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SmartSearch climbs 31 places in Yorkshire Fastest50 to be named 6th fastest growing company in the region

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Award-winning anti-money laundering company SmartSearch has been named as the 6th fastest growing company in Yorkshire, up 31 places from last year.

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Over the past six years, turnover at SmartSearch has increased 20-fold, from £379,000 in 2012 to £7.9m in 2018. The longer-term aim is for turnover to hit £20m by 2020.

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In 2018, SmartSearch was 37th in the Fastest50, and in just a year, has climbed a staggering 31 places to be named 6th, and also, 2nd in the small company category.

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Earlier this year, SmartSearch was also named in the FT1000, as one of the fastest growing companies in Europe, and in November 2018 was included in the RegTech 100, which recognises the world’s most innovative providers of RegTech solutions.

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SmartSearch delivers AML searches and verifications on individuals and businesses across the UK and international markets – including screening for politically exposed persons (PEP). The system performs a ‘SmartSearch’ allowing clients to meet their AML, Customer Due Diligence (CDD) and Know Your Customer (KYC) compliance obligations all in one place.

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It is used by more than 3,100 businesses across the world, including 25% of the UK’s top law firms and one in three top UK accountancy firms, with around 50 new clients joining each month.

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James Dobson, marketing director at SmartSearch says, “Money laundering is on the rise, and fraudulent documents are getting more and more sophisticated. As a result, regulated businesses are looking for failsafe solutions to meet their compliance obligations and our platform provides that.

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“We currently have more than 35,000 users through more than 3,100 clients, and with the 5th money laundering directive stipulating that identity checks should electronic wherever possible, the demand for our services only going to increase.”

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But despite its rapid growth, SmartSearch is still very much a local family business.

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“We are a Yorkshire business; our staff are just as important as our clients and our success is creating local jobs and bringing prosperity to the region and helping to drive the local economy.

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“We are absolutely delighted to have been recognised for our growth for the second year running by Yorkshire Fastest 50.”