Enhancing Watchlist Screening Data, Smartsearch Implements LSEG's World-Check One Solution

Enhancing Watchlist Screening Data, Smartsearch Implements LSEG's World-Check One Solution

SmartSearch, a leading UK-based digital compliance and anti-money laundering (AML) solutions provider, has announced the integration of LSEG's World-Check One solution into its watchlist screening offering. This integration significantly strengthens SmartSearch's AML and Know Your Customer (KYC) capabilities, providing a comprehensive, up-to-date risk screening solution.

Improved Risk Detection and Broader Coverage

The integration of World-Check One brings a leading global database with detailed intelligence on sanctions, politically exposed persons (PEPs), adverse media, and other risk factors essential for effective AML and KYC checks. Combining World-Check One with SmartSearch’s existing screening tools, such as the Dow Jones Watchlist, enables more thorough and accurate identification of suspicious entities and individuals.

Enhanced Regulatory Compliance

The integration helps firms meet increasingly stringent regulatory requirements in digital compliance by leveraging a trusted, curated intelligence source. This ensures that SmartSearch's clients can confidently comply with KYC and sanctions enforcement regulations.

Support for AI and Behavioral Analytics

As SmartSearch prepares for challenges in digital compliance by incorporating AI, biometric verification, and secure data hosting, World-Check One’s integration complements these advanced technologies with authoritative risk data.

Streamlined Compliance Workflows

Embedding World-Check One into SmartSearch’s platform means compliance teams can perform robust watchlist screening within a single interface, increasing operational efficiency.

Key Benefits

• Improved risk detection: World-Check One is a leading global database with detailed intelligence on sanctions, PEPs, adverse media, and other risk factors essential for effective AML and KYC checks.
• Broader coverage and accuracy: Combining World-Check One with SmartSearch’s existing screening tools enables more thorough and accurate identification of suspicious entities and individuals.
• Enhanced regulatory compliance: The integration helps firms meet increasingly stringent regulatory requirements in digital compliance by leveraging a trusted, curated intelligence source.
• Support for AI and behavioral analytics: As SmartSearch is preparing for challenges in digital compliance by incorporating AI, biometric verification, and secure data hosting, World-Check One’s integration complements these advanced technologies with authoritative risk data.
• Streamlined compliance workflows: Embedding World-Check One into SmartSearch’s platform means compliance teams can perform robust watchlist screening within a single interface, increasing operational efficiency.

Protecting Businesses from Financial Crimes

Fraser Mitchell, Chief Product Officer at SmartSearch, stated that businesses in regulated sectors could face unlimited fines, jail time, and unwittingly facilitate financial crimes if a criminal slips through their AML checks. The enhanced solution will provide SmartSearch's clients with comprehensive adverse media monitoring, advanced fuzzy matching for name variations, real-time monitoring capabilities, and access to data from over 100,000 reputable sources across 66 SIP categories.

Safeguarding Against Illicit Activities

The integration of LSEG's solution with SmartSearch will help SmartSearch's clients protect themselves from potential involvement in drug smuggling, human trafficking, and terrorism. LSEG's World-Check One solution is designed to match the sophisticated, ever-evolving methods used by financial criminals to carry out and conceal their illicit activities.

Expanded Data Coverage

The integration of LSEG as a data provider expands SmartSearch's data coverage, joining Dow Jones Watchlist, Equifax, Experian, Transunion, biometric, and AI-driven technology. This integration strengthens SmartSearch's platform, making it even more effective in ensuring the onboarding of legitimate customers and monitoring their status throughout the relationship.

Simplifying Customer Onboarding and Ongoing Monitoring

The enhanced solution will simplify customer onboarding and ongoing monitoring of their status, enabling SmartSearch's clients to grow their business and win customers through trusted identities. Teodora Christova, Global Director of Partnerships at LSEG, mentioned that both LSEG and SmartSearch share a vision to ensure convenient compliance and frictionless customer journeys.

In conclusion, the integration of LSEG's World-Check One solution into SmartSearch’s watchlist screening offering significantly enhances digital compliance and AML capabilities, providing a comprehensive, up-to-date risk screening solution. This integration bolsters SmartSearch’s AML and KYC screening processes with World-Check One’s extensive global data on heightened risk individuals and entities, improving the identification and management of potential financial crime risks.

1. The integration of LSEG's World-Check One solution into SmartSearch’s watchlist screening offering not only strengthens its digital compliance and AML capabilities but also bolsters its AML and KYC screening processes with World-Check One’s extensive global data on heightened risk individuals and entities.
2. By leveraging World-Check One's detailed intelligence on sanctions, politically exposed persons (PEPs), adverse media, and other risk factors, financial businesses can confidently comply with KYC and sanctions enforcement regulations, thereby ensuring seamless regulatory compliance.

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