Author Archives: Chris Bourne

KYB process

Maximising efficiency: The KYB process explained

The KYB (Know Your Business) process refers to the procedures and checks that businesses undertake to verify the identity and legitimacy of their customers or business partners. It involves gathering information and conducting due diligence to ensure compliance with regulations and mitigate risks. … Read More

Facial recognition software

Facial recognition software explained

Facial recognition software is used to verify a person’s identity based on their facial features – but what exactly is it? … Read More

mlro

What is an MLRO?

Money Laundering Reporting Officers (MLRO) oversee a firm’s compliance with anti-money laundering and terrorist financing requirements. … Read More

prevent financial crime

5 ways to help prevent financial crime

Organisations from all industries from around the world are facing ever-increasing challenges to prevent financial crime and other fraudulent actions taking place. Fraudsters are constantly evolving their techniques and target the weaknesses in processes. One process weakness could affect an … Read More

International company coverage

International company coverage brochure

NorthRow’s breadth of international company coverage is greater than that offered by any single data supplier, and we are one of the very few UK- based firms that has an intelligence-sharing agreement with law enforcement agencies. … Read More

client onboarding brochure

Client onboarding brochure

NorthRow’s company and individual onboarding solutions enhance customer experience, increase sales and improve regulatory compliance. … Read More

kyc checks

12 Benefits of Using KYC Software

Faster, easier and lower-cost digital channels have been adopted by regulated organisations to achieve new business growth. However, current regulatory requirements create a complex landscape, particularly when it comes to delivering the convenience of signing up through digital channels and the business is still using manual processes for Know Your Customer (KYC) identity verification. … Read More

Right to Work checks

Right to Work Checks: What Hiring Managers Need to Know

If you are an employer in the UK, it is mandatory to carry out Right To Work checks on every employee to ensure compliance with Home Office legislation to prevent illegal working.

Prior to employing any individual, a Right To Work check must be undertaken whether they are UK citizens, from overseas, or free from immigration control. … Read More

customer due diligence with kyc checks

What is client due diligence (CDD) and how does it work?

When considering onboarding processes, there can sometimes be confusion between KYC and CDD because the terms are so closely linked. Simply put, KYC (Know Your Customer) checks tend to refer to those carried out at the beginning of a relationship, to initially establish and verify the identity of the subject you are onboarding. CDD (Customer Due Diligence), on the other hand, refers to the ongoing process of retaining confidence in the data you have collected, making any changes and identifying any issues that may be suspicious, and may require further investigation. … Read More

Northrow corporate brochure

NorthRow brochure

NorthRow significantly reduces the administrative overheads associated with regulatory requirements, providing the ability to add workflows, automation and application integration to your processes. … Read More