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Fraud detection software
NVM invested £1.5m development capital.
NorthRow (formerly Contego) provides an automated compliance solution across a wide range of industries, helping organisations in the property, banking, financial services and public sectors to gain a full understanding of their clients, customers and employees by automating onboarding, monitoring and data enrichment processes, and providing complex, real-time compliance and fraud checks. Its comprehensive software platform enables customers to improve the operational efficiency of their compliance processes, and minimise operational costs, helping to reduce risk when dealing with people, companies and identity documents. NorthRow performs a wide array of screening, verification and vetting assessments including: Know Your Customer (“KYC”); Anti Money Laundering (“AML”); “Right to Work” checks; “Right to Rent” checks and Counter-Party Risk Management.
The company operates in an attractive niche of the Regulatory Technology (“RegTech”) market which is estimated to be worth $2 billion [globally] and is expected to grow at over 14% per annum. Demand is being driven by additional regulation, such as GDPR and MiFID II, and by increased enforcement that is creating additional complexity and operational costs for businesses, as well as significantly raising the risk of financial penalties and reputational damage.
NorthRow was founded in Oxfordshire by CEO Adrian Black in 2010 with a focus in identity and fraud prevention and has recently become established in the City of London. In 2016 NorthRow acquired proprietary technology conceived by specialist immigration law firm Davison Morris and offers an integrated enterprise solution recognised as an industry leader.