A new strategic partnership has been announced between Index Property Information, the leading provider of conveyancing searches, compliance reports and workflow solutions, and the innovative technology company behind the Verify 365 client onboarding platform with digital AML checks.
The new partnership will provide law firms with advanced capabilities for end-to-end optimising of their conveyancing workflows and improved AML compliance.
Another exciting aspect of the partnership gives Verify 365’s clients access to Index searches, via the Verify 365 dashboard.
Rudi Kesic, CEO at Verify 365, said: “We’re thrilled! This partnership will give hundreds of law firms, from the Index client base, access to our cutting-edge digital onboarding solution, which is exciting for us and for those law firms too.
“Since the soft launch of the partnership a few months ago, the take up rate has blown us away. Index’s clients are business and tech-savvy and immediately able to see the benefits our Verify 365 solution has over other providers.
“Superior usability and automation, increased efficiency, reduced costs and being able to provide an even better client experience are mentioned to us all the time, as well as the all-important enhanced compliance we offer.”
Regulated law firms are required to comply with the Solicitors Regulation Authority AML regulations to prevent fraud, and one of the key requirements is to conduct various checks on clients, including ID checks, address checks, PEPs and sanctions checks, and source of funds checks.
To ensure compliance, law firms are now turning to technology to automate this process and this is where the Verify 365 platform has an advantage.
Verify 365’s latest technology, the “Enterprise Platform” has several cutting-edge features, including a UK-developed biometric identity solution called DynamicID, FCA-regulated source of funds and wealth analytics which uses Open Banking that covers over 2500 banks globally, advanced electronic signatures, global company checks with information on over 500 million companies with ultimate beneficial owner (UBO) verifications, and digital ePayments – all part of a single client journey workflow.
Upholding Index’s reputation for best-in-class technology and unrivalled client service, Verify 365 enables law firms to simplify their client onboarding processes and improve efficiency, while providing a seamless and intuitive experience for law firms’ clients.
Kate Bould, Managing Director at Index West Midlands, said, “We’re excited to be collaborating with Rudi Kesic and the Verify 365 team. This partnership enhances our offering and supports us in our quest to help our clients stay ahead and be compliant in a dynamic and ever-changing legal market.”
Azeem Rashid, CMO at Verify 365, said, “Verify 365 AML technology uses machine learning, blockchain and advanced algorithms, providing law firms with real-time sanctions monitoring, advanced ID verifications and fraud detection. This makes it an unparalleled tool for managing risk and improving security. With our unique features and technological capabilities, Verify 365 has quickly become a leading risk and compliance platform in the legal market in the UK, Europe, and Australia.”
The legal tech market is experiencing significant growth, with an estimated value of over GBP 16 billion in 2022. As the demand for innovative technology solutions continues to rise, partnerships such as this, between Index and Verify 365, will play a crucial role in driving the growth of the legal sector.
Rudi Kesic added, “Verify 365’s technology platform has gained significant attention in the legal sector due to fact we were the first legal technology company to comply with the HM Land Registry Safe Harbour Digital ID Standard. This standard is a crucial feature in the conveyancing industry, as it guarantees that digital identities are trustworthy, secure, and meet the highest standards of safety and data protection. Our cutting-edge AML solution has been designed to drive efficiency and innovation, and we are excited to see the positive impact we will have on the legal industry and beyond.”
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Verify 365 has gained a competitive edge in the market thanks to its advanced UK-developed proprietary technology, which is unmatched by any competitor. The platform offers an innovative range of features, including biometric and NFC identification – DynamicID, source of funds and wealth analysis through Open Banking, and e-signature and e-payment capabilities, all integrated into a single user-friendly workflow.
Index West Midlands is the Number One provider of conveyancing searches, reports and workflow solutions for property professionals locally, regionally and nationally. The company works closely with all Local Authorities, Law Societies, commercial and residential property lawyers and conveyancing solicitors, and supports the Law Society for CQS.
For more information about this partnership or our solutions, please contact Index PI or Verify 365.
- Kate Bould, MD, Index West Midlands. Tel: 0121 546 0377
- Rudi Kesic, CEO, Verify 365. Tel: 0121 274 2312
