Napier, which specializes in the development of technologies to combat crimes in the financial sector, announced the establishment of a partnership with Lyra Group, a European provider of unified payment solutions.
Lyra’s annual turnover is 79 million euros. Within one year, the company processes on average more than 20 billion financial operations worldwide.
As part of the implementation of the cooperation agreement, Napier will provide Lyra with advanced transaction monitoring and hosting. Also, a specialist in combating crime in the financial sector will provide his new partner with the opportunity to further expand the scale of doing business at the international level.
Lyra, which is based in France, was accredited by the local regulatory body ACPR in 2017. As part of the Lyra Collect offer, the company provides POS services, and mobile and e-commerce solutions throughout Europe, including international means of payment and various payment methods.
Napier’s new transaction monitoring solution will help Lyra improve its compliance system. Initially, the existing rules for checking financial transactions will be used. Later, companies will formulate new rules based on specific typologies that will be adapted to the Lyra risk profile.
Rebecca Masset, Vice Director of Lyra Collect, stated that compliance with the requirements is one of the conceptual foundations of the company’s business policy. She also stated that the firm is ready to guarantee the security of all transactions carried out through its platform. Rebecca Masset noted that the introduction of Napier technology based on artificial intelligence will increase the level of efficiency of the company’s regulatory infrastructure.
The Napier Continuum financial crime risk management platform minimizes the likelihood of illegal interference and combines a full set of big data processing technologies with artificial intelligence.
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