Regus

Regus

Regus wanted to introduce a best-in-class customer onboarding process for their virtual and serviced office spaces to ensure compliance and exceed the requirements of regulators.

“As the world’s largest provider of flexible workspaces, we needed to implement a robust customer onboarding solution that would be fast enough to meet customer demands and secure enough to ensure that all compliance requirements were met or exceeded.”

Michelle Valentine
UK Operations Director at Regus
Regus ID verification

Background

Due to an increase in fraudulent activity by businesses attempting to operate out of virtual offices, the market for flexible office space is subject to increased regulatory scrutiny – both from Money Laundering Regulations and locally from the London Local Authorities Act – with a lack of compliance resulting in stiff penalties.

Regus wanted to take proactive steps to protect its brand whilst providing a straightforward onboarding experience for its customers to meet these challenges.

Key benefits

Helping Regus to streamline their client onboarding to be more efficient and accurate.

Single tech partner

Producing the best results in an integrated space.

Accurate verification

A robust solution to meet onboarding demands.

Stay abreast of regulatory change

Combined results

Exceed onboarding and compliance requirements.

The Challenge

A single partner to accurately verify both individuals and companies

Previously, Regus manually verified client onboarding data against multiple databases and re-submitted paper-based documents – e.g. photocopies of passports, drivers’ licenses or national ID cards – which impacted onboarding times and reduced sign-up rates whilst resource-intensive.

As a result, it was important to find a single technology partner that could efficiently and accurately verify both individuals and companies, combining results from multiple sources whilst ensuring compliance with AML regulation and the London Local Authorities Act.

How NorthRow Helped

Delivered a solution to their complex requirements

Regus chose NorthRow to transform their compliance and client digitally onboarding processes, initially for their UK branches.

NorthRow was identified as the only technology partner that could deliver its complex requirements. By integrating NorthRow’s solution into their existing client onboarding workflows, Regus automated a complex compliance verification process, significantly reducing overall onboarding times, improving customer experience, and increasing operational efficiency.

With automation, they can now onboard and verify the documentation of sole traders, limited companies, company directors, and beneficial owners within seconds whilst delivering regulatory compliance.

What Now?

Regus now has access to the widest variety of trusted data providers

All compliance onboarding checks are now automated, with only transactions that have been flagged for enhanced client due diligence reviewed internally by the Regus compliance team. Regus now has access to the widest variety of trusted data providers, including law enforcement and credit reference agencies, via a single-point solution.

By incorporating shared intelligence from multiple sources, including trade association alerts, Regus can now benefit from robust protection against fraudulent applicants. Fraud prevention is integral for Regus’ success, and NorthRow’s intuitive risk-scoring gives their compliance team real-time data to make business decisions about onboarding.

In partnering with NorthRow, Regus can continue to perform routine checks when welcoming new customers, providing peace of mind for their operations ahead.

Testimonial

"As the world’s largest provider of flexible workspaces we needed to implement a robust customer onboarding 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 verification when welcoming new customers.”
Michelle Valentine, UK Operations Director

3,000+

Global network of workspaces

900

Different cities with business centres, spanning across 120 countries

10+

Years of partnership between NorthRow and Regus

About NorthRow
Highly secure KYC/B and ID and verification cloud software
With an extensive breadth of experience and leading software solutions, NorthRow helps businesses to successfully onboard new clients and employees. We do this through robust compliance, monitoring and remediation capabilities giving you peace of mind knowing the burden of risk management is taken care of. We unlock more time for you to focus on the single most important task - growing your business safely.

Ready to get started?

Book your free demo of our comprehensive AML compliance solution today.