Alpian Will Use AI to Sniff Out Financial Crime

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.