Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Leading anti-money laundering firm SmartSearch launches fully integrated app

Martin Cheek

Anti-money laundering (AML) pioneers SmartSearch has launched a fully integrated app to allow AML checks to be carried out remotely.

 SmartSearch’s world-leading AML verification platform is used by more than 3,000 businesses across the world. Now, thanks to the new app, all registered users have access to the same system on their iPhone, Android or tablets at no extra cost.

SmartAML is able to electronically verify all documents remotely, with the same capabilities as the full SmartSearchverification platform. This means users can carry out instant AML checks when they are in a client’s home or office and receive the results to their handheld device in seconds.

The app reads the name, full address and date of birth from the driving license, all the user has to add is their title (Mr, Mrs, Miss, etc) and press send.  SmartAML then validates the information against the credit reference databases and automatically screens the person against worldwide sanction and PEP watch-lists which contain around 2.5 million data subjects.

The results are delivered back to the user in seconds with a green tick or a red cross. The search outcome details are then automatically uploaded into the full SmartSearch system back at the office for the rare occasions that enhanced due diligence needs to be performed.

The new client’s customer record will then be monitored either daily, weekly or monthly dependent on the client’s risk policies, for any changes to sanction and PEP watch-lists.

If the individual that the user wants to check has no driving license, they can input their name and address into their mobile device for the same checks to be carried out.

This latest development in SmartSearch’s award-winning AML platform comes at no additional costs – all current and future users will automatically have access to SmartAML.

Martin Cheek, Managing Director at SmartSearch said:“With the ever-increasing presence and risk of forged identity documents the introduction of electronic verification has brought with it confidence and certainty to AML compliance.

“We have been offering clients our award-winning automated system for seven years now, and are really pleased to be able to take our technology to the next level with SmartAML.

“By enabling our clients to perform exactly the same comprehensive checks on their customers whether they are in the office or out in the marketplace, we have given them much more freedom and flexibility, so they can concentrate on spending more time serving their clients rather than being caught up in compliance red tape.”

About SmartAML

Registered users now have the option of taking SmartSearch with them on their mobile devices when visiting clients.

To register, download the app from either Google Play Store or the App Store using the links below, or search for ‘SmartSearch AML’.

Once downloaded, you will need to register it by entering your normal browser credentials and confirm how you want to access it in future (by passcode or fingerprint)?

Once registered you have two options:

Electronic Check

  • Using OCR technology through your phone’s camera, you can scan the individual’s driving licence, click submit and SmartSearch will:
  • Verify the driving licence algorithmically and uniquely OCR read the individual’s name, address and date of birth
  • Verify the individual against credit reference data
  • PEP and Sanctions screen the individual and where applicable, monitor them for changes
  • When you are back in the office you can download a copy of the AML certificate for your own records and conduct any Enhanced Due Diligence, if appropriate.
  • If an Individual has no driving licence? No problem. You can manually input the individual’s name and address into your mobile device and verify them using credit reference data as easily as if you were sitting in your office.
  • There is no additional cost, both options are charged at your contracted UK Individual AML rate.

Document Check

  • Using OCR technology through your phone’s camera, you can scan the individual’s driving licence or passport, click submit and SmartSearch will:
  • Verify the documents algorithmically
  • PEP and Sanctions screen the individual and where applicable, monitor them for changes
  • There is also an option to check a National Insurance Number if you need additional verification.
  • When you are back in the office you can download a copy of the AML certificate for your own records and conduct any Enhanced Due Diligence necessary.
  • Again there is no additional cost, document checking is charged at your contracted basic rate.
  • (NB: If you have not contracted to International Individual Document checks, or do not want your users to have access to it via the app it can be turned off. Please speak to your dedicated Account Manager).

About SmartSearch

SmartSearch is an anti-money laundering verification platform that conducts individual and business searches, both for the UK and international markets with automatic worldwide sanction and PEP screening.

It is the only organisation in the UK with the ability to verify individuals and companies in the UK and internationally all in a single platform via a browser or API, with full Sanction, PEP and adverse media screening and then ongoing monitoring.

In existence since 2011, it has won five awards for technology and is used by over 3,000 businesses.  This includes 25% of the top 200 law firms and one in three top accountancy firms. Turnover has increased dramatically; growth has been circa fourteen fold over the past six years.

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post