SmartSearch

History and Founding

SmartSearch first launched an electronic AML solution in 2004, pioneering electronic verification before it became a regulatory standard. The company was formally founded in 2011 by Martin Cheek and John Dobson in Ilkley, West Yorkshire. It quickly established a reputation for reliability and innovation, and has since grown from a start-up into a leading provider of digital compliance services.

Business Model and Products

The company generates revenue through subscription-based access to its compliance platform, which includes several key products. The flagship SmartSearch CIP (Customer Identification Program) offers identity verification, sanction/PEP screening, ongoing monitoring, and enhanced due diligence for individuals and corporations. TripleCheck layers identity verification, facial recognition with liveness detection, and digital fraud checks into a single workflow. In 2025, SmartSearch launched a Source of Funds (SoF) tool developed with fintech specialist Armalytix, helping firms verify the provenance of client funds. Other products include a mobile app for remote checks, a retrospective service for back-checking existing clients, an ongoing monitoring solution that re-screens customers daily against the Dow Jones WatchList, and a business reporting service that validates corporate structures and identifies ultimate beneficial owners.

Market Position and Competitors

SmartSearch is a major player in the UK regtech market, with over 1,000 property firms, one in two of the top 100 UK accountancy firms, and one in three of the top 200 UK legal firms using its services. The company reports approximately 20% annual growth between 2020 and 2023. Its key differentiator is the triple-bureau data agreements with Equifax, Experian, and TransUnion, which provide high match rates. Competitors include other AML/KYC platforms such as Onfido, ComplyAdvantage, and LexisNexis Risk Solutions.

Partnerships and Recent Developments

In 2024, Triple Private Equity made a majority investment in SmartSearch, enabling further product development and leadership expansion. The company strengthened partnerships with legal practice management firm Clio and mortgage technology provider Twenty7tec. In early 2025, SmartSearch expanded its executive leadership team, appointing Phil Cotter as CEO, Stuart Morris as CTO, Paul Eddie as CRO, Fraser Mitchell as CPO, Collette Allen as Chief Transformation Officer, and Jo Jones as CFO. Claire Elcock continues as Chief People Officer. The company also launched the Source of Funds tool and has been active in integrating its platform via API into existing systems.