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News and resources on financial crime, including fraud, scams, Anti Money Laundering and Know Your Customer.

Blockchain technology enterprise OwlTing bolsters AML defenses with Napier

Source: Napier

Napier, provider of leading anti-financial crime compliance solutions, announced that OwlTing Group, a blockchain technology enterprise, is the latest to leverage Napier’s AI-enhanced technology solutions to develop an effective financial crime compliance system, which improves its anti-money laundering (AML) and counter-terrorist financing (CTF) defenses and meets relevant regulatory requirements.

Founded in 2010, OwlTing Group is based in Taiwan with branch offices around the globe. In 2021, OwlTing Group released Owlpay, a one-stop integration payment service for global enterprises. OwlPay aims to modernize B2B cross-border transactions by building a global blockchain and stablecoin network, offering real-time settlements and clearance for lower fees with visibility and control, improving operational efficiency, and creating a whole new FinTech experience in businesses.

Napier’s Client Screening, Transaction Monitoring and Transaction Screening solutions will work together to provide OwlTing with a scalable and configurable compliance platform that delivers comprehensive oversight into customer activities, quickly and accurately assesses risk, and efficiently screens customers against global sanctions and watchlists.

Jackal Ting, Chief Compliance Officer at OwlTing commented: “In order to expand our business globally, we are fully aware of how important AML defenses are in a well-integrated payment solution, hence we are dedicated to providing a robust solution that meets regulatory requirements in all the markets we serve. Napier provides a powerful, simple to use and cost-effective platform that will grow with us.”

Robin Lee, Head of APAC at Napier said: “OwlTing is a dynamic company that is taking advantage of ground-breaking technologies like blockchain, so I am glad they have turned to Napier to address their AML requirements which is critical in the functioning of their business lines. With increasing regulatory action, companies like OwlTing need an agile compliance solution that will not only scale as they grow but also help them keep up with any changes and progress in the regulatory landscape.”

Headquartered in London, Napier has a growing list of clients globally, including tier one banks, payment providers, asset managers, FX specialists, crypto, and more. Highly commended in the Regulation Asia Awards for Excellence in 2021, Napier works with regulated and financial organizations to provide AI-enhanced AML compliance capabilities.

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