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SmartSearch’s AML and digital compliance platform, trusted by over 2,000 financial services firms, can meet ever-changing regulations by the Financial Action Task Force. Onboard customers quickly and securely with the latest biometric and OCR technology and perform KYC & KYB checks in seconds. Benefit from the highest match and pass rate on the market (97%), and an under 1% manual review rate.
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 checks, PEP screening and ongoing monitoring in one accessible place, making AML in financial services simple and reliable.
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.
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
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.
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
In a constantly changing anti-money laundering compliance landscape it is fantastic to have SmartSearch’s expertise on hand.
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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.
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.
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).
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.
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.
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.
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:
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.
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.
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.
