Streamlining Customer Onboarding for Estate Agents
Real-time AML Checks
Since the introduction of the 4th Money Laundering Directive, estate agencies are legally required to perform AML checks on both the buyers and sellers in property transactions.
The level of due diligence that is now required has significantly increased the administrative burden for the agents. AML checks can be complex and time-consuming and can significantly impact the client onboarding process.
Watch Richard Ingles, Head of Client Development at NorthRow, explains in the following short video, the current challenges facing the property sector in relation to onboarding are significant.
Richard Ingles, Head of Client Development
HOW WE HELP?
At NorthRow, we work with a number of the UK’s leading Agents to help automate AML, Right to Rent and ID Verification checks on all clients, ensuring a fast, secure and help ensure compliant onboarding process.
"With access to one of the largest databases of screening information available in the UK, NorthRow’s technology can perform comprehensive identity verification checks on buyers & sellers, tenants, landlords, companies and all relevant ID documents in a matter of seconds. "
HOW OUR SOFTWARE AUTOMATES AML & RIGHT TO RENT CHECKS
NorthRow’s provides real-time data lookups on people and companies, ID documents.
You simply input the customer’s details on a NorthRow online form and upload all relevant ID documents. NorthRow can then check multiple identity documents including Passports, biometric residence permits (BRPs), and National ID cards.
NorthRow receives the data submitted your have submitted and performs comprehensive AML and Identity verification checks to verify customer details and their identity.
Within seconds NorthRow completes the AML checks and delivers a pass/fail result, or refers the result with a detailed report to the management console for review. This capability Key feature of
Our Single API will provide you with an in-depth due diligence and streamlined customer on-boarding functionality.
OUR AML SOLUTION WE PROVIDE OUR CLIENTS:
- Address Verification Check
- Identity Document Verification Checks
- Beneficial Owner Check & Monitoring
- CCJs & Personal Insolvency check
- HM Treasury Sanctions check
- Screen individuals against PEP and Sanction data (EU & OFAC)
- Politically Exposed Persons (PEPs) Checks (Both on Domestic and International)
- Known as Deceased
- Automatically monitors and screening of your contact database
- Maintain a full and paperless audit trail.
SECURE, ENCRYPTED DATA STORAGE
All checks are stored (encrypted at rest and in transit) within the NorthRow console, time and date stamped, are fully secure offering a full audit trail helping to ensure you can easily demonstrate compliance.
REAL-TIME RIGHT TO RENT CHECKS
Want to learn more about our Right to Rent checks? Link to Right to Rent page here
Clients We Help Include
"As the world’s largest provider of flexible work spaces we needed to implement a robust customer on-boarding solution that would be fast enough to meet customer demands but also secure enough to ensure that all compliance requirements were met or exceeded. By partnering with NorthRow, we have achieved peace-of-mind in performing routine checks when welcoming new customers."
Michelle Valentine, UK Operations Director, Regus