CKN Mortgages is a mortgage brokerage run by an expert professional, creating mortgage plans for a variety of clients. This includes sole traders, LLP’s, high net worth clients, limited company directors, contractors and professionals. As a financial services firm, they are regulated by HMRC and therefore are required to meet their AML and compliance obligations which is why they sought SmartSearch’s award-winning AML and compliance solution to help them achieve this.

The Brief

CKN Mortgages were already using a provider for their AML and compliance but encountered a variety of issues and problems surrounding their technology and processes. In particular, certain browsers not working with their services. For example, they experienced issues with using the cameras on their laptops for live pictures, resulting in clients having to use their mobiles and find a way to save and send pictures from there rather than their laptops which was a much more cumbersome and inefficient process.

CKN Mortgages realised they needed an all-in-one solution to fulfil their anti-money  laundering (AML) and compliance obligations. This would reduce the initial costs of their current onboarding process, eliminate labour-intensive tasks and save crucial time on their compliance.

Furthermore, they needed a solution that would ensure the reduction of previous incorrect information, a reduction in false positives and to give them full confidence in the reliance of their partnered business. Before discovering SmartSearch, CKN Mortgages spent an average of 3-4 hours a week on meeting the current Anti-money laundering (AML) Obligations. With the utilisation of SmartSearch’s solution, this time was more than halved, therefore saving the business valuable time which can now be spent elsewhere in the organisation.

The Solution

By utilising SmartSearch’s next-generation AML and Compliance solution the business was able to achieve their goals, save time and improve their internal processes. By taking advantage of SmartSearch’s UK individual checks which work in real-time, delivering the most accurate KYC checks on the market in just 2 seconds, with enhanced due diligence being run on any matches automatically, the company has stated this solution is very easy to use and very swift, and easy to navigate.

CKN Mortgages are also benefitting from SmartSearch’s automated platform which uniquely equips the business to carry out sanction searches and checks for PEPs and RCAs. If SmartSearch’s software finds a match, it will filter out false positives, and alert the company once the match has been confirmed so they can have peace of mind their compliance obligations are been met.

The Results

SmartSearch provided CKN Mortgages with their own account manager, full training on how to use the system and with all-round guidance and added services throughout their contract at a reduced cost than their last provider. This reliable and valuable service which is provided by SmartSearch generated CKN Mortgages with a better cost-effective use of time, producing an overall improved and advanced internal process for the company.

In conclusion, since using SmartSearch’s services and technology CKN Mortgages has successfully minimised their overall time spent on meeting anti-money laundering (AML) obligations and compliance processes. With the employment of the varying solutions and support offered by SmartSearch’s award-winning services, CKN Mortgages are now benefitting from an improved process which has reduced errors and improved accuracy. This has enhanced the overall onboarding process with the reduction of manual time-consuming and costly steps with a considerable advancement in the internal processes, and cost efficiency whilst exceeding their initial expectations.

“I would not hesitate to recommend SmartSearch. The solution is very easy to use, and very swift and easy to navigate. SmartSearch also has excellent, knowledgeable and competent staff who are always happy to help.”

- Chirag Patel, CKN Mortgages.