UK AML specialist SmartSearch launches in US

Source: IBS Intelligence 2020-07-15

UK anti-money-laundering (AML) firm SmartSearch is launching operations in the USA. Expansion into the US market follows a period of growth in the UK. SmartSearch’s ‘one-stop’ Know Your Customer (KYC) and AML platform enables clients to perform full electronic ID verification and screening in 2 seconds, and provides ongoing monitoring to alert users to any change in a client’s status.

SmartSearch enables firms to automate their customer onboarding process. The full suite of AML checks can be performed remotely, with no need for face-to-face contact or physical documents to be exchanged. There is also a fully-integrated SmartSearch app to allow checks to be performed ‘on the go’. With the Covid-19 pandemic still a significant factor in many US states, this provides a significant competitive advantage for online AML checks. The platform has also recently incorporated biometric facial recognition for additional security, and there are plans for further enhancements.

SmartSearch expects that its solution will prove popular with US clients, chief executive John Dobson said: “We have developed a bespoke product for the American market so that US firms using SmartSearch have the same absolute confidence as those in the UK, that their AML checks are up-to-date and fully compliant with relevant legislation at all times.

“Our combination of cutting-edge technology and friendly, efficient customer service means SmartSearch is already one of the UK’s leading RegTech firms. Our client retention rate of 98% is testament to the high level of service we consistently deliver.”

SmartSearch

UK AML specialist SmartSearch launches in US

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