NorthRow

Tackling AML and KYC in lending

Optimising onboarding to address client risk and fraud prevention

Integrate seamless verification checks that enable lenders to conduct thorough due diligence efficiently. This approach helps identify potential risks early in the onboarding process, facilitating informed decision-making.

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Coverage
SME lenders checks

Join lenders such as Granyt and Specialist Lending who have addressed client risk and prevented fraud.

The biggest AML challenges for SME lenders

ECONOMIC UNCERTAINTY

Fluctuating economic conditions, affect SMEs’ funding ability and heighten lenders’ risk profiles.

COMPLEX REGULATORY LANDSCAPE

Stringent regulations, particularly concerning AML and KYC requirements, demand technology investment for compliance.

RISK-BASED APPROACH

Lenders require risk assessments that address both financial health and potential money laundering.

IDENTIFYING BENEFICIAL OWNERS

The complexity of ownership structures among SMEs can make it difficult to conduct thorough customer due diligence.

CHANGING CUSTOMER EXPECTATIONS

SMEs expect fast, seamless lending, urging lenders to adapt while managing costs.

COMPETITION FROM ALTERNATIVE LENDERS

The rise of fintech and alternative lending creates intense competition, forcing SME lenders to innovate their services.

50%

of SMEs need extra financing in 2024

£6 BN

in repayments remains stable per quarter

Q1 2024

Highest level of SME lending since Q4 2022

150

alternative finance available in the UK

60%

of UK private sector jobs are in SMEs

How NorthRow helps

Effortless AML compliance for SME Lenders that enables you to onboard clients in minutes

Provide a friction-free experience for your clients with digital onboarding and maintain compliance, allowing you to focus on growing your business.

Create digital audit trails for KYC excellence and transparency

Establish comprehensive records that demonstrate clear audit trails for regulators. Each record provides details of KYC/KYB and AML actions and outcomes, ensuring accountability.

Boost access to SME funding while identifying risks

Transform your onboarding process by returning risk-based decision recommendations within minutes, helping you navigate complex and high-risk environments with confidence.

Chart compliance through multi-layered ownership

Navigate the presence of multiple ownership layers and subsidiaries that can operate across various jurisdictions with differing regulatory requirements. 

sme lending

An estimated 80% of criminal networks active in the EU actually use legal business structures, so it really shows how critical it is to understand who is hiding behind these structures and the importance of being able to identify who is the ultimate beneficial owner.

sme lending expert

Laure Brillaud 

Investigative Reporter 

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Accelerated Success

Achieve unmatched efficiency in client onboarding journeys

Integrate automated compliance checks with enhanced risk assessments to achieve regulatory success while streamlining swift client onboarding.

sme lenders verification
KYC peps and sanctions
Risk Mitigation

Optimise screening and monitoring to safeguard against threats

Automate tailored screening against sanctions lists and PEPs to detect fraud and reduce false positives while enhancing satisfaction and minimising manual effort.

Enhanced Insights

Unifying adverse media for comprehensive client profiles

See beyond surface risk exposure by focusing on key indicators to identify high-risk entities, with unified profiles providing compliance teams clarity on client risk factors.

case management for sme lenders

Impact in numbers: elevating compliance for SME Lenders

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

Targeted False Positive Screening

Reduce false positives by integrating real-time data and customised risk criteria, enabling teams to focus on genuine threats and streamline client onboarding.

Unveiling Ownership Structures

Leverages global sources to reveal hidden layers of ownership and map out relationships within a business, including beneficial owners who may be otherwise hard to identify.

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Achieve Regulatory Compliance

Ensure compliance with FCA guidelines and maintain regulatory adherence by automating compliance processes and optimising KYC and AML checks.

working on a computer
cashflows

Helping Cashflows provide a seamless onboarding experience and uphold the highest compliance standards.

Cashflows selected NorthRow for our shared values and deep understanding of their unique challenges. The platform’s flexibility provided tailored services that aligned seamlessly while upholding strict control framework policies.

Read their story

Lenders 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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