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SmartSearch adds facial recognition to AML platform

Jessica Bird

May 5, 2020

facial recognition

Anti-money laundering (AML) software provider SmartSearch has added a facial recognition feature to its digital AML platform to help clients requiring visual confirmation of customer ID.

This aims to tackle the issue that current travel and social distancing restrictions mean prospective new customers are unable to present ID documents and proof of address in person.

SmartSearch’s electronic verification (EV) platform allows clients to perform the necessary know you customer (KYC) and AML checks in a matter of seconds.

Screening against global sanctions and politically exposed persons lists is included as standard, along with ongoing daily monitoring.

Because this can be done without any physical documents, the process can be carried out remotely.

By incorporating facial recognition, SmartSearch is providing an additional layer of assurance via visual ID verification.

John Dobson, CEO at SmartSearch, said: “We are here to make our clients’ lives easier, and give them peace of mind not only that they are meeting their due diligence responsibilities, but also guarding against unscrupulous criminals.

“The risk of a firm being targeted by money-launderers varies, but the impact if it fails to detect and report any wrongdoing can be devastating.

“Electronic checks using credit reporting data will bring to light any discrepancies in a client’s personal history and clearly flag up where further action is required.

“Facial recognition is the icing on the cake, giving businesses that crucial extra reassurance that the person they are dealing with is on the level.

“With many elements of social distancing likely to remain in place for some time to come, doing this in person, face-to-face, is no longer possible.

“Our facial recognition feature means our clients can do everything remotely – protecting their businesses from fraudsters and their staff from exposure to COVID-19.”


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