NorthRow

Mitigating risks for retail

Manage suspicious activity and minimise false positives

Understand and identify potential red flags, stay informed about geographic warnings, and implement a robust compliance program to effectively mitigate financial, operational, and repetitional risks.

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Coverage
retail market ID verification

Join banks such as Open Banking, Triodos, Yorkshire Building Society and Banct who have reduced their client onboarding risks.

The biggest AML challenges for the retail space

SUPPLY CHAIN DISRUPTIONS

Logistical challenges, exacerbated by geopolitical factors, continue to affect product distribution and pricing.

EVOLVING AML REGULATIONS AND COMPLIANCE

The Corporate Transparency Act, require more extensive reporting and due diligence to prevent financial crimes.​

DIGITAL PAYMENTS AND CRYPTOCURRENCY RISKS

The rise of digital payment methods presents new avenues for money laundering. 

REDUCING FALSE POSITIVES

Retailers face the challenge of detecting suspicious activities while reducing the number of false positives.

OMNICHANNEL CONSUMER EXPECTATIONS

Shifting towards omnichannel shopping means customers expect a seamless experience across all platforms.

RISK ASSESSMENT AND DUE DILIGENCE

To build due diligence, retailers must ensure strong processes when vetting and understanding customer behaviour.

4.9%

growth in global retail sales in 2024

£4.91 TN

ecommerce sales with 28M global stores

83%

of sales still happen in physical retail stores

429%

higher multichannel conversions

60%

shop for experiences, 31.5% buy instantly

How NorthRow helps

Ensuring transparency and clarity in ultimate beneficial ownership for AML Compliance

With trusted data sources and continuous monitoring, NorthRow enables retailers to confidently track business partner legitimacy and stay compliant with AML regulations.

Improve accuracy and reduce false positives

Reduce irrelevant matches and false alerts by cross-checking client information across global databases to identify high-risk individuals and entities more accurately.

Evaluate partners against global watchlists for due diligence

Assess potential business partners and customers against global watchlists, sanctions lists, and PEP databases, ensuring compliance with AML regulations.

Adhere to AML regulations with KYC and KYB checks

Perform robust Know Your Customer and Know Your Business checks while implementing continuous monitoring to detect and report suspicious activities in real-time.

retail

Fraud is now heavily automated through AI, but the worrying thing is that we are now in the territory where it can be automated from start to finish, meaning there’s nothing stopping a bad actor, as we call it, from committing fraud a thousand times simultaneously.

retail fraud expert

Alex Wood

Ex-Fraudster | International Speaker

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Customer Confidence

Implement a comprehensive customer identification program

With advanced identity verification, the retail industry can widen its risk assessment processes, creating a precise audit trail and setting the tone for future customer interactions.

investment banking KYC check
WorkStation UBO checks and verification
Mitigate Risk

Address complex ownership structures effectively

Instil thorough due diligence and establish the identity of the ultimate beneficial owners, helping to unravel complex ownership structures or the use of shell companies.

Detect Irregularities

Understand AML red flags and overcome geographic concerns 

Recognise the warning signs early on and raise suspicions regarding potential money laundering activities between different jurisdictions and unexplained connections.

venture capital KYB check

Impact in numbers: elevating compliance for retail

We bring together global market-leading data sources and verification technologies into a single, simple interface, accessible anywhere, any time.

< 4%

Abandonment rate

220+

Jurisdictions

500m+

Entities available

13,000

Documents supported

1.5m

Daily news articles

< 2%

False positive rate

Optimise user engagement

With customers demanding frictionless online and in-store experiences, retailers can instantly verify customers, reducing wait times and improving customer satisfaction.

Manage payment risks

Increased fraud risk with the rise of new payment methods such as digital wallets means retailers can identify high-risk clients by stopping deepfakes and synthetic IDs.

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Leverage advanced verification

Stay ahead of bad actors by utilising advanced ID technologies like biometrics and AI-powered identity verification to balance convenience with security.

credit cards
cloudpay

Helping CloudPay slash validation times from days to minutes, enabling rapid service expansion.

CloudPay chose NorthRow to deliver a quicker, more efficient onboarding process to support rapid growth and lofty ambitions for the future while enhancing compliance and security and improving the overall customer experience.

Read their story

Banking FAQs

For all of your burning questions, take a look at our FAQs. Can’t find the answer to your question? Feel free to contact us directly and we’ll be happy to help.
What data providers do you use?

NorthRow integrates with lots of renowned global data providers, corporate registries and premium data sources, providing unrivalled access to the data your business needs.

Our key data providers are as follows:

Dun & Bradstreet who are leading company data and UBO database specialists, featuring over 500 million global company entities.

Lexis Nexis is our core provider of UK identity and address validation data, such as credit reference agency and electoral register data.

Acuris (often referred to as C6), is our core provider of risk data. Specifically for PEPs, sanctions and adverse media.

Creditsafe is our supplier for KYB/company data. Often used for corporate ownership and structure information. This includes company directors, shareholders and other interested parties as well as where a company is based and its business activities to help support identification of UBOs.

More information can be be found here.

What do you do with our data?
At NorthRow we take security very seriously, we adhere to the highest, rigorous standards for data, privacy and security compliance. The data you send us is only used to verify your client’s identities and businesses. We never use it for any other purpose. We send it to third parties to complete the checks, and we can share our list of sub-processors with you so that you have full transparency of how your data is used.
Where is our data held?
Our products are tested continuously throughout our development process by a team of internal QA engineers. In addition to the application testing we regularly scan for vulnerabilities using third party services and undertake annual detailed penetration testing. We continually monitor new vulnerabilities and proactively work to ensure that we are protected.
How do you test your services?
Our products are tested continuously throughout our development process by a team of internal QA engineers. In addition to the application testing we regularly scan for vulnerabilities using third party services and undertake annual detailed penetration testing. We continually monitor new vulnerabilities and proactively work to ensure that we are protected.
What about service availability?
NorthRow makes use of the Amazon Web Services and Microsoft Azure to ensure we do not have a single point of failure in our architecture. All the data we hold and the services we provide are backed up at regular intervals to protect against disruption or loss of data.
What support is included?

From the moment we work together we hold your hand throughout the implementation process and continue through to ‘go live’.

Excellent customer service and continued support are all part of partnering with NorthRow. You can always email our support team on support@northrow.com if you have any queries.

All Premium and Enterprise package customers receive a dedicated account manager who will keep in touch to ensure you get the most out of our software.

How fast can I be up and running?
Typically, we get our clients live within 14 days of them signing a contract.

We’ve worked with hundreds of regulated businesses. Let’s work together.

Book your free demo of our ID&V, KYC, KYB, and AML compliance solution and discover how we’ve turned compliance into a competitive advantage for companies like Knight Frank, CloudPay, and Yorkshire Building Society.

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