Actionstep Announces New Integration with Verify 365, AML & ID Technology Leader for Law Firms

Today, Actionstep, the world’s leading cloud-based legal practice management system, announces a new integration with Verify 365, an award-winning AML and ID verification platform that provides automated anti-money laundering and NFC-based ID technology in one easy-to-use software app. Together, Actionstep and Verify 365 make the client onboarding process more streamlined, efficient and compliant.

Using the Verify 365 integration, Actionstep customers now have access to:

  • AML ID Verification: instant verification of the client and their ID document using the latest biometric and NFC-chip reader technology using Verify 365 app.
  • AML Address Verification: validating the client’s address automatically through the app with proof of address upload.
  • AML Digital Bank Statements through Online Banking technology: providing lawyers with the financial and risk profile information, including instant digital bank statements directly from the bank.
  • AML Enhanced Source of Funds Checks: allowing the client to provide detailed information and a breakdown of where the funds have come from, along with supporting evidence.
  • AML Global PEPs & Sanctions and Adverse Media Checks: verification and confirmation that a client isn’t included on any international PEP or Sanction lists, including global adverse media checks.
  • AML Know your Business (KYB) Verification: instant verification of the business or company, including the accounts, shareholders, persons with significant control, ultimate owners, etc.

“We are excited to announce our integration with Verify 365,” said Oliver Tromp, UK Regional Director at Actionstep. “Like Actionstep, Verify 365 technology is aimed specifically at the legal sector and they focus on helping law firms stay compliant by simplifying the onboarding process. This integration delivers another tailored solution to our customers allowing them to be more efficient, compliant and effective in an ever-demanding, global legal market.”

Actionstep announces this integration following a recent survey conducted by Lawtech 365 Group that revealed the need for easy-to-use ID verification technology and AML-compliant digital onboarding for law firms. The research found that 75% of respondents expressed a degree of dissatisfaction with the paper-based AML and ID verification process, because the onboarding can very easily be undertaken remotely by using a biometric ID verification app, saving clients and lawyers time and money.

In March 2021, Her Majesty’s Land Registry in the UK published its first digital identity standard practice guide 81 (PG81), which recommended the use of biometrics to verify clients and provided guidelines to verify clients’ digital identity for property transactions. While PG81 is not a mandatory standard, it provides conveyancers with “Safe Harbour” protection. In other words, if lawyers prove they have used a technology platform such as Verify 365 and followed the AML guidelines for verifying their clients, the Land Registry will not seek legal action against them even if the clients are found guilty of identity fraud.

Verify 365 were the first digital ID verification platform to meet the new Safe Harbour standard, providing an app for biometric NFC-based digital verification on all devices that support NFC-chip reading. The app speeds up the verification process, it’s user friendly and makes the verification more secure than photo-based verification.

According to Rudi Kesic, CEO and Founder at Lawtech 365 Group which developed the Verify 365 app, the platform is a frontrunner in providing compliant and secure AML and ID verification technology for the legal sector.

“As soon as the latest AML guidelines were released, our team prioritised adding NFC functionalities that can instantly verify over 10,000 ID documents and all NFC-enabled IDs from 195 countries. Our digital verification integration with Actionstep enables lawyers to verify a person’s identity document and onboard clients in an AML compliant manner in a matter of seconds. Not only does this make our mobile onboarding flows more convenient for clients, but our NFC-based ID verifications are also much more secure methods of data validation.”

Reading the data directly from ePassport’s NFC chip provides the highest security and the ability to check whether someone has tampered with the document. Digital onboarding and verifications can be taken to a new level as most passports today are already equipped with the chip, and the chips are being added to all other ID documents across the globe.

“In a world where we control our lives from a smartphone, we are used to digital technologies. The future of the legal sector is digital, and I am very pleased to say that Verify 365 is evolving at a faster pace than the global regulatory environment. Using an app on their smartphone, a client can simply scan the chip of their ID document using the phone’s contactless reader, take a selfie or video, and the platform then uses complex AI-driven biometric analysis to verify that person. This is a major development for the legal sector. Verify 365 has proved, for the first time, that a remote, compliant, biometric ID verification service can deliver the highest possible levels of security,” added Mev Dzihic, Technology Director at Verify 365.

“We are determined to provide clients with the technology that delivers to their needs as opposed to changing the overall onboarding process. That’s why we are thrilled to announce this real-time, two-way integration with Actionstep. We are both committed and aligned in meeting the goals of modern law firms.”

In addition to the latest NFC-chip reader verification technology, Verify 365 integration with Actionstep also provides law firms and estate agents in the UK with SRA-compliant anti-money laundering verifications using Verify 365’s Open Banking technology. Verify 365 app can verify person’s source of funds securely and easily through an FCA-regulated platform which extracts individual or company transactions and balance data from multiple accounts, using bank-side authentication and consent processes.

“A thorough anti-money laundering source of funds check is critical to cover the Solicitors Regulation Authority’s AML-requirements and reduce money laundering fraud risks. Providing paper statements to lawyers can lead to long turnaround times. With Verify 365, bank account transaction data is guaranteed to be authentic and complete and it’s instantly available to lawyers, analysed and verified without the need to provide additional bank statements.

“I believe that hundreds of law firms will be switching to Actionstep in order to take advantage of the Verify 365 integration,” added Rudi Kesic. “Through this new strategic partnership with Actionstep, clients can complete the required AML and ID verification checks from the comfort of their own homes. The benefits to the clients are enormous, including great convenience, a simple user experience, and trust in the security of the service.”

As legal technology reaches new levels of importance and adoption in law firms, Actionstep is continuing to invest in integration partnerships that deliver tailored solutions to law firm’s challenges.

“Actionstep will continue to work very closely with our key integration partners such as Verify 365 to truly understand and meet the demands and needs of legal professionals across the world,” added Oliver Tromp, Regional Director at Actionstep.

“We are data-driven in our process of providing innovative solutions to ensure lawyers using Actionstep stay compliant and efficient.”

To introduce the integration, Verify 365 and Actionstep are hosting a webinar on 26 May 2022, from 3pm – 4pm GMT (London), showcasing how the two systems work together and the services available. Those interested can register by visiting Verify 365 website.

Actionstep users can get more information by visiting: https://www.actionstep.com/integrations/verify-365/

About Actionstep

Actionstep is a fast growing, dynamic SaaS legal technology business with a global customer base and team. The company specialise in the delivery of legal practice management software to ambitious law firms around the globe. For more information visit: www.actionstep.com

About Verify 365

Verify 365 are a legal sector AML, Onboarding and ID verification platform that protects law firms and their clients from online identity fraud by making sure that a person is who they claim to be. The platform was developed by lawyers for lawyers. With the help of artificial intelligence, Verify 365 can analyse thousands of technological and behavioural variables in seconds, verifying over 10,000 documents from 195+ countries. By using Verify 365, lawyers can stay compliant in the knowledge their AML due diligence is completed quickly and securely. The identity document checks are 98% automated, making verification lightning fast and automated decisions clear and logical. The platform is owned and managed by Lawtech 365 Limited. For more information visit: www.verify365.app

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