Leading legal technology platform Verify 365 has announced a new partnership with Inspire Legal, Yorkshire based firm that challenges traditional methods by incorporating smart digitised technology. This partnership will bring together Verify 365’s cutting-edge technology to provide the law firm with powerful new tools that combines Know Your Client (KYC), Anti-Money Laundering (AML), and Source-of-Funds (SoF) verification in an all-in-one solution.
Innovative approach to legal services
Inspire Legal Group’s decision to partner with Verify 365 is a testament to the innovative approach to legal services and advanced AML and fraud prevention solutions. The partnership allows Inspire Legal Group to enhance the client journey experience and meet all of the Solicitors Regulation Authority and HM Land Registry’s AML/KYC compliance obligations, including the Safe Harbour Digital ID Standard.
Natalie Foster, CEO of Inspire Group, spoke to the exciting possibilities opened by the partnership: “We are delighted to be partnering with Verify 365, a company that shares our commitment to innovation and client success. This partnership will enable us to provide our clients with faster onboarding through the use of digital ID checks, Open Banking and eSignatures. Our firm is able to securely manage compliance obligations, while also exploring new opportunities to drive value and growth for our clients.”
Advanced AML checks
The partnership between Verify 365 and Inspire Legal highlights the importance of advanced Anti-Money Laundering checks and digitised solutions in the legal industry. With the increasing complexity of financial fraud and significant fines being issued by the Solicitors Regulation Authority for poor AML compliance, it has become essential for law firms to have robust systems in place. Verify 365’s advanced AML checks and smarter client onboarding solutions provide an added layer of security to law firms, ensuring that their clients receive the highest level of protection against financial fraud and identity fraud.
Verify 365 new “Enterprise” platform is a testament to the commitment of innovation which features new and improved biometric identity verification technology – MyID, a unique UK-developed biometric blockchain identity system storing a secure digital identity. MyID technology uses advanced biometrics and blockchain to create a secure digital identity for clients, ensuring that their personal information remains protected and accessible only by authorised parties.
Azeem Rashid, CMO of Verify 365, emphasised the unique position the company occupies in the market and how it stands out from competitors: “We are proud to offer UK developed technology solutions, that are specifically developed to meet the regulations and compliance requirements in the UK.
Wave of adoption of ‘Enterprise’ digital client onboarding platform
In less than six weeks, over 100 law firms have expressed interest in or signed up for the Verify 365 “Enterprise” platform, showcasing the growing demand for advanced eIDV and AML solutions. The speed at which these firms have embraced the platform is a testament to the value they see in Verify 365’s technology and the benefits it can bring to their practices.
Rudi Kesic, CEO of Verify 365, praised the work of his team in creating solutions that protect law firms from regulatory risks: “At Verify 365, we are passionate about helping law firms navigate the increasingly complex regulatory landscape. Our team has worked tirelessly to create innovative solutions that mitigate risk and enhance compliance, and we are thrilled to partner with Inspire Legal to showcase how our solutions can help transform law firm operation.”
“At Verify 365, we are committed to delivering innovative and secure digitised solutions, and we are delighted to have Inspire Legal Group join our growing list of partners”.