Ilkley-based SmartSearch moves into US market for its anti-money-laundering services

Anti-money-laundering firm SmartSearch is to move into the American market as it expands its operations.

Ilkley-based SmartSearch has been frequently named among the UK’s fastest-growing companies, and a leader in the increasingly important ‘RegTech’ sector.

Last year, it won the Innovation Award at The Yorkshire Post Excellence in Business Awards as well as receiving a Queen’s Award for Enterprise.

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SmartSearch has found success after it developed its one-stop Know Your Customer (KYC) and AML platforms which enable clients to perform full electronic ID verification and screening in just two seconds, as well as ongoing monitoring to alert users to any change in a client’s status.

John Dobson, CEOJohn Dobson, CEO
John Dobson, CEO

The full suite of AML checks can be performed remotely, with no need for face-to-face contact or physical documents to be exchanged.

The Covid-19 pandemic is still a significant factor in many US states such as California and Texas and SmartSearch believes its services provide a significant competitive advantage 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.

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Chief executive John Dobson, inset, said: “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.

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

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