finance aml compliance

AML in Finance: Compliance for Financial Organisations

AML in finance doesn’t have to be complicated. Our all encompassing Anti Money Laundering solution constantly evolves to meet the ever-changing regulations set out by the Financial Action Task Force (FATF), so there’ll never be gaps in your compliance.

Helping finance firms get compliant in KYC & AML

Firms in financial services provide a wide range of products to their clients, so they’re left vulnerable to money laundering in a multitude of different ways – this often makes AML compliance measures complex to implement.

SmartSearch offers an award-winning platform, with an electronic customer verification system that can gather quick and accurate results. We’ve put sanction checksPEP screening and ongoing monitoring in one accessible place, making AML in financial services simple and reliable.

Our AML finance solutions

Verify your customer

Identifying and verifying customers and taking all the steps you need to remain compliant takes just seconds with our platform. Use our platform to complete your kyc aml checks within your financial institution.

Customer onboarding

Streamline customer onboarding and enhance your client experience with our award-winning platform that negates time-consuming traditional verification methods and minimizes cost and resource for your business.

Do your due diligence

Automate the bulk of your enhanced due diligence using our unique system to automatically discount any false positives, ensuring you remain compliant with minimal effort. A game-changing feature for AML in finance.

Monitor your clients

Powered by Dow Jones, our ongoing monitoring feature reviews PEP and Sanction watchlists globally, alerting you to any status changes and keeping you compliant at all times.

Prevent Fraud

We offer a wide range of anti-fraud products and services that can be tailored to your firm’s specific requirements.

Be audit ready

Get prepared for audits by using our batch upload feature, ongoing monitoring and automated audit notes, you can be confident that your processes are watertight, and your business will always be audit-ready.

SmartSearch saves time and money 

Manually performing the different checks required for finance AML compliance is a time-consuming process that’s liable to human error. Our unique software carries out automated digital checks in minutes using the Dow Jones WatchList, ****which combines reliable data from sources all over the world.

We simplify the KYC process for AML in finance, verifying your clients in both the UK and overseas, so you can get on with what you do best. Get a personalised quote for your financial institution today, and find out how much you could save.


What kind of financial organisations do we work with?

Building (Retail/Commercial)
Building Societies
Asset Finance
Invoice Discounting
Private Equity
Pre-paid Cards
Foreign Exchange
Debt Funding

40% of the top 100 IFAs use our services

{{ image_alt:bce-2x.png }}
The service is robust – we have experienced little or no downtime and communication from SmartSearch is excellent with updates, credit alerts and monthly reports detailing usage. Rita Hens Customer Services Manager
Read case study
{{ image_alt:coop-2x.png }}
In a constantly changing anti-money laundering compliance landscape it is fantastic to have SmartSearch’s expertise on hand. Linda Barlow Co-operative Governance Advisor
Read case study

You’re in good company

See it in action

Let one of our highly-trained sales team demonstrate the multi-award winning SmartSearch AML product

Get a free demo

What is AML in finance and why is it important to this sector?

Taking an active approach to AML in finance is crucial for preventing your business from being used by money launderers. 

What is AML in finance and what does it involve? 

Money laundering is thought to be posing an increasing threat to the national security, national prosperity, and international reputation of the UK. This, in turn, underlines the importance of banks and financial institutions putting in place effective, efficient, and durable AML KYC arrangements. 

To this end, extensive anti-money laundering regulations have been put in place, with which providers of financial services in the UK must comply.

Discover how you can produce a detailed and effective AML report in just minutes

Today, financial institutions are able to save both time and money, while still achieving reliable regulatory compliance for AML. SmartSearch enables you to quickly carry out thorough AML checks and generate informative and accurate reports.

Check an entire company structure within a few clicks

Comprehensive AML business checks can be performed, drawing upon the best international data, and much more rapidly than if you were to depend on manual processes. We offer an easy-to-use interface as part of our all-encompassing compliance solution for anti money laundering (AML) and know your customer (KYC).

Access global data within minutes

Make the most of the information available through our global data partners, to help ensure nothing has been left untouched in your efforts to minimise money-laundering fraud risk. 

For a wealth of efficient functionality and greater access to vital data than the alternatives, choose SmartSearch. With our help, you can check individuals and businesses across more than 200 countries. 

Remove the costs and time associated with manual compliance checks

In order for your financial institution to be competitive in its field while still attaining regulatory compliance time and time again, it must develop quicker and more cost-effective methods for carrying out essential AML and KYC process steps. Or you could simply turn to our automated platform, which can undertake full checks in seconds.

Powerful facial recognition technology ensures accurate document identification

The verification of crucial documents is made easier by SmartSearch’s use of the latest OCR and biometric facial recognition techniques. It’s all possible with a photo ID and a Selfie Liveness Video (SLV), with the outcome being a true picture of your customer, and the confidence of knowing any given document and image is genuine. 

SmartSearch helps ensure that AML for finance firms is compliant with UK law

There are a number of steps that a UK financial services provider should take to ensure compliance with the Money Laundering Regulations 2017 and 2019. These include, but are not necessarily limited to:

Ensuring the firm has written policies, controls, and procedures to mitigate the AML fraud risk
Making sure those policies, controls, and procedures cover risk management practices, internal controls, customer due diligence, reliance and record keeping, and the monitoring and management of compliance
Communicating the policies, controls, and procedures to staff
Providing up-to-date staff training on the organisation’s policies and procedures, and how to report suspicious activity
Keeping AML records for at least five years after a business relationship with a client ends
Ensuring the firm is registered with the Information Commissioner’s Office under the Data Protection legislation
Carrying out a risk assessment on itself in relation to money laundering or terrorist financing risks
Putting procedures in place to check a client’s identity and business activities, in order to mitigate the risk of money laundering activity
Carrying out enhanced due diligence on higher-risk customers
Ensuring the firm has reviewed and updated its AML policies, procedures, and controls in the last 12 months.

With the help of SmartSearch, you can not only truly know your customer in your position as a financial services provider, but also undertake the vital KYC AML checks quickly, securely, and accurately. 

We offer a complete single platform for achieving AML compliance, with multiple features for all aspects of due diligence and KYC including watchlist screening, transaction monitoring and detailed case management.

Become AML compliant or face the consequences

The scale of AML fraud risk is growing, underlining the importance of embracing the right KYC services and tools.

It’s important to take the government’s requirements for AML regulation seriously, as the UK remains a global hotspot for money laundering. Money laundering poses a serious risk to the UK’s national security and breaches in AML finance compliance can therefore be met with high fines.

Simplify your financial firm’s AML procedures with our award-winning platform

Your financial services organisation is just a few steps away from modernising and automating its AML and KYC process with the help of our highly advanced all-in-one electronic compliance solution. 

Get in touch now with SmartSearch to request a free demo, and to get set up with your dedicated account manager.