4.2 C
New York
Wednesday, March 29, 2023
HomeLegalSolicitors in the UK urged to buy British-made technology to support the...

Solicitors in the UK urged to buy British-made technology to support the economy



Related stories

Verify 365, Birmingham-based digital ID verification and anti-money laundering (AML) compliance company, has unveiled its latest suite of British-built technology that’s specifically crafted for legal professionals in the UK. This cutting-edge software suite is aimed at assisting solicitors in England, Wales, and Scotland to comply with their regulatory requirements while also contributing to the growth of the British economy. By opting for British-made technology instead of imports from countries like Canada, Australia, or the USA, legal professionals can now support local industries and boost the economy.

Lawyers in the UK should be adopting British-made legal technology

Lawyers in the UK should be adopting British-made legal technology, say Verify 365

As the UK continues to recover from the impact of the COVID-19 pandemic, there has been a renewed emphasis on supporting the country’s economy. In this regard, Verify 365, a leading digital ID verification and AML compliance company, has urged lawyers in the UK to opt for homegrown legal technology platforms that comply with the regulatory requirements set out by the Solicitors Regulation Authority (SRA) in England & Wales.

According to Verify 365, selecting British-made technology is an essential move towards revitalising the economy. In a recent announcement, the company emphasised that legal professionals can contribute to the UK’s economic recovery and growth by choosing local technology solutions instead of using foreign-owned “imports” from other countries.

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 by using British-made technology.”

Natalie Foster, CEO of Yorkshire-based Inspire Legal Group which recently implemented Verify 365, said:

“We are thrilled to partner with Verify 365 and to have the opportunity to offer our clients such advanced 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 client onboarding processes. Verify 365’s new ‘Enterprise’ platform fits well with our commitment to providing exceptional legal services and a seamless AML onboarding experience for our clients.”

Verify 365 technology is developed in-house

“All Verify 365 software is built in-house, with proprietary technology developed by our own team of software engineers and developers, working closely with an in-house team of lawyers, which makes the platform unique in the AML sector,” added Rudi:

“Most people don’t realise that our competitors do not actually build or own any of the technology they sell – they simply ‘license’ it from other countries, or they just white-label it as ‘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 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 PEPS and 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, Birmingham-based CMO at Verify 365:

“Our DynamicID tech is an advanced, UK-built solution that sits at the centre of the Verify 365 platform and 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.”

Lee Burrows, Derby-based Sales Director 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 provider that can offer a comprehensive range of bespoke conveyancing verification technologies, including advanced biometric ID checks and open banking source of funds verifications, making it simple and straightforward for estate agents and mortgage brokers to comply with AML regulations.”

Verify 365’s commitment to British-made technology also means that its platforms are fully compliant with the SRA regulations in England & Wales. 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,” said 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.”

“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,” said 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 said:

“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’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.

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.

Solicitors 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.

This article was submitted to be published by Verify 365 as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.


Latest stories