Following a period of explosive growth, Utmost Group, a leading provider of insurance and savings solutions, has upgraded its financial compliance capabilities in association with Napier, the leader in configurable anti-financial crime compliance.

Napier’s client screening solution, which went live in just 21 days, has been introduced both to bolster the company’s current compliance strategy and build in the ability to scale further in future.  The Napier team met these extraordinarily tight timescales in deploying the solution to meet the deadline imposed by the expiration of licences by the outgoing partner.

Chief Risk Officer at Utmost International Isle of Man, Paul Smith said: “We needed to rapidly migrate and then implement our existing screening protocols to the new system, so we were delighted that Napier was able to merge two legacy systems neatly into a single hosted instance while levelling up our capabilities. This really made the difference when managing the upgrade of systems that were being made end-of-life earlier than expected.”

He continued: “Compliance requirements inevitably evolve over time as risks also change and criminals become more sophisticated, so we are delighted to have a robust system now in place that will keep us one step ahead of our obligations and enhance our overall services.”

Napier’s Client Screening solution will bolster existing systems by automatically screening clients at relevant intervals against sanctions, Politically Exposed Persons (PEP) lists, and other key watchlists. The AI capabilities will enable faster screening and help the group to reduce volumes of false alerts.

Chief Revenue Officer at Napier, Kevin O’Neill said: “We are excited to work with Utmost Group and are looking forward to providing them with best-of-breed client screening and hosting services. We are confident that with our AI powered technologies Utmost Group will be better equipped to provide safe and secure insurance and savings solutions, while adhering to the highest industry standards.”

With assets under administration of approx. £58bn and 550,000 customers (as of 30 June 2022), Utmost Group is headquartered in London and operates in markets across UK, Europe, Latin America, Asia and Middle East.

Napier is trusted by financial institutions, including tier-one banks, asset managers, insurance firms, and other regulated organisations globally, to provide advanced financial crime compliance technology that achieves a continuous and holistic view of risk.