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Commercial & Domestic Lending

The Joint Money Laundering Steering Group (JMLSG) is an Organisation made up of Bodies such as the BBA, BSA, FLA, CML and they provide HM Treasury Approved Guidance for the Commercial and Domestic Lending Sectors. Lending Organisations need to identify and verify the identity of all new clients. The level of KYC and CDD needs to be proportionate to the risks involved. Higher risk relationships would include those where the client has not been physically present and requires a higher level of due diligence.

SmartSearch enables Lenders to comply with these onerous AML obligations, we’ve made it easy as all our AML functions are on one platform for Business and Individual AML verification along with all your Sanction and PEP checking.   We have also incorporated daily monitoring so once you have completed your AML check we will continue to monitor it and alert you of any change in status.   Finally where you do get a Sanction or PEP alert SmartSearch will alert you to this fact by email and it will automatically launch automated Enhanced Due Diligence to confirm in most cases that the Sanction or PEP match was indeed a “False Positive”.   On the very rare occasions it is a real match then SmartSearch will provide all the intelligence for you to perform a manual Due Diligence process on that client.   With this feature enabled Enhanced Due Diligence for Sanction and PEP alerts are very much an activity you did in the past.   This unique range of service functionality enables your MLRO to keep a “watching brief” on your Businesses KYC & CDD ensuring your business remains protected and compliant.

Access to the SmartSearch platform can be via a simple “Browser Solution” with same day set up and hardware cost implications.   Alternatively for larger volume users or Network Organisations, SmartSearch can be launched from your Intranet with a “Secure Single Sign On” process enable users to access the same with minimal effort.   Finally API connections are also available for Organisations who prefer a fully integrated solution.

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