Napier has announced it has been selected as the anti-money laundering (AML) platform for noqodi, in the United Arab Emirates (UAE). Napier is providing its Transaction Monitoring, Client Screening, Client Risk Assessment and Client Activity Review solutions to noqodi, in order to further strengthen its commitment to supporting the government’s initiative to a secure, cashless, digital economy.

Napier’s solutions will equip noqodi with a sandbox environment to finetune and optimise screening configurations and real-time graphical analysis of customer behaviour to analyse anomalies. It will also provide API-enabled, real-time and batch screening, supporting transliteration of 22 languages, AI fuzzy matching and secondary scoring capabilities, as well as configurable dashboards with no-code rule building and AI insights for efficient decision-making.

Noqodi’s solution supports UAE’s digital payment growth

The Middle East region is going into a tremendous period of digital payment adoption, with a 44% increase in digital payment volumes from small and medium enterprises (SMEs) in UAE alone in 2022. Supporting this is noqodi’s digital payment solution, which provides an automated payments platform to send and receive money, integrated with partner merchants, banks and various government services for seamless transfers, now bolstered by NextGen monitoring and screening from Napier.

Zahi Kallab, General Manager of noqodi highlighted: “This partnership with Napier marks a significant milestone for noqodi in our journey towards revolutionising digital payments in the UAE. Our commitment to innovation, security, and compliance aligns seamlessly with Napier’s advanced solutions. Together, we aim to elevate the standards of financial crime prevention and contribute to the continuous growth and security of the digital economy in the region. This collaboration reinforces our dedication to providing a cutting-edge, secure, and compliant payments platform for our users, reflecting our strategic vision for the future of digital transactions in the UAE.”

Syed Zain Khalid, Risk and Compliance Manager at noqodi said: “Partnering with Napier has given us the autonomy to configure and scale our payments platform securely in this exciting period of growth for the company. We look forward to the positive impact this partnership will have on strengthening our risk management framework, streamlining our compliance processes, and setting new benchmarks for industry best practices.”

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By GlobalData