Digital transformation in the banking sector involves leveraging technology to streamline operations, enhance customer experiences, and stay competitive in a rapidly evolving landscape. However, amidst this transformation, it’s crucial for banks to ensure they meet Anti-Money Laundering (AML) compliance requirements. … Read More
Regulatory Compliance
From checkout to compliance: Leveraging tech for success in payments compliance
At a time when digital payments and online transactions form the backbone of our financial landscape, ensuring compliance with Anti-Money Laundering (AML) regulations is more important than ever. For payments firms, ensuring compliance with AML regulations can be challenging, however … Read More
8 ways software can streamline compliance operations
AML compliance software simplifies due diligence, automates risk assessments, enables real-time monitoring, streamlines reporting, ensures audit trails, centralises documents, and scales with growth—optimising operations and ensuring regulatory compliance for UK firms. … Read More
Financial crime compliance: The role of KPIs in measuring success
UK regulated businesses face growing challenges in combating financial crimes. Effective KPIs – abandonment rates, onboarding times, penalties, training effectiveness, and regulatory adaptability – are crucial for compliance teams to enhance processes, mitigate risks, and maintain efficiency. … Read More
Safeguarding the legal profession: Navigating the compliance landscape
AML compliance is critical for UK legal firms to prevent financial crime, uphold public trust, and avoid penalties. SRA guidance emphasises tailored risk assessments, training, internal controls, and clear processes for PEPs. … Read More
PSD2 compliance: What businesses need to know
PSD2 enhances payment security, competition, and consumer protection in the EU. Key elements include Strong Customer Authentication, access to account, data privacy, and regulatory compliance, with penalties for non-compliance. … Read More
How NorthRow is helping regulated companies to succeed
In today’s fast-paced and ever-evolving business landscape, regulated companies face numerous challenges in order to succeed while maintaining compliance with stringent regulatory requirements. The integration of advanced technology has become pivotal in streamlining operations and achieving growth without compromising on … Read More
Using RegTech to develop a businesswide culture of compliance: how can it help?
Compliance is a continuous journey, not just a one-time tickbox. Using Regulatory Technology (RegTech) to develop a businesswide culture of compliance can provide numerous benefits for organisations. Leveraging regtech can significantly contribute to the development of a positive compliance culture … Read More
Who must firms register with for anti-money laundering purposes?
Anti-Money Laundering (AML) registration ensures businesses prevent financial crime, comply with legal obligations, protect reputations, and manage risks effectively. … Read More
What is a person with significant control (PSC)?
A Person with Significant Control (PSC) is an individual with substantial influence over a company’s decisions. Identifying PSCs ensures transparency, compliance, and helps prevent financial crimes and illicit activities. … Read More