Trustly, the global leader in Online Banking Payments, has appointed London-based intelligent compliance technology provider Napier to enhance and automate transaction monitoring following a period of rapid growth.
Trustly, which provides Online Banking Payments for e-commerce, financial services, gaming, media, telecom and travel, operates across a global payments network. Through Trustly, customers are able to bypass card transactions and pay merchants directly from their bank account in a safe and secure way. The company has grown considerably over the past twelve months, including expansion into Australia and Canada.
Following a significant increase in the number of transactions it was processing, Trustly wanted to enhance and automate monitoring and regulatory compliance. While it had robust processes in place, they were largely manual and took a significant amount of time to manage.
After a competitive selection process, Napier was appointed to provide mission critical, cloud-based transaction monitoring and next-generation anti-money laundering (AML) solutions.
Napier will provide Trustly with transaction monitoring capabilities that are underpinned by machine learning. This will enable the company to build and define rules, simulate test scenarios, and manage cases and workflows through a single self-auditing platform.
Vadim Yurchenko, Head of AML, and Merchant Risk at Trustly, added:
“Trustly is processing transactions at an increasingly rapid pace every day. 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, Napier CEO said:
“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 of tomorrow.”