Verify 365 digital onboarding software is not just a platform for ID and AML checks, but it also excels in conducting source of funds verifications, e-payments, and e-signatures. Since its introduction to the market two years ago, Verify 365 has consistently performed well and remains popular among law firms worldwide, including in the UK, Canada, Middle East, and Australia where it holds a leading position in a competitive market. Despite the availability of various alternatives, Verify 365 continues to be in high demand.
Why is Verify 365 better than the competition?
The answer is simple. Verify 365 AML software was developed by lawyers for lawyers.
- Legal expertise: Lawyers who helped develop Verify 365 AML software have a deep understanding of the legal profession and the specific AML challenges and needs of their colleagues. This has enabled Verify 365 to create software that is tailored to the unique demands of the legal field.
- User experience: Verify 365 was designed in a way that is intuitive and easy to use for law firms. The AI-platform can anticipate the types of actions and functions that lawyers need and the software will respond accordingly.
- Efficiency: Verify 365 AML platform can help lawyers work more efficiently and effectively. For example, Verify 365 software automates all client onboarding and AML checks and helps lawyers to access and analyse “risk information” more easily.
- Quality: Verify 365 software is more reliable and effective than the competition, as the lawyers that designed it are using it themselves and know first-hand the importance of having robust AML compliance tools.
Verify 365 is now used by fintech, estate agents, IFAs and accountants
Verify 365 digital onboarding technology, which includes innovative e-payment solutions for verified cross-border transfers, is attracting a rapidly expanding audience. While it was initially focused on the legal sector, Verify 365’s AML platform has now been adopted by various industries, including fintech, estate agents, IFAs and accountants. AML technology is expected to reach a market value of over USD 305 billion by 2025, according to GlobeNewswire, and it is on track for widespread adoption in the digital realm.
Verify 365 uses artificial intelligence to infuse automation
A recent study by Verify 365 found that 96% of lawyers stated that Verify 365’s platform, which includes automation tools such as digital client onboarding, blockchain, and artificial intelligence, has “infused automation” into their practices. As a result, Verify 365 will play a significant role in the legal industry’s future success, especially since the pandemic has caused more than half of the legal workforce to work remotely.
Verify 365 supports the shift towards a remote work environment
Verify 365 AML technology continues to support the shift towards a remote work environment. As the COVID-19 pandemic led to a widespread adoption of digital technologies, many industries have embraced e-commerce and digital services.
For law firms, success now depends on having a strong online presence. Verify 365 technological innovations, such as immersive identity verification tools and digital onboarding facilitation, have helped law firms around the world adapt to this “remote future. In order to streamline AML processes and meet increased client demand, savvy law firms are investing in Verify 365’s AI-driven software solutions to maintain productivity in fast-paced digital environments.
Verify 365 helps law firms comply with AML regulations
The COVID-19 pandemic has prompted many lawyers to work from home, leading them to invest in Verify 365 technology to comply with AML regulations and maintain high levels of remote productivity. In fact, 79% of legal leaders have reported that the pandemic has prompted them to increase their digital transformation budgets. As a result, global spending on lawtech solutions is expected to exceed $2 trillion in 2025 as law firms prioritise digital solutions. Verify 365 is focused on facilitating digital client onboarding as part of this trend.
Verify 365 improves your law firm’s client onboarding journey
Verify 365’s technology not only improves AML compliance, but it can also be used as a tool to gather insights about clients. By utilising big data, law firms can gain a deeper understanding of a client’s journey through the platform, such as their source of funds, credit card transactions, and spending patterns, which can be used to develop a “personalised legal services” strategy.
Research indicates that clients are twice as likely to engage with a law firm that offers a personalised experience, so using customer insights to create targeted client journeys can help to boost engagement and improve retention rates.
Switch to Verify 365 to improve your digital onboarding process
The adoption of Verify 365 by law firms is increasing, especially in the wake of the COVID-19 pandemic. Law firms are switching from inferior, generic solutions and turning to Verify 365 to improve their AML compliance, digital onboarding, and client relationships. According to a recent forecast by Advantage Consulting, more than 70% of law firms plan to implement Verify 365’s AML checks technology within the next year.
Verify 365 will play a significant role in business growth, from reducing human error to opening new client journey opportunities. The implementation of digital onboarding technology in a law firm is crucial for lawyers to stay competitive.
If you would like more information about Verify 365, please do not hesitate to reach out.
This article was submitted to be published by Verify 365 as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.
