Company: NorthRow
CEO: Andrew Doyle
Website: https://www.northrow.com/
About NorthRow
NorthRow was established in 2010 with the single goal of making a difference to the devastating effects that fraud, and other forms of financial crime, can have on individuals and companies. Today, NorthRow delivers industry-leading software that brings Anti-Money Laundering (AML) compliance and verification technologies into a single platform, accessible anywhere, at any time. The platform facilitates AML and identity checks of companies, people, and documentation to support often complex onboarding and monitoring processes within regulated organisations.
Our commitment to developing a pioneering AML compliance platform has supported our journey to becoming the software of choice for hundreds of compliance teams across the globe. NorthRow gives compliance professionals a competitive edge, transforming them from a cost-centre into the true heroes of every business, shortening time-to-revenue, improving customer experience, and delivering deeper customer insights than ever before – all while reducing the ever-present threat of economic crime.
NorthRow unites market-leading compliance and verification technologies in a cloud-based solution. This empowers compliance teams to make faster decisions, reduce the need for siloed systems and onboard customers in seconds, not days, so that they can contribute to the growth of their business.
With our technology, and integrated information from global registries, industry-leading data sources, and verification services, organisations can vet and verify the entities they wish to do business with – which can span borders, tax systems and regulatory environments.
As time goes on, customer profiles can change dramatically from the beginning of a commercial relationship, increasing the risk of financial crime. NorthRow provides round-the-clock, real-time monitoring of companies and individuals, from minor administrative updates such as a change of address to more significant updates such as new directors, adverse media or a Politically Exposed Person (PEP) becoming involved in a business; active monitoring takes place within the NorthRow platform on an ongoing, daily basis.
As every business has its own definitions of risk in terms of due diligence, our clients can customise their risk profile within the system depending on what they perceive to be high or low risk.
Based on this profile, WorkStation will return an ‘auto-decision’ via a RAG system (Red, Amber, Green) to denote whether they can safely do business with a customer or not, or whether further investigation is required.
As a result, users have access to a full suite of automated functionality that helps them to stay in control of their compliance obligations throughout onboarding, ongoing monitoring, remediation and when the time comes, offboarding.
Industry heavyweights such as CloudPay are using WorkStation to support their AML and wider compliance processes, sharing glowing feedback, having only partnered with NorthRow earlier this year: “We’ve seen significantly shorter validation times – measured in seconds and minutes, rather than in days. We’ve also been able to support our own sales function to move through the AML gateway for quicker and more efficient contracting. This has generated positive feedback from sales and, most importantly, impressed prospective customers.”
Ultimately, NorthRow exists to make financial interactions all around the globe safer and smoother, while fighting economic crime.
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