SmartSearch, the UK’s leading provider of digital compliance and anti-money laundering (AML) solutions, today announces the integration of LSEG’s (London Stock Exchange Group) World-Check One solution into its watchlist screening offering.
The addition of LSEG as a data provider bolsters SmartSearch’s data coverage, joining Dow Jones Watchlist to deliver comprehensive Watchlist screening for SmartSearch customers.
Offering triple-bureau reliability, SmartSearch uses global data from Equifax, Experian and Transunion, combined with biometric and AI-driven technology to verify individuals and businesses instantly, determining if they are present on sanctions lists. The platform also then performs real-time screening for anyone who may not be illegal to do business with but who carries greater risk, such as Politically Exposed Persons (PEPs), Special Interest Persons (SIPs) and Relative or Close Associates (RCAs). This simplifies customer onboarding and ongoing monitoring of their status, as well as ensures compliance with Know Your Customer (KYC) and sanctions enforcement regulations.
Making these checks as thorough and their results as well-informed as possible requires extensive data coverage and cutting-edge functionality, matching the sophisticated, ever-evolving methods used by financial criminals to carry out and conceal their illicit activities. The integration of LSEG’s World-Check One solution will enhance existing SmartSearch watchlist screening and functionality by introducing comprehensive adverse media monitoring, advanced fuzzy matching for name variations, real-time monitoring capabilities, and access to data from over 100,000 reputable sources across 66 SIP categories.
“Businesses in regulated sectors face potentially unlimited fines and even jail time for non-compliance with AML regulation, as well as unwittingly becoming a cog in the financial crime machine if a criminal slips through the net - implicating the business in facilitating drug smuggling, human trafficking and even terrorism,” said Fraser Mitchell, Chief Product Officer at SmartSearch. “We are dedicated to helping our clients avoid this fate, which is why we’ve added LSEG’s World-Check One Solution to our watchlist screening offering. With market-leading data coverage, our clients can quickly and confidently verify prospective customers’ identities when onboarding and monitor their status throughout the relationship, enabling them to grow their business and win customers through trusted identities.”
“Both LSEG and SmartSearch share a vision to ensure convenient compliance and frictionless customer journeys.” said Teodora Christova, Global Director of Partnerships at LSEG.
“Our World-Check One Solution combines global intelligence and human expertise with the latest technology. The integration with SmartSearch will help its customers uncover hidden risks and protect the people behind the statistics.”