Tracesmart/Lexis Nexis AML software? Any opinions?

Tracesmart/Lexis Nexis AML software? Any opinions?

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My practise is looking at anti money laundering software and as we are also a payroll bureau we need to do a lot of AML checks. We previously used a different provider, but have been approached by Tracesmart ltd/ Lexis Nexis.

I am aware of their 3 month renewal and have already seen that in the t and c's, but their price per search is very cheap in comparison to the competition.

They are looking at 80p to £1.00 per search for full AML clearance which is at least a 1/4 of what everyone else seems to charge. I couldn't find anyone discussing this here but I am a little worried that there is a catch somewhere.

In a competitive market, I cannot understand why anyone would price them selves so far below the market average, and still be able to give a good service, but maybe I'm too cynical?

So summary, any experiences good or bad of this software please?

Mark

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