MV Shield, powered by Napier AI, has launched to give building societies and credit unions in the UK and Canada a modern anti-money laundering (AML) and financial crime compliance platform designed around the needs of the mutual sector.
The new offering has been created by Napier AI, which provides AI-powered financial crime compliance solutions, and Mutual Vision, a banking technology provider specialising in building societies and credit unions.
The companies said MV Shield has been built as a purpose-built alternative to generic AML systems, aiming to align controls, reporting and risk models to mutual-sector operations.
MV Shield is offered as Compliance as a Service (CaaS), combining Mutual Vision’s sector expertise with Napier AI’s financial crime compliance technology. The service is designed to help mutuals deploy screening and AML transaction monitoring workflows from day one, without in-house technical development.
A key part of the platform is its configuration for the “behaviours, risk patterns and operational realities” of building societies and credit unions.
MV Shield includes custom-built AI models intended to align to mutuals’ risk exposure, as well as more than 100 pre-configured typologies developed through Napier AI’s work with the Financial Conduct Authority (FCA).
Napier AI CEO Greg Watson said, “MV Shield makes compliance-first AI accessible to institutions that have traditionally been underserved by the technology market. Mutual Vision’s deep roots in the building society sector, combined with Napier AI’s proven platform and regulatory expertise, create a powerful proposition that strengthens operational resilience and reduces the burden of compliance.”
Mutual Vision CEO Tim Bowen added, “Our customers and other small and mid-sized firms need screening and AML technology that is modern, explainable, easy to implement and aligned to the regulatory challenges they face every day. By powering MV Shield with Napier AI, we’re giving these firms the opportunity to adopt a Tier one grade solution that is a simple and affordable way to raise their compliance maturity.
“This is also a solution that does not have the disruption or cost normally associated with major transformation projects. MV Shield is a sector-informed, preconfigured AML platform, not a generic tool, and it is designed around the unique processes and risk patterns of our customers.”
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