One of the biggest challenges for compliance officers when onboarding businesses, is identifying and verifying the Beneficial Owners behind those companies. Compliance teams often have to navigate through complex corporate structure webs to understand the true risk associated with a business client. At NorthRow we saw an opportunity to simplify this process. We have developed an identification tool that delves into the complex ownership structure of your target organisation and returns a straightforward table containing the only UBOs that you are required to screen. Read our latest blog to learn more. … Read More
Author Archives: Anton Zdziebczok
Compliance Cost of Amber Management
A world of binary results of either pass or fail, (Green or Red) would be nirvana; but that just isn’t realistic. There will always be cases that require further due diligence before you safely commit to onboard, or continue to interact with the customer, or not. Ambers are those cases that fall between the ‘accept’ or ‘decline and cause your business a challenge. … Read More
Why is ultimate beneficial ownership verification important?
Ultimate Beneficial Ownership (UBO) is vital for compliance and financial crime prevention. NorthRow’s tool simplifies UBO verification, enhancing accuracy and efficiency. … Read More
Guide to Ongoing KYC Monitoring
Effective ‘continuous KYC monitoring’ is essential for Compliance Officers if they want to stay ahead of the criminals and satisfy the regulators. During 2020 many firms expedited the digital transformation of the front end of compliance, at the point of onboarding, due to the global pandemic and the need to meet the demand for digital interactions. These investments should now be used across the entire customer lifecycle to avoid exposing their business to increasing levels of risk. In this blog we explore the importance of ongoing monitoring in 2021. … Read More
What is a configurable risk-based regulatory rules engine?
Risk-based regulatory rules engines streamline client onboarding, enhance operational efficiency, and future-proof compliance processes. These systems automate data verification, reduce false positives, and ensure seamless, regulatory-compliant client journeys. … Read More
Client lifecycle KYC management: Taking a holistic approach
Client lifecycle KYC management streamlines onboarding, verification, monitoring, and remediation processes, ensuring compliance, efficiency, and enhanced due diligence, while automating tasks to improve accuracy and reduce operational costs. … Read More