SmartSearch partners with LSEG Risk Intelligence

Tuesday 12 March 2024 11:51 CET | News

UK-based Anti-Money Laundering (AML) company SmartSearch has partnered with LSEG Risk Intelligence to further improve its AML and digital compliance solutions. 

As part of this collaboration, SmartSearch’s platform receives access to LSEG’s global data source of more than 40 countries, which supports the enhancement of its AML and digital compliance solutions, more specifically its ability to offer instant verification of international individuals.

UK-based Anti-Money Laundering (AML) company SmartSearch has partnered with LSEG Risk Intelligence to further improve its AML and digital compliance solutions.

SmartSearch – LSEG collaboration objectives

Through its data, LSEG is set to enable SmartSearch’s digital compliance technology to authenticate an individual’s identity, including name, address, DOB, and national ID, against its reference information from governments, credit companies, telecoms, and utility sources. Individuals who reside internationally are perceived as an increased risk, however, they regularly have the weakest level of verification. According to SmartSearch’s officials, the decision to partner with LSEG came due to the latter’s ability to offer improved quality of local-global data, sourced from an extensive network, and being able to deliver fully comprehensive data coverage worldwide. LSEG has expanded individual identity march rates and understanding of the data from a local perspective. Additionally, the partnership supports SmartSearch’s development strategy, while enhancing its operations and solutions.

Furthermore, SmartSearch’s digital compliance solution merges electronic verification (EV) with sanction screening, source of funds, and real-time monitoring to complete detailed customer checks almost instantly. This aims to allow regulated companies to comply with AML regulations, while also meeting Customer Due Diligence (CDD) and Know Your Customer (KYC) requirements. Currently, SmartSearch directly assists over 2,000 financial services firms, approximately 1,000 property firms, law firms, and accountancy companies.  The company’s AML verification platform conducts individual and business searches, both for UK and international markets with automatic sanction and PEP screening. Also, SmartSearch does not require clients to offer identity documents, with its automated verification approach improving the user and end customer experience.

More information about LSEG Risk Intelligence 

Being part of the London Stock Exchange Group, LSEG Risk Intelligence supports organisations in efficiently navigating risks with solutions that eliminate reputational damage, legal action, operational inefficiency, and regulatory non-compliance. Some of the company’s solutions include risk screening through World-Check, detailed integrity, and advanced background checks on any entity or individual through due diligence reports, identity verification, account verification, and customer onboarding solutions.

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Keywords: partnership, AML, money laundering, compliance, KYC, CDD
Categories: Fraud & Financial Crime
Companies: LSEG, SmartSearch
Countries: United Kingdom
This article is part of category

Fraud & Financial Crime




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