SmartSearch, a provider of digital compliance and AML solutions, has announced the launch of its International Individual Check solution.
This innovative service allows SmartSearch customers to perform identity verification checks for individuals residing in more than 40 countries, leveraging extensive data from over 200 global sources.
The new product aims to better protect businesses operating globally from financial crimes such as fraud and money laundering. Securely verifying customer identities is crucial for all regulated sectors to prevent fraudulent activity and ensure compliance with regulatory mandates, including AML, KYC, and KYB requirements.
Founded in 2011, SmartSearch has rapidly grown from a start-up to an international leader in AML and digital compliance. The company’s integrated platform combines individual and company due diligence solutions with world-class customer service, assisting over 7,000 firms and 60,000 users in identifying their customers within seconds.
The International Individual Check solution enables businesses to validate the identities of individuals residing internationally, a task often perceived as high risk due to limited access to local data. By partnering with the London Stock Exchange Group’s (LSEG) Risk Intelligence service, SmartSearch can cross-reference customer-provided information against LSEG’s extensive, high-quality database. This database includes data from local and regional governments, credit agencies, telecom providers, and utility companies, ensuring unparalleled accuracy.
In addition to enhancing the security and efficiency of identity verification, the new solution integrates seamlessly with SmartSearch’s existing suite of award-winning digital compliance solutions. This integration allows customers to centralise their AML, KYC, and KYB search and verification processes on one platform.
Further benefits are offered when combining the International Individual Check solution with other SmartSearch features, such as the SmartDoc service and Document Storage solution. This combination uses facial recognition technology, advanced authentication features, and biometric identity verification to provide a comprehensive understanding of international customers. Documents can be securely stored on SmartSearch’s platform, streamlining the document management process and ensuring the highest level of security through customised roles and permissions.
Fraser Mitchell, Technical Director of SmartSearch, said, “The process of verifying the identity of individuals who reside internationally has traditionally taken up a lot of time, money, and resources. We’re proud to be making this process easier for our customers with the launch of SmartSearch’s International Individual Check solution. The combination of our market-leading digital compliance technology with LSEG Risk Intelligence’s extensive, high-quality local data will help give companies in regulated industries peace of mind that they are protected against fraud and money laundering, and will remain compliant with the ever-evolving regulatory landscape they face.”
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