Denver, Colorado – 29 September 2023 – Lawtech 365 Group, the award winning legal technology company, is excited to announce the opening of its new office in Denver, Colorado. This strategic move marks an exciting step forward for the company, positioning it to better serve its North American law firm clients and accelerate its growth in the United States and Canada.
Lawtech 365 Group has been making waves in the legal tech industry, recently winning the prestigious Technology Company of the Year 2023 award in the United Kingdom. Commenting on this remarkable achievement and the company’s expansion into the US and Canada, Rudi Kesic, CEO of Lawtech 365 Group, stated, “We are proud to be recognised as the most innovative and fastest-growing legal tech company in the world. Our success is driven by our commitment to innovation and building tech platforms for lawyers by lawyers. Opening our new office in Denver is a testament to our dedication to providing cutting-edge solutions to law firms across North America.”
At the heart of Lawtech 365’s success story is their flagship product, Verify 365. This revolutionary platform offers an all-encompassing solution for law firms in the United States and Canada, assisting attorneys with fraud prevention, ID checks and Anti-Money Laundering (AML) compliance. Verify 365 comes equipped with fully automated Know Your Customer (KYC) and Know Your Business (KYB) checks, providing instant reports to help law firms thoroughly understand the risk profile of their clients. The platform also cross-checks against global politically exposed persons (PEPs) and sanctions lists, ensuring that law firms remain vigilant in preventing financial crimes.
“Verify 365 is not just a technology platform, it’s a shield against financial crimes and a key to maintaining trust in the legal profession. In an era where financial regulations are tightening and the threat of fraud looms large, law firms need robust tools to protect themselves and their clients. Verify 365 is that tool. It empowers law firms to prevent fraud, conduct rigorous ID checks, and stay in compliance with anti-money laundering regulations,” added Sarah Arnold, COO at Lawtech 365 Group. It’s not just about staying ahead of the curve, it’s about safeguarding the integrity of our profession and ensuring that trust in the legal system remains unshaken.”
In the United States, AML compliance requirements for law firms have become increasingly stringent. Law firms must implement robust processes for client identification and ongoing monitoring to detect and report suspicious activities. Verify 365 simplifies this complex task by offering a comprehensive solution that aligns with US AML compliance regulations.
In Colorado, where legal professionals navigate a complex regulatory landscape, Rudi highlights the importance of AML checks and identification verification while emphasising the role of technology, particularly Verify 365, in enhancing these processes.
“Compliance is the cornerstone of our profession’s integrity,” Rudi added. In Colorado, regulatory requirements related to AML checks and ID verification for attorneys are multifaceted, spanning from the Colorado Rules of Professional Conduct to federal regulations, including the Bank Secrecy Act (BSA). Rudi’s advice to law firms taking on new clients is clear – “Embrace technology to stay compliant with the regulations.”
“When engaging new clients, especially in financial transactions or fund management, attorneys are required to conduct AML checks and ID verification,” added Sarah. These procedures involve verifying client identity through official documents, scrutinising the source of funds for legitimacy, and reporting suspicious activity as required by law.”
Rudi points out that regulation technology or “regtech” can be a game-changer in this context. “In today’s legal landscape, compliance is not just a requirement, it’s an essential element of preserving trust in the profession,” he asserts. “To meet regulatory obligations and prevent fraud, law firms should harness technology like Verify 365.”
The opening of Lawtech 365 Group’s Denver office highlights the rapid adoption of legal technology in the United States, with the country catching up to the United Kingdom as one of the most advanced in the legal tech landscape. As the legal industry embraces digital transformation, Lawtech 365 Group is well-positioned to support law firms in the US with innovative solutions like Verify 365, making client onboarding more secure, efficient and compliant than ever before.
“In a digital age, the adoption of technology like Verify 365 is not a choice, it’s a necessity for ethical, compliant and efficient legal practice.”
Verify 365 platform expansion into Denver signifies a commitment to helping law firms navigate the evolving legal landscape in the US, ensuring they meet regulatory obligations while delivering an exceptional client experience.
With Verify 365 at the forefront, the company is poised to drive the future of legal tech, setting new standards in AML compliance, ID verification and fraud prevention.
