SmartSearch individual checks give users the option to include additional documentation which will then be verified alongside the electronic data. We also have a fully-integrated app which uses OCR to scan the information on a driver’s license or passport and then runs a validation check using the information it has read. All results are delivered to your device in seconds and are centrally stored on the main platform.
Yes, if you switch to SmartSearch for your Customer Identification Program and BSA requirements, you don't need to use identification documents such as driver’s licenses, social security cards, and passports. All you need is the person’s name, address, date of birth and social security number and SmartSearch will automatically run a full AML check including Sanction and PEP Screening.
The Bank Secrecy Act states that in order to perform “Customer Due Diligence” you must “verify” using documents or information obtained from a reliable source, that is independent of the person whose identity is being verified. Non-documentary methods can be used as part of a client’s risk-based procedures outlined in the Customer Identification/ BSA/AML Program.
SmartSearch uses multiple independent data sources via Experian, plus all individuals are automatically screened against worldwide Sanction and PEP lists and enhanced due diligence is automatically triggered for any matches. SmartSearch is always updated in-line with any changes in regulation, so you can be confident you are fully compliant for the life of your contract.
SmartSearch is the only Customer Identification Program (CIP) that can verify U.S. and international citizens from one place while also screening & monitoring for Sanction and PEPs. Most AML and CIP solutions only provide one of these elements, either they verify identity, screen for Sanctions and PEPs, or offer ongoing monitoring. SmartSearch does all this and more, making our platform a unique Customer Identification program; an essential all-in-one solution for your compliance needs.
SmartSearch is fully compliant with The Gramm-Leach-Bliley Act (GLB Act or GLBA) in the US. We are also GDPR compliant in the UK and Europe, and when processing PII we are compliant with the applicable state-level legislation.
One of the unique features of SmartSearch is that once you are a customer of ours, we can guarantee you will never need to upgrade your solution. All users have access to the same platform which is continually updated to ensure it meets U.S. and global AML requirements, meaning you never need to upgrade to remain compliant.
SmartSearch is a solution developed to provide clients with the means to comply with the requirements of the BSA and the US Patriot Act. The regulations specify that financial institutions may independently verify customer identity through information obtained from credit bureaus and third-party providers.
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