Company Research Report: NorthRow
Company Overview
- Name: NorthRow
- Mission of the Company: NorthRow aims to revolutionize how regulated organizations manage risk by digitally transforming their client onboarding, monitoring, and AML compliance processes.
- Founded Year and Founders: No information is available.
- Key People:
- Andrew Doyle - Executive Chair & CEO
- Anton Zdziebczok - Chief Strategy & Product Officer
- Dan Schonfeld - Chief Finance Officer
- Chris Bourne - Head of Marketing
- Luca Redcliffe - Chief Technology Officer
- Richard Evans - Head of Customer Success
- Joe Morris - Head of Sales
- Sarah Clark - Head of People & Culture
- Jodie Lewis - Head of Platform Operations
- Headquarters: 85 Great Portland Street, First Floor, London, W1W 7LT United Kingdom
- Number of Employees: No information is available.
- Revenue: No information is available.
- What is the company known for: NorthRow is known for providing automated global AML compliance management software, including KYB, KYC, and ID&V processes to help organizations make faster decisions and streamline customer onboarding.
Products
Digital Identity Verification
- Description: Verifies the identities of individuals to ensure that they are who they claim to be.
- Key Features:
- Biometric authentication
- Data security integration
- Use of trusted data providers
Individual Onboarding (KYC)
- Description: Ensures that all individuals on-boarded meet Know Your Customer (KYC) compliance requirements.
- Key Features:
- High match and pass rate of 98%
- Integrates with current systems and processes
- Reduces abandonment rates to under 4%
Business Onboarding (KYB)
- Description: Facilitates the seamless onboarding of businesses by verifying their legitimacy and compliance status.
- Key Features:
- Conducts checks in seconds
- Comprehensive risk assessment
- Automation of manual processes for higher efficiency
Monitoring
- Description: Ongoing surveillance to detect any suspicious activity or changes in compliance status.
- Key Features:
- Continuous monitoring
- Dynamic risk assessments
- Integrates with compliance software
Right to Work
- Description: Verifies that individuals have the right to work in a specified jurisdiction.
- Key Features:
- RemoteVerify for remote checks
- Compliance with the latest Home Office guidelines
- Secure document storage
Recent Developments
New Products Launched
- WorkStation: A unified interface for managing compliance and verification processes.
- Key Features:
- Combines multiple compliance technologies
- Accessible from anywhere at any time
Technological Enhancements
- Automation Improvements:
- Enhanced the automation of end-to-end compliance processes
- Improved efficiency in handling high-risk cases
- Integration Capabilities:
- Introduced seamless API integrations with existing compliance systems
Partnerships
- Open Banking Partnership:
- Partnered to deliver highly secure onboarding processes.
- Utilizes both automated identity checks and the added security of face-to-face verification.
Certifications and Accreditations
- ISO 27001 Information Security Management
- DCMS Certified for Right to Work checks
- Innovate Finance Membership
- ICA Membership
- Cyber Essentials Plus Certification
- Silicon Valley Comes to the UK Recognition
- BusinessCloud RegTech50 Recognition
- TechRound SaaS66 Listing
- Tackling Economic Crime Awards Finalist
Client Stories
Case Study: Hargreaves Lansdown
- Benefits: Automated end-to-end compliance processes saved valuable time and resources, particularly focusing on high-risk cases.
Case Study: CloudPay
- Benefits: Significant reduction in validation times, facilitating rapid growth and supporting ambitious future plans.
Case Study: Open Banking
- Benefits: Combines automated identity checks with face-to-face verification for secure customer data management.
Case Study: Cashflows
- Benefits: Faster and seamless onboarding experience while adhering to high compliance standards.
Case Study: Regus
- Benefits: Robust customer onboarding solution met and exceeded compliance requirements while improving the speed of onboarding processes.
Conclusion
NorthRow's SaaS solutions are critical in aiding firms across various industries to adopt modern, efficient, and compliant approaches to risk and client management. The company continues to innovate in the compliance software landscape, consistently delivering and enhancing their product lineup to better serve their clients' needs.