Fighting financial crime at Tide

Fighting financial crime at Tide

Hello Members,

At Tide, we’re on a mission to help business owners do less banking, and more of what they love. But there’s another very important layer to our mission that you won’t see on our tube ads or marketing promotions – how Tide tackles financial crime.

Above all, our priority is to keep your money safe and ensure that Tide accounts are not being used for illicit activity. Tide employees are trained to understand the risks and spot the signs of different types of financial crime – from fraud and tax-evasion to money laundering and terrorist-financing. The entire team (there are more than 80 of us now!) is up to speed with the trends and tactics used by financial criminals. We combine these human processes with the latest smart technology to detect fraudulent documentation and use machine learning to help us to detect suspicious activity. We strongly believe that as an agile technology company we are well-placed to implement the best solutions and trace anything suspicious quickly.

We don’t do this just because of our regulatory obligations, we feel a moral duty to fight financial crime and think that financial institutions and fintech companies have an opportunity to make a much wider societal impact.

We don’t do this just because of our regulatory obligations, we feel a moral duty to fight financial crime and think that financial institutions and fintech companies have an opportunity to make a much wider societal impact.

We run checks on all applications and usually our members are able to create an account immediately – but we sometimes need to ask for additional details about you and your company which can take a bit longer. This just means we are asking a few more questions that will help us to better understand your business from the outset. We may also be in touch if a transaction doesn’t seem to fit with your normal activity. Just know that we are doing this for your security and to comply with regulations. You can read more about this here.

Tide exists to make business banking easy and accessible but not to those who want to do harm.

Laurence T
Head of Risk

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