Noqodi partners with Napier to secure digital payments in the UAE

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Noqodi partners with Napier to secure digital payments in the UAE
Noqodi partners with Napier to secure digital payments in the UAE

Safeguarding payments in the high-risk UAE financial landscape

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.

London, December 13, 2023: Napier, the London-based financial crime compliance RegTech, is pleased to announce it has been selected as the anti-money laundering (AML) platform for noqodi, the leading digital wallet and payments solution based 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 create a secure, cashless, digital economy.

Napier’s solutions will equip noqodi with:

A sandbox environment to fine-tune and optimize screening configurations;

API-enabled real-time and batch screening, supporting transliteration of 22 languages, AI fuzzy matching, and secondary scoring capabilities;

Real-time graphical analysis of customer behavior to analyze anomalies;

Configurable dashboards with no-code rule building and AI insights for efficient decision-making.

The Middle East region is going into a tremendous period of digital payment adoption, with a 44 percent increase in digital payment volumes from small and medium enterprises (SMEs) in the UAE alone in 2022. Supporting this is noqodi’s digital payment solution, which provides a unified and fully 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.

noqodi is looking to stay ahead of the curve in financial crime prevention to remain compliant with the standards of the UAE’s central bank.

Building on the announcement of the partnership between Napier and noqodi to fortify digital payments in the UAE, Zahi Kallab, General Manager of noqodi highlighted:

“This partnership with Napier marks a significant milestone for noqodi in our journey towards revolutionizing 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 reiterated:

“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.”

Greg Watson, Chief Executive Officer at Napier, stated:
“noqodi is changing the face of digital payments for the UAE. We’re proud to deliver our real-time NextGen compliance solutions to support this and set a new standard of compliance excellence in the UAE’s financial landscape.”

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