Verify 365, the UK-based eIDV and AML technology platform, is pleased to announce the incredible success of its new platform, “Enterprise”. The platform has been designed to provide law firms, accountants and estate agents with a comprehensive solution for client onboarding and is packed with advanced features that set it apart from the competition.
Money laundering fraud is estimated to be costing the UK billions of pounds each year, while identity fraud is continuing to be one of the fastest-growing crimes in the world. By using Verify 365’s Enterprise platform, law firms, accountants, mortgage brokers and estate agents can ensure that they are providing a secure and reliable service to their clients.
Rudi Kesic, CEO of Verify 365, expressed his satisfaction with the successful launch of the Enterprise platform. He stated, “We are thrilled to see such a positive reception from the legal and estate agency industry in such a short period of time. The launch of the Enterprise platform represents a major milestone for Verify 365, and we are pleased that it has been so well received by the market. The adoption of this technology will play a critical role in transforming the client onboarding journey for law firms and estate agents, making it more secure, efficient, and user-friendly.” He added, “I am confident that the Enterprise platform will continue to drive innovation and set new standards in the industry. The platform represents the future of digital client onboarding and AML compliance and we are proud to be at the forefront of this exciting development.”
It is clear to many that the intense interest in Verify 365’s new Enterprise platform is a clear sign the true value that law firms are placing on safe and innovative technologies. In less than six weeks, over 100 law firms have expressed interest in or signed up for the platform, showcasing the growing demand for advanced eIDV and AML solutions. The speed at which these firms have embraced the platform is a testament to the value they see in Verify 365’s technology and the benefits it can bring to their practices.
Solicitors, accountants, and lawyers are feeling the tight squeeze of the SRA’s (Solicitors Regulation Authority) regulations around their firms, as they are being pressured into meeting regulatory requirements, protect their clients’ personal information, and streamline their processes, and Verify 365’s Enterprise platform offers a solution to these challenges. With its proprietary UK-developed technology, including MyID biometric blockchain identity, SecureSend technology, and DynamicID biometric identity verification, the platform provides law firms with the tools they need to meet regulatory requirements and improve their client onboarding process.
Mev Dzihic, CTO of Verify 365, emphasised the company’s commitment to developing cutting-edge technology in-house. He said, “At Verify 365, we believe in the power of technology to drive change and improve the client onboarding experience. Our new Enterprise platform represents a major advancement in eIDV and AML technology, featuring our own DynamicID biometric identity verification system, address checks, PEPs and sanctions checks, and open banking source of funds verification. We are proud to have developed all of these technologies in-house, which sets us apart from our competitors who simply license their technology from abroad.” Mev added, “By developing our own technology in the UK, we can ensure that we are always at the forefront of innovation and compliance, providing our clients with the most advanced and secure solutions available.”
Verify 365’s new Enterprise platform showcases MyID, a unique biometric blockchain identity system which is an image of the future of secure digital identity. The MyID platform uses advanced biometric technology to create a secure digital identity for clients, ensuring that their personal information remains protected and accessible only by authorised parties. By using MyID, clients can have peace of mind knowing that their information is secure, and their identity is verified.
The platform also includes SecureSend technology, which streamlines the conveyancing process and enables estate agents, lawyers, and mortgage brokers to verify client information once and then share verified reports with other parties involved in the process. The whole conveyancing process becomes simplified, this ground-breaking innovation allows for increased time efficiency and accuracy. The SecureSend technology represents a unique and innovative solution that sets the company apart from its competitors, making it a leader in the legal and estate agency industries.
Azeem Rashid, CMO of Verify 365, added, “Our latest ID verification and AML checks platform, Enterprise, is a game-changer for the industry. With its cutting-edge technology, including our own proprietary technology “DynamicID” for biometric identity verification, instant address checks, PEPs and sanctions checks, and open banking source of funds and analytics, it is the most comprehensive solution available. We are confident that Enterprise will have a significant impact on the industry and provide law firms and estate agents with the tools they need to ensure a secure and reliable service for their clients.”
Suezanne King, Managing Partner at SMQ Legal LLP, one of the first law firms to switch to the Enterprise platform, said, “The team at SMQ Legal was impressed by Verify 365’s commitment to real innovation and fraud prevention. The Enterprise platform is a major step forward in terms of AML checks, identity verifications and client onboarding, and we are proud to be one of the first law firms to adopt it.”
Verify 365 platform is designed to help law firms meet the stringent requirements of regulatory bodies such as the SRA and HM Land Registry Safe Harbour Digital ID Standard. The platform includes a range of features that ensure compliance with these regulations, including identity checks, address checks, PEPs and sanction checks, and open banking source of funds. The platform’s commitment to compliance is a key reason why so many law firms have signed up in such a short period of time. In an industry where reputation and client trust are everything, law firms need a technology partner that they can rely on to help them meet regulatory requirements and keep their clients’ information secure. Verify 365’s platform is that partner, offering a secure and innovative solution that helps law firms meet the challenges of a rapidly changing regulatory landscape.
The new KYB Checks and the importance of UBO for law firms working with global corporations is another key aspect of the new platform. Verify 365 Enterprise provides a full UBO picture, making it easier for law firms to work with clients around the world.
Oliver Tromp, UK Director at Actionstep, said, “We are delighted to be partnering with Verify 365 on the Enterprise platform. The combination of Actionstep’s practice management and Verify 365’s digital client onboarding technology is the perfect solution for law firms looking to streamline their client onboarding process and manage their practices effectively.”
Ardi Melikian, Verify 365 Director for APAC region, said, “We are thrilled with the success of our Enterprise platform, and the positive response from our clients. The eagerness of over 100 law firms to adopt the platform is a clear indication of the positive impact it will have on the legal industry and a bright future ahead for Verify 365 as well as the entire legal sector. The platform represents a major step forward in terms of technology, security, and user experience, and we are confident that it will have a significant impact on the industry both in the UK and Australia.”
Verify 365’s Enterprise platform is a comprehensive AML solution for client onboarding that provides law firms and estate agents with the tools they need to protect against fraud and ensure a secure and reliable service for their clients. With its advanced features and cutting-edge technology, Verify 365 is set to revolutionise the legal industry.