Anti-money laundering software firm, SmartSearch, has announced the addition of TransUnion as an identity check partner.
TransUnion is a credit information and insights company that receives millions of data records each month from numerous sources to ensure people are reliably represented in the marketplace.
Last year, SmartSearch’s digital compliance solution helped the company accelerate its recurring revenues by 22% to £17.2m. It also carried out five million searches worldwide for more than 52,000 users last year.
SmartSearch offers electronic verification and a digital compliance platform using global data partners Experian, Equifax, and now TransUnion. The new partnership will add TransUnion’s consumer records from over 30 countries to the SmartSearch Know Your Customer suite of identity, business, and sanctions checks.
“Adding TransUnion’s data to our armoury means we can further safeguard our clients against the financial and reputational consequences of money laundering and sanctions breaches – and we can also help them to drive efficiencies, save costs and transform their own customer journeys,” said SmartSearch CEO, Guy Harrison.
Director of partnerships at TransUnion in the UK, Adam Hancox, added: “We’re excited to have partnered with SmartSearch to be able to assist their customers in making more accurate identity decisions, and to minimise fraud and money laundering risk.
“By proactively identifying risky transactions and fraudulent devices which may have been connected to account takeover and money laundering, businesses can reduce operational expenses and build trust with their customers.”
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