When it comes to due diligence within the flexible workspace sector, one name has become synonymous with ensuring regulatory compliance: NorthRow.
Since 2012, BCA Partner NorthRow (previously Contego) has been working with workspace owners and operators to help ensure regulatory compliance and identify potential fraud within the flexible space and virtual office sector. In conjunction with the BCA, NorthRow built a customised due diligence platform that runs comprehensive checks on people and companies during the client onboarding and monitoring process.
The BCA continues to work closely with NorthRow, along with law enforcement agencies and regulators, to improve workspace processes and to ensure that operators comply with relevant laws including AML (anti-money laundering) and London Local Authorities Act (section 75).
Many major flexible workspace operators within the UK, including Regus, utilise NorthRow’s services and technology platforms to ensure compliance, and the company has recently expanded operations as part of its global growth strategy.
NorthRow has expanded its real-time verification coverage to over 90 countries, including territories in APAC, Africa, Europe, Latin America, North America and UAE. The increased coverage will help further strengthen NorthRow’s platform in providing Know Your Customer (KYC), Anti-Money Laundering (AML) and identity verification to an increasingly global and complicated world.
Since its inception in 2010, NorthRow has introduced additional data sets and functionality, including ongoing monitoring solutions, to respond to new regulations such as 4MLD -- the European Union's Fourth Anti-Money Laundering Directive.
NorthRow has also added new functionality to help improve and simplify international company monitoring. NorthRow’s platform can track, monitor and alert clients to any changes in international company structures, beneficial ownership or directorships to help ensure ongoing compliance with AML regulation.
Matt Law, CTO of NorthRow, commented: “By integrating NorthRow’s single API, our clients have access to a broad range of international company data and monitoring functionality that can allow them to onboard new clients quickly, seamlessly and confidently whilst expanding their global business footprint.”
Given the increasing awareness, popularity and growth of flexible workspace, it is more important than ever before to ensure compliance and protect your clients, your brand and your reputation from fraud. The BCA works closely with the authorities to highlight the latest threats and dangers to workspace operators, and utilising the services of a trusted BCA Partner like NorthRow adds enhanced protection to keep your business safe, and your reputation watertight.
Learn more about NorthRow’s services at www.northrow.com or contact Richard Ingles on 07973 359208 or firstname.lastname@example.org.