.com/news/home/20221101006167/en/IQ-EQ-Employs-Leading-AI-Compliance-Capabilities-With-Napier

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More >>

More News By Nikita Chaurasia

Swiftly achieves Unicorn status with $100M Series C led by BRV Capital

Swiftly achieves Unicorn status with $100M Series C led by BRV Capital

By Nikita Chaurasia

Swiftly Systems has reportedly achieved unicorn status, securing in funding through a Series C round. The prominent BRV Capital Management led this funding initiative. According to the earlier reports, Swiftly was adopted by hundreds of consumer b...

Rainforest nations unify to demand cash for climate & biodiversity preservation

Rainforest nations unify to demand cash for climate & biodiversity preservation

By Nikita Chaurasia

As per the reports, twelve nations with rainforests united to establish a collective initiative aiming to address climate change and safeguard biodiversity at summit held in Brazil. The declaration, titled "United for Our Forests," emerged ...

AI Chatbot, Llama 2, unveiled by Meta for commercial use via Microsoft

AI Chatbot, Llama 2, unveiled by Meta for commercial use via Microsoft

By Nikita Chaurasia

Meta Platforms has recently introduced Llama 2, an artificial intelligence large language model, for commercial use in collaboration with major cloud providers like Microsoft. Instead of charging for access or usage, Meta aims to share the model with...

Moderna signs agreement to explore mRNA medicines in China

Moderna signs agreement to explore mRNA medicines in China

By Nikita Chaurasia

Moderna Inc, a leading vaccine manufacturer, reportedly announced on Wednesday that it has entered into a memorandum of understanding (MoU) and a land collaboration agreement aimed at exploring opportunities for researching, developing, and producing...

Nike and Epic Games collaborate to launch Airphoria NFT in Fortnite

Nike and Epic Games collaborate to launch Airphoria NFT in Fortnite

By Nikita Chaurasia

The American footwear design & manufacturing company, Nike and Epic Games, the creators of the popular online game Fortnite, have joined forces in an exciting new collaboration. The partnership aims to bring about a groundbreaking change in the d...