SmartSearch gets smarter with enhanced next generation platform

22 March 2023

SmartSearch, a leading digital compliance provider, gets smarter today with the launch of a next generation platform with enhanced functionalities driven by the latest technology and customer feedback.

Based on the latest, futureproof technology, the platform includes a seamless new interface as well as a host of features and a level of configurability never before available.

The streamlined service improves on what is already an industry best match and pass rate of 97%, and Triple Bureau reliability,

SmartSearch’s clients across, finance, legal, accountancy, property, gaming, banking, insurance, investment, property development and cryptocurrency now have access to bespoke configurability and automation, improved compliance standards, audit-ready reporting, row-level encryption and strengthened perpetual KYC – creating a new standard in cost-effective seamless compliance which saves clients more time and transforms customer experience.

Stress-tested for reliability, the enhanced platform has already carried out more than six million searches for clients worldwide during beta testing.

After a surge in money-laundering crimes carried out by increasingly sophisticated criminals, the imposition of thousands of new sanctions on Russia after its invasion of Ukraine and a growing number of high-profile breaches, the weight of compliance on regulated firms has become increasingly onerous.

SmartSearch’s enhanced platform brings an unmatched single-source digital solution to this challenging compliance environment.

Guy Harrison, SmartSearch CEO, said: “We are thrilled to unveil our enhanced platform. As the go-to solution for AML and risk management, this development sees SmartSearch increase its advantage in the digital compliance solutions market. “With advanced features and improved usability, our development work marks a significant step forward in response to the demands of the modern age. The platform sets a new industry standard, cementing SmartSearch's position as a trailblazer in a new era of compliance technology.”

From the ability to rapidly onboard new customers to managing the ongoing risk and compliance through each customer’s lifecycle, with perpetual Know Your Customer (pKYC), the platform mitigates risk and frees up valuable resource for teams.

It helps firms retain an ‘audit-ready’ status, safeguarding against the fines and reputational damage from potential breaches that are both costly and time-consuming. Being audit ready is crucial when dealing with investigations by the regulator.

The platform identifies people on sanctions, Politically Exposed Persons (PEP), Special Interest Persons (SIP), Ultimate Beneficial Owners (UBO), and Relatives & Close Associates (RCA) in seconds.

SmartSearch’s digital compliance solution supports more than 6,000 clients and 55,000 users across the world, helping them deploy millions of complex identity checks in seconds through a single platform.

The platform is already trusted by one in three of the UK’s top 200 law firms, 1 in 2 of the top 100 accountancy firms and more than 1,000 property companies.

For more information please visit: www.smartsearch.com