Accelerating Client Onboarding for Open Banking
Open Banking was established by the UK Government’s Competition & Markets Authority (CMA) in September 2016 with the remit of making it easier to manage bank accounts, to increase competition in the space, and to fundamentally put power back into the hands of personal and business customers.
NorthRow are exclusively handling Open Banking’s identity proofing and verification processes, to ensure security and customer needs sit at its very core. Any FCA-regulated third party will be able to apply to access customer data, therefore thorough and comprehensive verification checks are paramount..
Key Benefits Include:
Real-time AML, KYC, KYB & IDV checks
Ongoing client monitoring
Managed service for enhanced due diligence
Verifiable audit trail to help ensure ongoing compliance
Key Clients Include
"NorthRow has been very easy to work with; they have listened and their approach is professional, transparent and consultative. Their 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. NorthRow's technology innovations made them a clear front-runner when it came to deciding what firm to team up with to securely deliver Open Banking.”
Nigel Spencer, Head of Support Services at Open Banking