SME News Greater London Enterprise Awards 2024/ 30 Pioneering RegTech Provider of the Year 2024 KYC, or Know Your Client, is a standard set of processes that allows financial institutions and consultancy companies to confirm the identity of the organisations and individuals they do business with, ensuring that all operations are legal. Effective KYC is crucial, as it protects companies from shady business and illegal activities. smartKYC is the world’s most advanced enterprise solution, designed to automate the KYC due diligence process. Here, we speak with Chief Operating Officer Hugo Chamberlain, following smartKYC receiving its title in the Greater London Enterprise Awards 2024. Founded in 2014, smartKYC promises that its innovative solutions will effectively free up man-hours and human intelligence in organisations when undergoing KYC due diligence, allowing the human minds to focus on important decision-making. Instead, smartKYC proposes its automated solution, a fantastic fusion of advanced artificial intelligence, linguistic and cultural sensitivity, and deep domain knowledge. Together, these features have allowed smartKYC to set new standards for KYC quality, transforming productivity and hardwiring compliance conformance for its clientele. “smartKYC applies artificial intelligence to extract precise facts from vast corpuses of open source intelligence, including the internet, deep web, news, archives, watchlists, corporate databases and clients’ internal data sets,” Hugo explains, “All of this happens at speed and at scale, creating new possibilities such as straight through processing, batch remediation, and continuous risk monitoring.” Since its inception, smartKYC has reached considerable success, which is largely in part to its most innovative feature: robust adverse media screening capabilities. Regardless of the language, source, or the structure of the available information, smartKYC’s cutting-edge technology can understand and report upon the true meaning of the information. This solution is traditionally used to screen negative views or detrimental information about individuals or organisations, which enabled banks and financial institutions to conduct continuous monitoring and risk mitigation throughout the client lifecycle. However, the innovative smartKYC is beginning to roll out the same risk monitoring concepts across other markets and risk classes, further demonstrating exactly why smartKYC is leading the market. Further proving its ingenuity, smartKYC’s latest product, smartEYE, offers a groundbreaking, perpetual KY “X” solution. Hugo explains that in this instance, the X is interchangeable and stands for any associated party, including “C” for customer, “S” for supplier, or “A” for affiliate. “This advanced tool monitors 2.6 million web sources in 16 languages,” he elaborates, “providing a comprehensive solution for global 24/7 risk vigilance in adverse media. smartEYE analysis and filters information, delivering only the most relevant and actionable insights. In contrast to traditional onboarding procedures, smartEYE offers continuous monitoring of a customer’s identity and risk profile and provides timely alerts upon the emergence of potential risks, empowering quick and decisive action.” In order to facilitate such trailblazing concepts across the company, smartKYC has built an internal culture upon the pillars of innovation, collaboration, and excellence. The company strives to foster an environment in which every team member feels valued, empowered, and motivated to contribute their best work. This encourages employees to work in alignment with smartKYC’s mission of exceeding client expectations with cutting-edge KYC solutions. To further drive this mission, smartKYC ensures that all employees possess strong technical skills. The company seeks individuals with proficiency in the latest technologies, a keen understanding of regulatory requirements, and expertise in the fields of KYC, linguistics, artificial intelligence, and technology. Employing likeminded individuals who share the same vision for the future is crucial to any effective company, as evidenced by the successes of smartKYC. Moving forward, smartKYC plans to continuously improve upon its services through a strategic combination of short and long-term enhancements. These plans include a focused expansion of the company’s language capabilities, technical enhancements to alreadyexisting systems, in addition to the creation of more seamless, intuitive user journeys. “We have an ambitious roadmap ahead,” says Hugo, “one that uniquely combines feature enhancements with cutting-edge innovations to stay ahead in the market. Our product development roadmap is meticulously crafted, drawing from a rich pool of user feedback, leveraging our extensive internal domain expertise, and anticipating future market requirements to ensure we deliver the best possible solutions for our users. All our plans focus around one purpose: ensuring we remain at the forefront of the industry.” With such a distinct growth strategy in mind, we at SME News have no doubt that the future of smartKYC will be bright. The company strives for excellence in everything that it does and demonstrates a clear understanding of how to continually lead the market, through remarkable innovation and high rates of client satisfaction. It is for this ambitious display that smartKYC has earned the title of the Pioneering RegTech Provider of the Year 2024. Contact: Hugo Chamberlain Company: smartKYC Web Address: https://smartkyc.com
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