Investor services group IQ-EQ taps Napier AI’s screening capabilities

Sally Alayarian, Group Chief Risk Officer at IQ-EQ

Napier, provider of anti-financial crime compliance solutions, announced that investor services group IQ-EQ is upgrading its screening capabilities to Napier’s AI-enhanced Client Screening.

What does Napier’s solution bring to IQ-EQ’s systems?

Napier’s Client Screening solution will enhance IQ-EQ’s existing systems by screening clients at relevant intervals against sanctions, Politically Exposed Persons (PEP) lists, and other key watchlists. The AI will also help IQ-EQ to reduce false positives and enable faster screening.

IQ-EQ provides a range of compliance administration, asset, and advisory services to a global client base that includes 11 of the world’s top 15 private equity firms. Their portfolio also holds assets under administration exceeding US$750 billion and across 24 jurisdictions.

Napier’s solution uses natural language processing and advanced fuzzy matching algorithms to reduce false positives helping organisations save time. Napier’s highly configurable financial crime compliance platform is relied upon by various participants, including banks, payment providers, asset managers, FX specialists, insurance firms, and other regulated institutions.

What were the executives’ thoughts on the partnership?

Cian Harrington, Global Head of Client Transformation at Napier said: “We are proud to support IQ-EQ’s commitment to combatting financial crime. Our latest generation multi-organisational solution helps solve for complex challenges like those faced by the financial services, and we look forward to reinforcing our partnership with the implementation.”

Commenting on the partnership with Napier, Sally Alayarian, Group Chief Risk Officer at IQ-EQ, said: “At IQ-EQ we help global investors focus on investing and preserving capital in a sustainable and compliant manner. With several brands under our umbrella and across global markets, we often find data silos which make our screening processes more challenging.”

“With Napier’s solution, we will gain a significant edge as we can roll out bulk screening across the Group and leverage the solution’s impressive AI capabilities to reduce false positives. This will contribute greatly to our operational efficiencies in our compliance efforts, and help us serve our client base more efficiently, while ensuring we are not in breach of sanctions.”