AML specialist SmartSearch breaks into US market

14 July 2020

Leading UK anti-money-laundering (AML) firm SmartSearch is today launching operations in the USA.

Expansion into the US market follows a period of sustained growth that has seen the firm frequently named among the UK’s fastest-growing companies, and a leader in the increasingly important ‘RegTech’ sector.

SmartSearch’s unique ‘one-stop’ Know Your Customer (KYC) and AML platform enables clients to perform full electronic ID verification and screening in just two seconds, and provides ongoing monitoring to alert users to any change in a client’s status.

Simple to use and manage, SmartSearch enables firms to streamline and automate their customer onboarding process, leaving them free to run their businesses. The full suite of AML checks can be performed remotely, with no need for face-to-face contact or physical documents to be exchanged. There is also a fully-integrated SmartSearch app to allow checks to be performed ‘on the go’. With the Covid-19 pandemic still a significant factor in many US states, this provides a significant competitive advantage for SmartSearch compared to manual document checks.

The platform has also recently incorporated biometric facial recognition for additional security, and there are well-advanced plans for further enhancements.

With experts and global watchdogs warning that there is an increased risk of money-laundering in the current crisis, firms need to be especially vigilant. SmartSearch provides a safe and cost-effective solution to meeting all regulatory requirements and protecting businesses from fraudulent activity.

SmartSearch expects that its solution will prove popular with US clients, as chief executive John Dobson explains: “We have developed a bespoke product for the American market so that US firms using SmartSearch have the same absolute confidence as those in the UK, that their AML checks are up-to-date and fully compliant with relevant legislation at all times.

“Our combination of cutting-edge technology and friendly, efficient customer service means SmartSearch is already one of the UK’s leading RegTech firms. Our client retention rate of 98% is testament to the high level of service we consistently deliver.

“We want to bring those assets to bear in the US market, while continuing to deliver day in, day out for our UK clients.”

US firms can access the service at www.smartsearch/com/us