Automate Ongoing Company Monitoring
NorthRow provides a single API solution to check and monitor your clients on an ongoing basis, we can monitor changes and status updates in corporate entities, company directors and beneficial owners and much more.
We check against multiple global and domestic databases in one go. Our solution ensures you have access to the highest-quality data and the most innovative solution on the market to maximise efficiency, improve client experience and mitigate your business risk.
Why You Need to Continually Monitor Your Clients?
It is not enough to perform comprehensive anti-money laundering (AML) checks during the initial client onboarding phase, it is critical that you continually monitor your clients for any company changes or status updates to ensure compliance with the 4th Money Laundering Directive (MLD) and the upcoming 5th MLD, which will come into effect in January 2020.
Your clients often never remain the same. Companies can become bankrupted, there can be changes in ultimate beneficial owners or directors, and new sanctions can be imposed. Although you have spent time and money ensuring compliance for initial client due diligence, if you do not monitor these clients on an ongoing basis, you could be at risk of providing services to insolvent companies and sanctioned individuals, which is a great reputation and financial risk.
NorthRow can help reduce your business risk by proactively monitoring everyone of your clients and alerting you to changes that might increase your exposure.
Unlike our competitors, for UK companies, we not only tell you of a change in directors or beneficial ownership, but also the name of the new director or owner, which significantly reduce administration costs and improves efficiency.
Operate in the knowledge that your business is employing robust due diligence measures throughout your client relationship. Download NorthRow’s company monitoring overview document to learn exactly what we can monitor.
International Company Monitoring
Monitoring multiple clients in different jurisdictions across different territories is a considerable challenge.
At NorthRow we have added new functionality to help improve and simplify international company monitoring for our clients. We have increased our international data coverage and the company status/events or changes that we can now track, monitor and alert you to.
Our international risk monitoring capabilities ensure that you are informed of any activities which could cause a breach to your supply chain (or non-compliance), enabling you to react quickly to problems before it’s too late, whilst helping to ensure your business is continually compliant with it’s AML regulatory obligations. Download our international company coverage overview to learn more.
Real-Time Alerts - Monitor Clients for Ongoing Changes
NorthRow will alert you via email or on our management portal, clear case management instructions so you can prioritise and review risks and arrange enhanced due diligence.
All our clients can tailor their monitoring and risk criteria so that they are only alerted to risks that matter to their business. We will remember what risks have already viewed and will only show new risks and relevant to our clients.
Watch demo video to learn more about how our API works.
Review Matches and Manage Cases
Review potential matches quickly and easily with our intuitive platform and richer profiles with consolidated summary profiles, pictures and relevant articles
Manage cases, team workflow and maintain your audit trail in the platform, whilst syncing seamlessly with your internal systems via our single API.
Conduct deeper due diligence into the entity through our media sources or managed service to gain an understanding into the level of risk, connections, source of wealth, etc.
How Can You Use NorthRow?
In a complex regulatory environment an AML solution that is flexible, comprehensive, and that provides user control over rules and thresholds, is vital. NorthRow offers a range of flexible options including a SaaS application and a Single API.
Depending on your client onboarding workflow, you can choose the option that will best serve your business needs, or you can choose a hybrid option of both on-site and SaaS solutions.
NorthRow’s Single API: NorthRow’s single API can integrate easily with your existing online forms, and can check a variety of international ID documents including; Passports, Biometric Residence Permits (BRPs), Visas and National ID cards.
SaaS Application: NorthRow provides a SaaS App in addition to its Single API. Compliance teams can use the application to review checks, to download PDF reports and to add notes for audit & case management. All data is secure and user account access requires two-factor authentication ensuring security giving the client peace of mind.
Key Clients Include
"By integrating NorthRow’s single API, our clients have access to a broad range of international company data and monitoring functionality that can allow them to onboard new clients quickly, seamlessly and confidently whilst expanding their global business reach".
Matt Law, CTO - NorthRow