Stop unnecessary compliance costs for your bank or building society
Achieve digital transformation with a tailored compliance solution for banks and building societies KYC processes. Meet your customer expectations for faster onboarding and reduce abandonment rates, whilst speeding up time to revenue.
How NorthRow help banks and building societies
Banking and their KYC, KYB and due diligence
Compliance teams within the banking sector are already using a wide range of onboarding and monitoring tools from NorthRow, including biometric facial recognition and liveness detection, through to automated banking KYC and KYB verification on international companies and individuals.
If you are regulated by MiFID II, we also provide fully automated client classification, suitability, appropriateness and cross border assessments on your clients.
Onboarding for the banking sector
Accelerated onboarding with RemoteVerify
New customers expect to be onboarded faster using digital technology. Banks and building societies can now onboard clients remotely and the latest biometric technology allows verification from anywhere at any time. Verification results are delivered in real-time to accelerate KYC onboarding to ensure banks and building societies stay ahead of their competition.
Remove manual processes
One supplier for banking KYC, AML and ongoing monitoring
Banks and building societies can no longer rely on manual spreadsheets. The regulators want to see the use of digital platforms for automated compliance processes. NorthRow’s unique, user-friendly platform delivers efficient end-to-end, KYC, AML and ongoing monitoring from one single platform.
Data security is front and centre
Automatic audit trail
WorkStation allows you to create workflows, store and export information at a click of a button, while providing assurance that all data is held on a secure platform making it easily accessible for both internal and external audits.
“NorthRow's ability to deliver a bespoke solution that combines automated identity checks with the added security of face-to-face verification made it the obvious choice when deciding which firm to partner with to securely deliver Open Banking.”
500k+ worldwide users
173 active countries
Banks and building societies face daily challenges in the battle against dirty money, often employing large numbers of staff to combat money laundering and financial crime. Regulators are imposing crippling fines and are now expecting to see digital solutions to counter the risk of financial crime, money laundering and fraud. NorthRow supports banks and building societies to achieve compliance quickly and cost effectively.