Lesley, Stephen & Co. is a specialist mortgage broker in the UK that focuses on providing second charge mortgages to homeowners. Unlike many traditional lenders who primarily assess lending decisions based on the equity in a customer's property, Lesley, Stephen & Co. adopts a different approach. This alternative method allows them to assist clients who may not meet the criteria of other lenders, offering tailored solutions to those in need of second charge mortgages.
Lesley, Stephen & Co. was searching for an effective online AML solution from a recognised provider to tackle the various AML and compliance requirements they were facing, all whilst being compliant with the Financial Conduct Authority (FCA) regulations.
They wanted an AML provider to cover all bases from AML/KYC to PEPs and Sanctions screening, utilising high-quality data from recognised sources and reducing the requirement for manual checking.
Prior to engaging with SmartSearch, Lesley, Stephen & Co’s AML processes were manual, time-consuming, and costly. They recognised the need for a more automated and streamlined approach to meet their AML obligations and were seeking assistance in increasing their efficiency, improving their onboarding processes and compliance oversight, and all from an industry standard provider such as SmartSearch.
SmartSearch delivered a customised, streamlined solution to address Lesley, Stephen & Co’s AML requirements. By leveraging the comprehensive services offered by SmartSearch, such as its award-winning UK Individual solution and PEP & Sanctions screening, they were able to streamline the AML check process and minimise the amount of manual input and documentation needed, in the knowledge that the search data that was being used by SmartSearch was robust and accurate. The standout feature was the UK Individual checks service, which simplified the process for both Lesley, Stephen & Co and it’s customers.
Implementing SmartSearch resulted in a significant reduction in the time spent on AML compliance obligations. This remarkable improvement in efficiency allowed Lesley, Stephen & Co to reallocate their valuable time and resources within their business. In addition to this, Lesley, Stephen & Co found they have increased their compliance oversight and improved their customer experience.
Lesley, Stephen & Co found SmartSearch’s onboarding process to be smooth and simple. They found the sales team and customer success team to be very friendly and professional. Since coming onboard the customer success team, and their account manager Nitika, have been on hand to swiftly assist with any queries they may have.
Since implementing SmartSearch, Lesley, Stephen & Co has experienced several notable improvements:
Faster Onboarding of Customers: The time to verify and onboard new clients has been significantly reduced.
Increased Compliance Oversight: Lesley, Stephen & Co now have more comprehensive oversight of its compliance processes, aiding compliance with FCA regulatory requirements and giving the firm complete peace of mind.
Reduced Manual Workload: Automation of routine AML checks has freed up staff to focus on higher-value tasks, improved internal efficiencies.
Improved User Experience: Both staff and clients have benefitted from the automated and user-friendly processes.
Enhanced Internal Processes: Lesley, Stephen & Co’s internal compliance processes have become more efficient and effective, reducing their time spent on AML obligations.
The reassurance provided by SmartSearch that Lesley, Stephen & Co is fully compliant with FCA AML/PEPS/Sanctions regulations has been invaluable. The platform’s comprehensive features and excellent customer support have made it a cost-effective and trustworthy solution, delivering significant value for money.