Regulatory scrutiny in the property sector is greater than ever. Estate agents are under increasing pressure to implement risk mitigation strategies to ensure they are compliant with a number of regulations relevant to their sectors. For example, changes to Immigration laws in 2016 focused on the question of Right to Rent, while the 4th Money Laundering Directive (4MLD) brought in the requirement for money laundering checks to apply to both buyers and sellers.
WHO WE HELP?
NorthRow works with several UK leading Estate Agents, helping them to simplify their due diligence checks, streamline customer onboarding and help ensure compliance with current Money Laundering and Right to Rent regulations.
HOW WE HELP?
NorthRow helps property businesses tackle the ever growing demands of an increasingly regulated sector. With one of UK’s largest databases of screening information available, NorthRow’s technology checks tenants, landlords, buyers, sellers and all relevant ID documents in seconds – via a single API.
Our breadth of data coverage and accuracy enables our clients to make crucial data-driven decisions, instantly, about who to do business with.
With NorthRow, estate agents can perform real-time automated checks, for a much smoother customer onboarding process. As well as doing everything in real-time to drive operational efficiency, it automatically stores all of the data, creating an audit trail with documents appended in a fully secure and encrypted manner.
1. Check multiple ID documents in real-time. These include: Passports, National ID Cards, Visas, and Biometric Residence Permits (BRPs).
2. Ensure compliance for Right to Rent and AML regulations.
3. Real-time response validates individuals and businesses in seconds.
4. Full audit trail of all checks with data and documents stored securely within NorthRow.
"After looking into various identity verification providers, we have chosen NorthRow because the platform is the only one that provides comprehensive access to all the data sources we need, delivered via a single platform to meet our regulatory requirements. NorthRow’s platform enables us to make timely and informed decisions about who we do business with and onboard them quickly".
Narinder Khattoare, CEO, Kuflink