London, UK – 16 October 2023: In an ambitious stride aimed at transforming Client Due Diligence (CDD) and Anti-Money Laundering (AML) compliance in the legal sector, Verify 365 is proud to announce its latest version of the most advanced open banking technology within its expansive AML suite of checks and verifications, tailored specifically for law firms in the UK, Europe, Australia and New Zealand.

Harnessing the Power of Open Banking

Verify 365 latest open banking technology is not just a transition but a revolution. This pioneering solution taps into this wave of transparency and agility, positioning law firms at the highest level of client AML checks, streamlined processes, and enhanced operational efficiency.

Deepening Due Diligence and Strengthening SRA Alignment

Against a backdrop where Enhanced Due Diligence is more than just a mandate, Verify 365’s AML technology platform, fortified by open banking, offers law firms an avenue to undertake intricate client transaction reviews, particularly in scenarios brimming with money laundering potential.

Pioneering KYC & Source of Funds Checks

Rudi Kesic, CEO of Verify 365, said, “Open banking doesn’t merely reshape source of funds norms, it’s a gateway to unprecedented trust and clarity. Our latest AML suite, integrated with open banking in over 40 countries, provides law firms an unmatched depth in client verification. Furthermore, our technology empowers firms to perform rigorous source of funds checks, ensuring that the origin of every transaction is transparent, traceable, and compliant.”

Verify 365 – An All-Encompassing Open Banking & Anti-Money Laundering Suite

With law firms often at the crux of large financial transactions, the threats of money laundering loom large. Verify 365’s latest AML suite emerges as a beacon of assurance, guaranteeing unwavering compliance, safeguarding firm legacies, and demystifying the intricate pathways of global AML regulations.

Championing Fraud Prevention & Trust in the Open Banking Era

Rudi added, “Integrating our AML suite with international open banking frameworks is a strategic endeavor beyond mere compliance. It’s our pledge to fortify the legal sector against fraud. In an era defined by digital strides, our integrated approach epitomises trust, security, and innovation for the legal community.”

Hundreds of Law Firms Transitioning to Verify 365’s AML Platform

In the dynamic landscape of legal practices, the marriage of AML compliance with open banking stands out as a cornerstone. Law firms with an eye on the horizon are urged to harness the transformative potential of Verify 365’s AML suite.

For a comprehensive insight or to book a demonstration, please reach out to our dedicated team at 0121 2742 2312 (UK).

About Verify 365 Risk & Compliance Technology

Standing at the technological vanguard, Verify 365 specialises in real-time eIDV verifications, sanction checks, KYB checks, open banking integrations, and groundbreaking compliance solutions. Anchored in its unwavering dedication to security and efficiency, Verify 365 persistently raises the bar in AML compliance and fraud prevention.