We’re proud to announce a new updated version of the Verify 365 platform featuring some truly amazing features!

Our client onboarding platform, which provides law firms and other businesses with secure identity verification and digital client onboarding technology, now has its new software version being launched called Verify 365 Enterprise.

The upgraded platform includes a range of new features and additions including:

Improved biometric NFC-based identity verification with liveness detection

A highly advanced and innovative identity verification revamp that now utilises more AI to achieve a 98% check automation rate. The new and updated Enterprise version features a user-friendly dashboard for quick verification initiation and with 95% of users successfully completing verification on their first try – our identity verification software now offers unmatched document coverage, with over 10,000 government-issued IDs from 190+ countries supported. The solution can be customised to meet specific needs and offers an increased level of fraud prevention up to 20% more than any other verification method. It also supports 45 languages and dialects, making it suitable for global client onboarding and is a reusable and interoperable digital ID stored in a digital wallet on the blockchain, making it significantly superior to any other product on the market.

Global address verification

Introducing Global Address verifications with Verify 365, the new and improved ultimate solution for global address verification. With over 200 countries supported, it offers unmatched coverage for all your address verification needs. The system is specifically designed to carry out electronic checks of client’s addresses, so you don’t have to rely on paper based proof of addresses, making it highly efficient and easy to use. The system is able to verify addresses in real-time, ensuring that they are accurate and up-to-date. It also supports multiple languages, and international locations making it accessible for a global audience.

New and improved International KYB checks

Our Enterprise digital onboarding platform now launches an upgraded version of its Know Your Business (KYB) verification featuring ongoing monitoring for fraud, sanctions screening and money laundering checks.
The launch of the upgraded Know Your Business Verification means it is now the most complete watch list service on the market. With the addition of 49 new countries – Verify 365 can now verify businesses in over 165 countries through its online platform. Verify 365 aims to provide the legal sector with accurate risk intelligence to identify ultimate beneficiary ownership (UBO), group structures, established addresses and key management personnel.

Ongoing global “Politically Exposed Persons” (PEPs) and sanctions monitoring

Introducing an exciting updated feature for Verify 365 Enterprise , ‘Ongoing global “Politically Exposed Persons” (PEPs) and sanctions monitoring’. This cutting-edge feature is designed to help screen individuals and entities against a constantly updated list of PEPs and sanctions from around the world, every 24hours! This helps to ensure that they are not conducting business with individuals or entities that may be involved in illegal activities such as money laundering, bribery or corruption. The PEPs and sanctions monitoring feature is fully integrated into the verification process, making it efficient and streamlined. It also provides alerts and notifications in case of any potential matches, allowing businesses to take appropriate action in a timely manner. We know this will be an essential tool for any business looking to improve their risk management and compliance procedures.

International open banking digital statement analysis for source of funds checks

A revolutionary new feature for Verify 365 Enterprise is our International open banking digital statement analysis for the source of funds checks. This pioneering feature is designed to help businesses carry out financial checks like source of funds for a property or commercial purchase in a fast and efficient way. This new and updated version can connect to over 4000 banks globally and use our technology to connect with their client’s mobile banking app through  and access financial information needed to carry out source of funds checks. This eliminates the need for businesses to rely on traditional, time-consuming methods such as paper statements, which can be prone to errors and fraud.

Advanced and qualified e-signatures

Verify 365 is introducing a new feature that streamlines the client onboarding process. This feature allows businesses to legally and securely collect signatures from clients electronically, eliminating the need for paper-based signatures and reducing the time needed for client onboarding. It is fully integrated into the verification process, making it easy to use, efficient and tamper-proof. This new feature not only saves time but also ensures compliance with regulations. It is important for businesses to have a fast and efficient onboarding process and this feature allows them to do so while still maintaining security and compliance.

Digital payments

With Verify 365’s digital payments feature, businesses can now accept payments in any currency directly within the verification process. This means that businesses can now onboard new clients and process payments in one seamless workflow. This eliminates the need for businesses to rely on traditional, time-consuming and often insecure payment methods such as bank transfers or checks and instead utilise modern forms of payment such as Apple Pay or Pay By Bank. The ability to process payments quickly and securely is important for businesses, and this updated feature helps them do so while maintaining compliance with regulations.

Legal forms

Verify 365 Enterprise is also introducing a new feature for streamlining the collection of information from clients. With this feature, you can create simple and easy-to-use forms that can be completed by clients in minutes. These legal forms can be used to gather information at different stages of the client’s relationship with the business and can be customised to fit the specific needs of the business and also links seamlessly with other client requirements, like collecting documents or carrying out Source of Funds checks, all in simple client-facing workflows. This feature will help to speed up the intake process, provide a better experience for clients and streamlining the workflows of a particular matter.

Enhancing the Digital Client Onboarding Process with Transformational Technology

According to Rudi Kesic, CEO of Verify 365, the new version of the platform is “truly transformational.” He said, “Verify 365 Enterprise” is the most comprehensive and secure digital identity verification platform on the market. With our proprietary and UK-built advanced biometric technology and risk engine “DynamicID”, and our latest blockchain-based digital ID wallet “MyID”, it is designed to provide lawyers, accountants and estate agents with peace of mind and confidence in the digital world.”

Mev Dzihic, CTO 365, added, “In today’s digital age, identity verification and anti-money laundering (AML) compliance is becoming increasingly important for all regulated businesses. With the proliferation of online fraud and identity theft, it is crucial to have a reliable and secure way to verify identity and protect solicitors and estate agents from financial fraud. Verify 365 aims to provide regulated business with this peace of mind, helping them to confidently and safely verify their clients in a matter of seconds.”

Azeem Rashid, CMO of Verify 365, said, “Our new version is not only more secure and convenient, but it also saves time and resources for businesses, whilst complying with regulators such as the Solicitors Regulation Authority, the Financial Conduct Authority and HM Land Revenue in the UK. The advanced and qualified e-signatures, for example, allow users to easily and legally sign documents online, within the same workflow, saving the hassle of printing and physically signing paper documents. And the global open banking digital statement analysis helps real estate lawyers to quickly and accurately verify the source of funds for their clients, saving them time and money.”

The Importance of AML Compliance and How Verify 365 Enterprise Can Help

SMQ Legal LLP, a law firm with offices in Oxford, Luton, Bedford and Burton, is one of the first law firms to adopt the new version of Verify 365. According to Suezanne King, Managing Partner of SMQ Legal, “Verify 365 Enterprise has been a game-changer for our firm. It has streamlined our digital client onboarding process and allowed us to quickly and securely verify the identity of our clients. We are confident that this new platform will help us to provide better service to our clients, stay SRA-compliant and protect our firm from money laundering fraud.”

Recently, HM Revenue and Customs (HMRC) has announced further fines for anti-money laundering (AML) breaches. The agency has issued fines to 24 firms between April and June 2022 for failing to apply for AML registration in a timely manner. The largest fine was issued to Ealing-based agency Helliwell & Co Properties, which received a penalty of £92,267.

This announcement comes after campaign group Spotlight on Corruption claimed that many firms are continuing to abuse AML rules and display “significant levels of non-compliance.” A recent survey also revealed that nearly half (43%) of property professionals are not improving their AML processes due to a lack of concern or belief that they will not be fined. Additionally, 59% of respondents reported not feeling completely confident in their AML procedures.

These new and updated Enterprise features are designed to streamline and enhance the digital client onboarding process for law firms, estate agents, financial institutions and accountants. The platform is also fully compliant with various legal and financial industry regulations and standards, ensuring that it meets the highest levels of security and privacy. The platform uses state-of-the-art security measures and advanced authentication technology to verify clients and ensure that user data is protected from identity theft and other online threats.

Verify 365 Enterprise is set to be rolled out to all Verify 365 platform users in the coming weeks.

It is expected to be welcomed by law firms, estate agents and accountancy practices looking for a reliable and secure way to verify clients online and stay compliant with AML regulations.

Protect your business and avoid costly fines by investing in a compliant and secure AML compliance solution. Our cutting-edge technology and expert team will ensure that your business stays compliant with the latest AML regulations.

Contact us today to schedule a demo and learn more about how we can help your business stay compliant.