Identifying UBOs is crucial for transparency, anti-money laundering, and preventing fraud. Effective UBO verification involves thorough KYC/KYB processes, and tools like NorthRow simplify the identification of UBOs by uncovering complex ownership structures. … Read More
Client Onboarding
Facial recognition software explained
Facial recognition software is used to verify a person’s identity based on their facial features – but what exactly is it? … Read More
What is KYC due diligence?
Know Your Customer (KYC) ensures compliance by verifying identities, assessing risks, and enabling ongoing monitoring. Automated KYC enhances efficiency, reduces risk exposure, and improves customer experience, ensuring compliance with AML regulations effectively. … Read More
The importance of KYB checks: best practices for compliance
As financial crime threats evolve, so does the importance of conducting Know Your Business (KYB) checks. In today’s business landscape, regulatory bodies expect compliance officers to conduct a comprehensive KYB check for each company they onboard to ensure compliance with … Read More
5 benefits of online ID document verification in a digital age
ID document verification is an essential part of KYC onboarding, as well as when employers are verifying employee right to work ID&V. It’s a process that ensures a person is who they are claiming to be when required to open … Read More
Client onboarding brochure
NorthRow’s company and individual onboarding solutions enhance customer experience, increase sales and improve regulatory compliance. … Read More
What is the UK Digital Identity and Attributes Trust Framework from the DCMS, for digital identity certification?
The UK Digital Identity and Attributes Trust Framework, from DCMS (Department for Culture, Media and Sport) is a set of rules for digital identities, announced and developed since 2021. It provides a framework that organisations must follow to conduct secure, trustworthy identity and/or attribute checks when onboarding staff.
The framework was developed by the DCMS, in conjunction with the Home Office, alongside a Home Office review of the availability and ability of specialist technology to support digital Right to Work checks in the UK. … Read More
4 ways software can ensure KYC/AML compliance
Risk and compliance software platforms help businesses record, track and manage their regulatory obligations. Firms that offer this technology help businesses comply with regulations efficiently and less expensively than manual, process driven solutions. RegTech providers offer bespoke integrated solutions that … Read More
12 Benefits of Using KYC Software
Faster, easier and lower-cost digital channels have been adopted by regulated organisations to achieve new business growth. However, current regulatory requirements create a complex landscape, particularly when it comes to delivering the convenience of signing up through digital channels and the business is still using manual processes for Know Your Customer (KYC) identity verification. … Read More
Adverse media screening for AML compliance
Adverse media screening helps identify customers linked to criminal activity, reducing financial, reputational, and regulatory risks. Automated tools enhance compliance by scanning global news, databases, and regulatory sources for potential threats. … Read More