Lambert Smith Hampton, a property consultancy, has partnered with RegTech Know Your Customer to accelerate and expand the company’s RegTech offering.
According to Know Your Customer, the partnership will help LSH undergo a digital transformation of its client due diligence and anti-money laundering operations.
Know Your Customer’s cloud-based compliance solution will enable LSH to fully centralise, streamline, and digitise the required due diligence procedures on all their customers and counterparties involved in its real estate transactions, while delivering a fully digital user experience to customers.
LSH is one of the top real estate consultancies in the UK and Ireland. The company provides owners, investors and occupiers with a suite of integrated services including sourcing, planning, funding, advising, managing, valuing and selling properties, across both the public and private sectors.
Know Your Customer said, “By leveraging Know Your Customer’s unmatched coverage of real-time company registry connections and AI-based Ultimate Beneficial Ownership (UBO) engine, LSH can accelerate the identification of companies’ beneficial owners across borders and base their compliance procedures exclusively on official corporate data sourced in real-time. The result is a fully digitised and streamlined client due diligence process which provides additional clarity on buyers’ and sellers’ shareholding structures, as increasingly required by anti-money laundering regulations.
Know Your Customer CEO and co-founder Claus Christensen added, “For the past number of years, we have witnessed a gradual expansion of anti-money laundering regulations to be applied to additional sectors beyond banking, and in particular to real estate. This is a necessary evolution, and I strongly believe that only by embracing RegTech innovation the real estate industry will be able to efficiently and quickly adapt its operations to the new requirements.
“Through this partnership, Lambert Smith Hampton has demonstrated it is ahead of the curve as a RegTech early adopter and we are delighted to be their partner of choice for the full digitisation of their client due diligence and UBO identification processes.”
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Copyright © 2018 RegTech Analyst