NorthRow, a risk mitigation platform, has launched a new international company monitoring functionality.
To support the new service, the company has increased its international data coverage and the types of events it can track and monitor. The feature has been launched to help companies keep on top of AML regulations, ensuring there are continual checks to monitor any changes in the company structure at any time in any of its jurisdictions.
International coverage now supports: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Liechtenstein, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland, UK, and the USA.
Events, developments and officer changes that can be monitored are: director change, change to credit limits, change to total issued capital, change to ultimate holding, legal events, beneficial owner change, credit score, company name change, head office activity, address change, no. of employees, negative data, and branch/establishment activity.
For UK-based companies, the platform also offers more detailed information on the director and beneficial ownership change events.
The international risk monitoring capabilities ensure clients are informed of all activities that could breach their supply chain, and can react quickly to ensure AML compliance.
NorthRow simplifies onboarding through a combination of automated and managed Identity Verification and Know Your Customer services via a single API. Its solution also meets meet Anti Money Laundering and other compliance requirements, including MiFID II client suitability and appropriateness checks.
The company combines mobile identity verification capabilities using facial recognition and voice recognition AI with data from an international range of commercial, open source and law enforcement sources to deliver risk scores and enriched data on corporate entities, individuals and ID documents.
Earlier in the month, the FCA expanded its regulatory sandbox to include a number of RegTechs to its fourth cohort. NorthRow was among the new selection of companies to join the sandbox to test solutions.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
