AML firm SmartSearch launches in US

Leading anti-money-laundering (AML) firm SmartSearch has launched its award-winning platform and suite of compliance and anti-fraud services to the US market.

 The UK-based firm has developed a bespoke product for the American market, giving US firms a fully comprehensive identification, verification, screening, and monitoring service that will ensure they meet all their BSA/AML requirements.

 SmartSearch’s simple and easy to use platform enables financial institutions to complete all the required due diligence on their customers without the need for manual documents.

 Users only need to enter their clients’ details into the system, and it performs a full AML check – including screening for sanctions and PEPs - within two seconds. The platform is automatically updated to comply with the relevant US and international legislation and also provides an ongoing monitoring service. This gives US firms using SmartSearch the peace of mind that their AML checks are up-to-date and they're fully compliant at all times.

 John Dobson, chief executive of SmartSearch said: “Our combination of cutting-edge technology and friendly, efficient customer service means SmartSearch is already one of the UK’s leading RegTech firms. We have now brought that service to the American market so that US firms using SmartSearch have the same absolute confidence as those in the UK.”

 SmartSearch can be used standalone or integrated with customers’ existing systems, enabling them to streamline and automate their customer onboarding processes and CIP.

 It also has a fully-integrated app so that users can complete checks from any device, anytime – hugely advantageous during social distancing when many are still working from home.

 Dobson continues: “With the Covid-19 pandemic still impacting customer onboarding processes, it has never been more important for US firms to have access to alternatives. SmartSearch enables firms to complete all the relevant AML checks without the need for manual documents, while the app means checks can be run remotely, making it easy for firms to continue to meet their BSA/AML requirements even if they cannot see clients and their documents face to face.