NACFB partners with SmartSearch

Mortgage Introducer

December 4, 2018

The NACFB has partnered with SmartSearch to provide its members with preferential access to the anti-money laundering platform.

The partnership comes in response to increased demand from NACFB members for an effective way to conduct due diligence checks on both individuals and businesses.

Graham Toy, chief executive at the NACFB, said: “We work hard to ensure our brokers receive a first-class proposition with their membership, including comprehensive compliance support. Through implementing SmartSearch we are able to provide them with a world class resource for this important element of compliance.”

“The feedback from brokers who already use the platform is overwhelmingly positive. These brokers have told us that SmartSearch is an efficient and effective way of conducting background searches. We remain committed to making the lives of commercial brokers easier, and we look forward to continuing to provide innovative solutions like this, to do just that.”

The SmartSearch platform uses data partners Experian, Equifax, Dow Jones and Companies House to conduct searches and checks on individuals and businesses both across the UK and the international markets.

The system allows brokers to access the data remotely with SmartAML, SmartSearch’s app.

The SmartSearch platform also delivers warning email alerts, to allow those responsible for AML compliance to keep a watching brief over users, and ensures that due diligence is undertaken if PEPs or Sanctions warnings are highlighted.

The Association said it has negotiated preferential rates for all NACFB members, who we will be invoiced quarterly based on usage.

John Dobson, chief executive of SmartSearch, said: “With fraud on the rise and the fifth money laundering directive now needing to be implemented, there has never been a time when AML services have been in greater demand.

“Our platform makes it quick, easy and cost effective to conduct the most robust range of searches in the UK not only on individuals but also on companies too.

Dobson added: “We are therefore pleased that the NACFB is making our anti-money-laundering services available to its members, enhancing the exceptional level of support they already provide for their brokers.

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