Digital transformation is the process of using technology to establish new — or improve existing — processes, culture, and customer experiences to meet ever-changing business and market demands. According to McKinsey & Company, a ‘well-executed, end-to-end risk-function digital transformation can … Read More
Regulatory Compliance
A New AML Register for Property Firms: The Register of Overseas Entities
On August 1st, the UK Government released a new public property register to attempt to put a dent in the £100bn of ‘dirty money’ that gets laundered through the UK every single year. The Register of Overseas Entities requires any overseas … Read More
NorthRow brochure
NorthRow significantly reduces the administrative overheads associated with regulatory requirements, providing the ability to add workflows, automation and application integration to your processes. … Read More
What is the Register of Overseas Entities and How Will it Impact Property Transactions?
In March of 2022, in the wake of the Russian invasion of Ukraine and amid rising concern about dirty money entering the UK originating from Russia, the Government fast-tracked the Economic Crime Act 2022 through Parliament. At its core, the main … Read More
What due diligence checks are mandatory in the UK?
If a business is covered by Money Laundering Regulations, it has a responsibility to meet certain day-to-day criteria. These include Customer Due Diligence (CDD) measures to ensure that customers are who they say they are. … Read More
The Future of Compliance: Digital Transformation Meets Regulation
Digital transformation is driven by growth opportunities, followed by increased competitive pressure and new regulatory standards. Digital Transformation (DT) is nothing new; it’s an industry in itself that has become diluted to a point where it has virtually lost its … Read More
What is Know Your Business (KYB) and Why Does it Matter?
Know Your Business is the mandatory method by which banks and financial institutions get to know their customers’ businesses to ensure everything is above board in order to minimise the risk of financial crime, money laundering or other fraudulent activity … Read More
Compliance Cost of Amber Management
A world of binary results of either pass or fail, (Green or Red) would be nirvana; but that just isn’t realistic. There will always be cases that require further due diligence before you safely commit to onboard, or continue to interact with the customer, or not. Ambers are those cases that fall between the ‘accept’ or ‘decline and cause your business a challenge. … Read More
Building Societies Digital Transformation
Digital transformation projects have been fast-tracked for Building Societies Learn more now. … Read More
Why is ultimate beneficial ownership verification important?
Ultimate Beneficial Ownership (UBO) is vital for compliance and financial crime prevention. NorthRow’s tool simplifies UBO verification, enhancing accuracy and efficiency. … Read More