SmartSearch, the UK’s leading provider of AML and digital compliance software, has entered into a strategic partnership with LSEG Risk Intelligence.
This collaboration marks a significant step forward in enhancing AML and digital compliance solutions worldwide.
The partnership has been forged with the aim of bolstering SmartSearch’s digital compliance solutions, particularly in the realm of instant international individual verification. Leveraging LSEG’s vast global data repository, SmartSearch can now ensure more robust identity verification processes across over 40 countries, thus significantly enhancing the fight against financial crime on a global scale.
SmartSearch is recognized for its innovative platform that streamlines AML and digital compliance through electronic verification, sanction screening, and real-time monitoring, facilitating rapid and comprehensive customer checks. LSEG Risk Intelligence, on the other hand, brings to the table its expansive data sourced from governments, credit companies, and utility providers among others, offering unparalleled identity match rates and insights.
This partnership represents a pivotal development for SmartSearch as it seeks to expand its services and client base, which already includes significant numbers of financial services, property firms, law firms, and accountancy firms within the UK. The integration with LSEG’s data enhances SmartSearch’s capabilities to address the challenges of verifying international individuals, who are often perceived as high-risk due to traditionally weak verification processes.
LSEG’s commitment to providing high-quality, comprehensive global data, and SmartSearch’s dedication to innovation in AML and compliance solutions, underscore the synergistic nature of this partnership. This collaboration is set to redefine the standards of digital compliance and identity verification, ensuring a safer and more secure global financial landscape.
Fraser Mitchell, technical director at SmartSearch, highlighted the significance of this partnership: “Individuals who reside internationally are often perceived as higher risk, and yet regularly have the weakest level of verification.
“We have partnered with LSEG because they provide the highest quality of local global data, sourced from their extensive data provider network, delivering fully comprehensive data coverage worldwide. They have industry-leading individual identity match rates and an unmatched, in-depth understanding of the data from a local perspective. This is an exciting development for us and our clients – our horizons are widening as our business expands.”
Copyright © 2024 RegTech Analyst
Copyright © 2018 RegTech Analyst
