Due to an increase in fraudulent activity by businesses attempting to operate out of service offices, the market for flexible office space is today subject to increased regulation - Money Laundering Regulations and locally from the London Local Authorities Act (those based in london).
As a result managing and demonstrating compliance within a web of multiple regulations can be time consuming, resource intensive and expensive. It can also negatively impact the customer onboarding process (particularly if the onboarding process is too confusing or arduous for customers).
To remain competitive, service offices need to be able to rapidly and efficiently on-board new customers whilst conducting thorough due diligence to ensure that fraud and compliance risks are mitigated.
How we Help?
NorthRow provides the service office sector with a single global platform to verify and risk-score people, companies and ID documents. Our solution is the only solution of its kind that allows serviced office providers to carry out complex checks in real-time, via a single, automated API.
We offer an unparalleled breadth of rich data, and the flexibility to incorporate data feeds from as many sources as are necessary. In addition to our partnerships with a number of leading commercial data providers, NorthRow is one of the very few UK-based firms that has an intelligence sharing agreement with law enforcement agencies.
We also work closely with the Business Centre Association (BCA) to continue to refine our range of solutions.
NorthRow offers best-in-class customer onboarding solution to help ensure compliance, enabling serviced office providers to exceed the requirements of various regulators, protecting their brand and ensuring our clients maintain the highest standards in the market sector.