Singapore-based point-of-sale startup turns to Napier for AML checks

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SINGAPORE–(COMMERCIAL THREAD) – RegTech Company, Napier, a provider of advanced financial crime compliance solutions, announced that Qashier, an integrated point-of-sale and payment solutions start-up, is the latest to adopt its program Anti-Money Laundering (AML) Technology.

Having recently applied for the major payment institution license under the Singapore Payment Services Act (PSA), Qashier will use the tools of transaction monitoring, customer screening, risk-based scorecard and review of Napier customer activity to help identify suspicious activity as it occurs, and to comply with Monetary Authority of Singapore (MAS) Regulations.

Founded by Christopher Choo and Frank Zhao in February 2019, Qashier’s advanced platform powers small and medium-sized retail and restaurant businesses by combining a smart point of sale system, integrated payment acceptance and software solutions. advances that include table management, online ordering and customer loyalty.

Eric Peh, Head of Compliance at Qashier, said: “The Singapore government is aiming for a cashless economy by 2025, but many small businesses are still grappling with the cost and complexity of standard point of sale systems. . At Qashier we are seeing increased interest from a variety of companies in our technology and as we continue to grow it is crucial to have an AML offering that will evolve and grow with us, and allow us to play our role in preventing financial crime. . Napier’s solution not only meets this need, but the platform is also customized to our requirements, which we couldn’t find from other vendors.

Named Best AML / CTF Solution at the Regulation Asia Awards for Excellence last year, Napier works with financial organizations around the world to deliver a smart AI-enhanced compliance platform. Its presence in APAC was further strengthened earlier this year with the opening of a new base in Kuala Lumpur, adding to its offices in Singapore, London, North America, Australia and Dubai.

Robin Lee, APAC Manager at Napier, said: “As we move more and more towards a cashless society, we recognize that this also opens up new opportunities for criminals. It is imperative that financial service providers can leverage the best available technology to stay ahead of the threat with robust compliance systems. Using our AI-enhanced technology, organizations can make validated decisions with speed and accuracy, rapidly strengthening their AML defenses and compliance capabilities.


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