Trans Atlantic expansion for RegTech firm
Anti-money-laundering (AML) firm SmartSearch has opened its first office in the USA just two months after starting operations across the Atlantic.
Building on the success of the initial launch, Ilkley-headquartered SmartSearch has confirmed it will have a presence on the ground in the state of Utah.
Recruitment is now underway for a team to support the office head Chad Rawlings, with group support from international strategy director Martin Turvey.
SmartSearch has developed an AML product for the North American market. It says US firms using its instant online system can now have the same confidence as those in the UK that their AML checks are comprehensive and compliant with relevant legislation at all times.
In addition, SmartSearch has developed a fully integrated app to allow checks to be performed ‘on the go’.
John Dobson, CEO at SmartSearch, said: “We have seen a period of sustained growth since we established SmartSearch nine years ago.
“Our move into the US market comes at the right time for the business and is in line with our global ambitions.
“Having a presence on the ground in the rapidly growing ‘silicon slopes’ area of Utah, home to many well-known and growth technology companies, is really important to us. It gives us a base from which to take our products and services all over the country.
“We’re really pleased to have chosen Chad to head up the operations out there and we’re confident he will build a strong team of talented people around him.
“SmartSearch has built a reputation as being one of the UK’s leading RegTech firms through a combination of cutting-edge technology and friendly, efficient customer service, with a client retention rate of 98%.
“We want to bring those assets to bear in the US market, while continuing to deliver day-in, day-out for our UK clients.”
SmartSearch’s Know Your Customer (KYC) and AML platform enables clients to perform full electronic ID verification and screening in just two seconds, and provides ongoing daily monitoring to alert users to any change in a client’s sanction or PEP status.
The platform has also recently incorporated biometric facial recognition for additional security, and there are well-advanced plans for further enhancements.
