AI-enabled technology to automate third party risk intelligence collection and to identify and contextualise opportunity
Politically exposed persons represent the highest-risk client category in AML compliance — and, for many private banks, among the most commercially attractive. Managing that tension is one of the defining operational challenges in compliance today. At the heart of it sits source of wealth verification.
Read MoreAdverse media monitoring is meant to detect change. Yet in many organisations, monitoring alerts often feel repetitive. Analysts repeatedly review the same stories, revisit the same allegations, and document the same risks. The problem is simple: not every alert represents new risk.
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If you work in compliance, KYC, or financial crime, you will encounter the terms Source of Wealth (SoW) and Source of Funds (SoF) repeatedly — often in the same breath. They sound similar. They are not the same. Conflating them is one of the most common documentation errors made during enhanced due diligence reviews, and it is the type of error that draws regulatory attention.
smartKYC, the AI-native platform for KYC, AML, and due diligence intelligence, has been named a finalist in two categories at the prestigious UK FinTech Awards 2026: RegTech of the Year and WealthTech of the Year.
Source of wealth verification is one of the most scrutinised areas of AML compliance and one of the most commonly done wrong.
We are proud to announce that smartKYC has been shortlisted in two categories at the 2026 National Technology Awards:
Recognition Highlights smartKYC’s Leadership in Client Onboarding, Financial Crime Prevention, AI-Driven Compliance and Regulatory Innovation.
High-profile debanking cases involving Donald Trump and Nigel Farage highlight a growing fault line in financial crime compliance: how institutions interpret and act on adverse media and reputational risk. While regulators expect proactive risk management, there is no universal definition of what constitutes “adverse,” leaving banks to apply subjective internal frameworks. As political scrutiny intensifies, inconsistent or poorly documented judgements around reputational risk can quickly escalate into legal, regulatory, and public controversies.
As financial crime risks intensify and regulators demand proof over policy, 2026 is set to be a defining year for KYC. Signals from FATF, the FCA and the EBA point to deeper scrutiny of onboarding quality, beneficial ownership, governance and the effective use of technology across the customer lifecycle.
Adverse media screening has evolved far beyond simple name checks against search engines. In today’s regulatory and reputational risk environment, an effective adverse media screening system must be intelligent, multilingual, explainable, privacy-aware, and continuous.
As 2025 comes to a close, it is worth reflecting on a year defined by major regulatory shifts, rapid technological evolution, and significant milestones for smartKYC. Across global compliance, expectations continued to rise, driving firms towards more automation, multilingual intelligence extraction, and perpetual monitoring. Against this backdrop, smartKYC experienced one of its strongest and most transformative years to date.
The UK legal profession is entering a very different era of anti-money laundering (AML) regulation. With the Financial Conduct Authority (FCA) becoming the sole AML and counter-terrorist financing (CTF) regulator for professional legal services replacing the Solicitors Regulation Authority (SRA), law firms will soon be held to the same expectations that banks have lived with for years.