Financial crime compliance RegTech Napier AI has secured an investment of £45m from US-based, credit-focused institutional alternative asset manager Crestline Investors.

The investment is expected to help the London-based Napier AI drive its continued growth in artificial intelligence (AI)-driven financial crime compliance.

Founded in 2015, Napier AI provides AI-enhanced software for financial crime and regulatory technology compliance, offering anti-money laundering (AML) solutions tailored to the banking, payments, wealth, and asset management sectors.

Customers use the firm’s solutions to screen, monitor, and detect any criminal or suspicious activities. This is complemented by regulatory reporting capabilities.

According to Napier AI, the offerings will enable customers to mitigate greater financial, reputational, and regulatory risks, while reducing significant operational overheads.

Napier AI CEO Greg Watson said: “We are pleased to deliver strong, continuous growth in a challenging market.

“Financial crime compliance operations and regulatory pressure continue to be large overheads for financial institutions, so there is a need to invest in NextGen AI-enhanced solutions with the benefit of trusted technology and delivery.”

Napier AI aims to further advance its business growth in the coming years with the new investment.

Crestline Investors’ funding will also enable Napier AI to continue developing and catering to financial organisations with next generation screening and monitoring solutions, driven by explainable AI.

Crestline Investors managing director Will Palmer said: “We are excited to work with the Napier AI team and believe their market-leading, AI-powered technology platform is well-positioned to help financial institutions and other regulated companies excel in an environment with rapidly expanding transaction volumes and increasing regulatory requirements.”

Last month, Napier announced that its Napier Continuum platform was selected as the AML solution by Satchel, a European Banking as a Service (BaaS) digital banking provider.