Ascendant Partners provide a full range of accountancy, management accounting, tax and consulting services. They work with owner managed SME businesses, individuals, groups and UK subsidiaries of overseas parent companies.
The Brief
Ascendant Partners, an accountancy firm regulated by the ICAEW, recognised the critical need to source an AML and digital compliance provider who could supply a comprehensive and fully compliant AML solution at a reasonable cost. Before adopting SmartSearch, Ascendant Partners faced the following challenges:
- Time consuming manual processes; often involving labour intensive steps and averaging 3-4 hours per week meeting their AML obligations.
- Slow and inefficient workflows; the lack of automation in their AML procedures made compliance tasks and client onboarding tedious and time consuming.
The Solution
SmartSearch were able to provide a full suite of services that could be precisely tailored to Ascendant Partners needs. The comprehensive and compliant platform addressed all of their needs and regulatory requirements, and provided the tools to allow Ascendant Partners to streamline their onboarding and improve internal processes. Ascendant Partners have utilised UK Individual Checks and SmartDoc, both with integrated PEP/Sanction checks. All of which include ongoing monitoring which has been invaluable in providing Ascendant with peace of mind that they are fully compliant with ICAEW regulations.
The Results
After implementing SmartSearch, Ascendant Partners saw a dramatic transformation in their AML compliance processes:
Time Savings & Efficiency Gains:
By automating AML processes, Ascendant Partners reduced their internal compliance workload significantly, freeing their team to focus on other tasks.
Enhanced Compliance:
The platform’s robust and comprehensive tools improved Ascendant’s compliance procedures, offering peace of mind that they are meeting their regulatory obligations. Meeting obligations in an effective, comprehensive and transparent way.
Streamlined Processes:
The automation provided by the SmartSearch platform reduced Ascendant’s manual workloads, improved internal processes, and enhanced user experience,
ultimately increasing compliance oversight.
Improved Client Care:
The SmartSearch team, and in particular our dedicated Customer Success Manager provided exceptional services and ensured a seamless transition to SmartSearch. Minimising any disruption to both Ascendant Partner’s team and their clients during the onboarding journey.
Scalable and Reliable AML:
Ascendant’s onboarding processes became faster and more efficient, allowing growth without sacrificing compliance standards.
SmartSearch has transformed Ascendant Partner’s AML and compliance processes, saving them time, enhancing internal procedures, and ensuring peace of mind. The outstanding client care provided by the SmartSearch team underpins SmartSearch’s commitment to providing an excellent service to all clients.
With SmartSearch, Ascendant Partners is able to confidently meet their regulatory obligations.
