Anti-money-laundering pioneers SmartSearch this Sunday achieved 15th position in the Sunday Times Profit Track list. The list recognises the British companies with the fastest-growing profits over the last three years.
SmartSearch’s success comes on the back of an increase of more than 80% in profits over the past year, and a sixfold rise over the three-year period looked at by the Sunday Times.
The Yorkshire firm had previously featured at number 86 in the paper’s 2019 Tech Track list, which focuses on the technology sector, whereas the Profit Track list includes all sectors. This is the 21st annual Profit Track run by the Sunday Times and they are launching this one as their Covid-19 edition.
SmartSearch is the UK’s leading provider of anti-money-laundering software. With the introduction of the 5th EU Money Laundering Directive and its transposition into UK law in January, its cutting-edge software has never been more in demand.
It has responded to the spread of the coronavirus by introducing a Rapid Response Service, enabling firms that previously relied on physical documents to verify customer ID to get set up on its comprehensive digital platform in less than 48 hours.
The latest accolade for SmartSearch follows hot on the heels of last month’s Financial Times list of the fastest-growing European companies, which placed SmartSearch at 596 out of 1000, a rise of more than 300 places on the previous year. The FT list also placed SmartSearch in the top 20 European FinTech firms.
John Dobson, CEO at SmartSearch said, “We have managed exponential growth over the past few years and it is wonderful to see this recognised in yet another highly prestigious league table, clearly showing that we are one of the top growing companies in the UK.
“Never before has electronic verification and anti-money-laundering software been more important. The lockdown due to coronavirus has escalated the need for lawyers, accountants, estate agents, banks, building societies and financial advisers to carry out electronic checks on their customers.
“The fraudsters do not stop just because we are in a lockdown situation and SmartSearch has created a solution that is quick, affordable and almost instantaneous – as well as being significantly more reliable than paper checks. A fully digital AML solution is the only way for firms to stay fully compliant while working remotely.”