Trustly taps Napier to help with compliance

From: RegTech Analyst

Swedish FinTech Trustly is experiencing a growth spurt, having recently picked up a cash injection from BlackRock and expanding to Australia and Canada. It has now tapped Napier to ensure it can maintain the growth in a compliant way.

Napier is a London-based intelligent compliance technology and, through the deal, it will leverage its machine learning-powered platform to enhance and automate transaction monitoring for Trustly.

“Trustly is processing transactions at an increasingly rapid pace every day,” said Vadim Yurchenko, head of AML and merchant risk at Trustly. “We needed a compliance partner that could deliver a service that was robust and secure enough to keep up, even across borders. Napier’s solution really stood out as one that we could rely upon, leveraging the power of AI in automating our monitoring systems, and ultimately helping us to stay at the very cutting edge of online banking payments.”

Julian Dixon, CEO at Napier, added, “This is a mission critical solution for Trustly as a global payments provider with extreme growth. It requires a future-proof platform that not only delivers its requirements for today, but also has a roadmap aligned with its vision to deliver its needs for tomorrow.”

Trustly provides online banking payment services for e-commerce, financial services, gaming, media, telecom and travel companies. The company says that it enable users  to bypass card transactions and pay merchants directly from their bank account in a safe and secure way.

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