Alpian Will Use AI to Sniff Out Financial Crime
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Switzerland’s first digital private bank has found a partner for end-to-end risk management. The solution makes use of artificial intelligence.
Digital private bank Alpian plans to use intelligent compliance to monitor the risk profiles of all its clients and investigate potential financial crimes, partnering with global compliance solutions provider Napier to do so, the bank said Tuesday.
According to the statement, Napier Continuum brings together core anti-money laundering (AML) measures such as transaction monitoring, customer and transaction screening, advanced risk assessment tools, ongoing AI-powered reviews, and intuitive reporting capabilities.
By using the most advanced compliance technology, the often very strict regulatory requirements can be met and reliable service can be delivered to bank customers, Schuyler Weiss, Alpian CEO, and co-founder said.
Alpian combines everyday banking with personalized investment services via a mobile app for the mass affluent customer segment. Prior to its official launch in October 2022, Alpian had raised 19 million Swiss francs ($20.3 million) in its B+ funding round and recently announced a partnership with Visa.
Questions & Answers
Q.Which company is Alpian partnering with to implement its AI-powered risk management solution?
Which company is Alpian partnering with to implement its AI-powered risk management solution?
Alpian is partnering with Napier, a global compliance solutions provider. This collaboration will enable Alpian to use intelligent compliance for monitoring client risk profiles and investigating financial crimes.
Q.What specific anti-money laundering (AML) measures does the Napier Continuum solution include?
What specific anti-money laundering (AML) measures does the Napier Continuum solution include?
The Napier Continuum solution incorporates transaction monitoring, customer and transaction screening, advanced risk assessment tools, and ongoing AI-powered reviews. It also provides intuitive reporting capabilities to strengthen compliance efforts.
Q.What is Alpian's target customer segment for its banking and investment services?
What is Alpian's target customer segment for its banking and investment services?
Alpian primarily targets the mass affluent customer segment. It offers a combination of everyday banking services and personalised investment advice through a mobile application designed for this group.
Q.What was the amount of funding Alpian raised in its B+ funding round before its official launch?
What was the amount of funding Alpian raised in its B+ funding round before its official launch?
Before its official launch in October 2022, Alpian successfully raised 19 million Swiss francs in its B+ funding round. This funding equates to approximately $20.3 million at the time.
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