Leading digital ID verification and AML compliance company, Verify 365, has announced the launch of its new suite of British-built technology for UK legal professionals. The new software suite is designed to help solicitors in England, Wales and Scotland meet their regulatory requirements while also supporting the British economy by choosing British-made technology, instead of imports from Canada, Australia or USA.
Solicitors in the UK should be choosing British-made legal technology
As part of the recent push to support the UK economy, Verify 365 highlights that lawyers in the UK should be choosing British-made legal technology platforms that meet regulatory requirements, including those set out by the Solicitors Regulation Authority (SRA) in England. Using British-made technology is an important step in supporting the economy, especially as the UK rebuilds after the COVID-19 pandemic.
Rudi Kesic, CEO of Verify 365, said, “Our new suite of technology is designed specifically for legal professionals to ensure they can meet the SRA requirements in England, Wales and Scotland, whilst supporting the UK economy with British-made technology.”
Natalie Foster, CEO of Yorkshire-based Inspire Legal Group, said “We are thrilled to partner with Verify 365 and to have the opportunity to offer our clients British-built technology. This collaboration will enable us to leverage the latest AML and fraud prevention software, and continue to provide innovative legal services in a compliant manner, so switching to Verify 365 was a no-brainer for us. Their advanced AML technology offers a level of security and efficiency that we were looking for to streamline our processes. Verify 365’s AML checks and “smarter client onboarding” fits well with our commitment to providing exceptional legal services and a seamless experience for our clients.”
Verify 365 technology is developed by its own team of software engineers
All Verify 365 software is built in-house, with proprietary technology developed by its own team of software engineers and developers, working closely with a in-house team of lawyers, which makes the platform unique in the AML sector, as most competitors do not build their own technology – they simply “license” it from other countries , or they are just white-label resellers, which often results in issues around regulatory compliance and security. In contrast, Verify 365’s latest edition, “Enterprise”, is an entirely UK-built solution that combines the latest DynamicID “biometrics” tech, address checks, open banking technology with source of funds analytics, eSignatures and ePayments to provide law firms with a seamless and secure client onboarding process.
Verify 365 is compliant with the HM Land Registry Safe Harbour Digital ID Standard
Verify 365 platform is also compliant with the HM Land Registry Safe Harbour Digital ID Standard, using machine learning, NFC technology and advanced biometrics to verify the identity of individuals or companies involved in land and property transactions. The technology helps conveyancers to verify and onboard clients digitally, removing the need for physical meetings, paper checks, or manual sanction searches, so it can significantly reduce costs and save time.
“DynamicID” is an advanced, UK-built biometric identity solution
“Verify 365 AML checks platform is unique in the market as it is the only one with its own proprietary technology,” added Azeem Rashid, CMO at Verify 365. “Our DynamicID tech is an advanced, UK-built solution that provides a seamless and secure onboarding process for legal professionals and their clients.”
“MyID” is a revolutionary blockchain identity – digital identity wallet
Verify 365’s new suite of technology also includes the revolutionary “MyID” blockchain identity, which is designed for end-users to be able to create a “digital identity wallet”, so enabling a secure, quick and easy ID check, and “SecureSend”, which is tailored to the needs of the conveyancing market, including sharing of “verified identity packs” between lawyers, estate agents, mortgage brokers and property managers.
Mev Dzihic, Stratford-based CTO of Verify 365, said, “I am confident that, with our latest software edition, we have pushed the boundaries by at least five years ahead of the competition. The new Verify 365 Enterprise platform includes the ability to perform instant AML checks, verify over 10,000 identity documents, verify addresses, provide detailed source of funds analytics, and perform ongoing monitoring of client activity to ensure ongoing compliance. The tech also integrates with various case management systems, such as Actionstep and Clio, and we offer a range of additional workflow options, including eSignatures and ePayments.”
Verify 365 integrates with case management systems, such as Actionstep and Clio
Lee Burrows, Business Development Manager at Verify 365, added, “The new Enterprise platform is designed to make it easy for conveyancers, estate agents and property managers to verify the identity of individuals or companies involved in property transactions. We are the only AML solutions provide that can offer a comprehensive range of bespoke conveyancing verification options, including biometric ID checks and open banking source of funds verifications, making it simple and straightforward for real estate agents and mortgage brokers to comply with AML regulations.”
Verify 365 is fully compliant with SRA anti-money laundering regulations
Verify 365’s commitment to British-made technology also means that its platforms are fully compliant with the SRA requirements in England. This is an important consideration for most legal professionals, who need to ensure that they are meeting their regulatory obligations while also protecting their clients’ data.
“We understand that legal professionals need to have confidence in the technology they are using, which is why all of our platforms are fully compliant with the SRA requirements in England & Wales,” added Rudi. “Our commitment to British-made technology means that our software is built specifically for lawyers in the UK with the highest standards of security and compliance.”
Choose British-made technology, and support the UK economy
“Verify 365 technology is already being used by thousands of legal professionals across the UK, with most law firms reporting “significant benefits” in terms of efficiency, cost savings and compliance. By choosing British-made technology, legal professionals will not only support the UK economy but also ensure that they are using the most advanced and secure software available,” added Azeem.
In addition to the SRA regulations, HM Land Registry also requires robust identity verification checks to be carried out as part of the conveyancing process. Verify 365’s platform offers full compliance with HM Land Registry Safe Harbour Digital ID Standard, ensuring all compliance requirements are met while simplifying the conveyancing process for conveyancers.
“We are proud to offer the legal sector a fully compliant, end-to-end solution that is built right here in the UK. By using our platform, lawyers can rest assured that they are meeting all regulatory requirements, while also supporting British-made technology and helping to boost the economy,” added Rudi.
“Unlike the competitors, who simply license and resell technology from other countries, Verify 365 is the only platform in the AML sector with its own proprietary UK-built technology, including our revolutionary “DynamicID” biometric risk engine, which is a cutting-edge solution that provides advanced identity verification, facial recognition, NFC chip checking and liveness detection, to prevent fraud and keep transactions secure,” added Mev.
DynamicID technology is unmatched in the industry and built in the UK
Rudi added, “Our DynamicID technology is unmatched in the industry, offering the most advanced and reliable identity verification solution available. By using our AML checks software, lawyers can be confident that they are providing their clients with the highest level of security and compliance, but at the same time supporting the local economy.”
Verify 365 – The Fastest Growing Legal Technology Company in History
Verify 365’s commitment to British-made technology and superior customer service has helped it establish a strong reputation within the UK’s legal sector. The platform has received numerous accolades, including being named “The Fastest Growing Legal Technology Company” at the European Lawtech Awards in 2022.
“Buying British-made technology will have a positive impact on the job market. By choosing UK-built platforms like Verify 365, instead of imports from Canada, Australia and USA, lawyers will be creating job opportunities for local people, here in the UK, so I am extremely proud to be contributing to the creation of new jobs in the technology sector in Birmingham, Manchester and London, and we are fully dedicated to delivering innovative solutions to the legal industry. As the company continues to grow and expand its services, we are committed to creating even more job opportunities and investing in the development of the UK’s tech industry,” added Rudi.
Company committed to creating job opportunities in the UK
With its innovative digital client onboarding technology, strict adherence to AML regulations and commitment to superior customer service, Verify 365 is the clear choice for solicitors, conveyancers and estate agents looking to streamline their compliance processes while supporting British-made technology.
Lawyers who are interested in learning more about Verify 365’s compliance platform can visit the company’s website or contact the company directly to schedule a demo.