Instant AML checks now available to independent schools

AML screening has become easier for independent schools with the rollout of Redwood Collections’ self-service platform.

Before now, independent schools haven’t historically followed one standard route for fee-payer due-diligence. Popular routes include in-house manual checks or sending third parties lists and receiving the resulting intelligence rather than running it directly.

Both can delay access to the information schools need, while third-party processes may also require sensitive fee-payer data to be shared less secure methods, increasing the risk of a data breach.

Designed specifically for independent schools, Parentcheck allows schools to run AML checks directly, providing instant results through one secure, auditable platform.

Screen for wider risks

Checks cover global sanctions and wider criminal or regulatory enforcement data. Identify politically exposed persons and links to restricted organisations or sanctioned assets through corporate ownership networks.

Run checks whenever needed

Parentcheck gives independent schools control over when checks are carried out. Enter individual fee payer details directly into the platform or in bulk through spreadsheet uploads and run checks without submitting a request to an external provider.

Integrate Parentcheck as part of the admissions process or respond at the point information is needed like when concern arises about a payment

Instantly identify potential risks

Each check screens fee payers against trusted sanctions data, providing instant results to decide if further investigation is necessary before accepting fees.

Results are presented through a traffic light colour-system, making it easy to prioritise based on risk-factor.

Each search result can be expanded to show a more detailed view of the match and the risk details, ensuring result accuracy.

Keep fee-payer information secure

Fee-payer details are entered directly into Parentcheck, removing the need to send lists or personal information elsewhere for checks to be completed.

Access is limited to authorised users, allowing schools to carry out due diligence within the platform.

Organised evidence of every check

Parentcheck creates an audit trail of completed checks.

Retain evidence of the searches carried out and the results, making it easier to demonstrate due diligence for bursars and auditors.

Credit-based checks

Operating through a credit-based system, credits can be purchased in advance and used whenever checks are required, keeping spend aligned with the number of searches carried out.

The remaining balance is visible within the platform, making it easier to manage usage. Additional credits are available to purchase when needed.