What is the future of client AML and ID verifications?

By Legal Futures Associate Advantage Consulting

Over the last few months, as we have been deploying our AML and client ID solution to clients, many of the conversations we have been having with law firms have followed a general theme of “what does the future of client verification look like and how do we stay compliant?”. Below we have taken the liberty to compile our thoughts on this to share with you.

Will customers continue coming into the office?

Simply put, yes and no. There will always be clients that prefer the reassurance that comes with going into a solicitor’s office to hand over their passport and documents for them to be scanned and verified. However, just like in the retail industry, if someone can do the exact same task, such as verifying themselves, but in the relative comfort of their own home, then they will. This trend of “remote verifications”, we believe will increase in the future. So law firms need to prepare for the shift.

How will Case Management Systems work with the new verification systems?

Paper copies have the disadvantage of needing to be scanned onto a computer to then be added to the matter. Systems like Verify 365 benefit from being able to integrate into other systems. Gone are the days of ‘standalone’ systems, we have moved into a time where legal
professionals will be able to open matters and verify their respective client directly in their Case Management System. We ourselves are actively working with our exclusive partners to integrate into their case management systems.

Compliance, Compliance, and more compliance.

Compliance is difficult and, in some cases, subjective. Is a verification system which incorporates biometric facial recognition and an NFC check the equivalent as a photocopied piece of paper? In both cases you have met your minimum ID verification requirement but only one offers you complete certainty and security in your process being robust. Verify 365 was built with compliance in mind and legal bodies like the Law Society are themselves recognising the added benefit digital verification systems are having for law practices.

If this article has made you reconsider how you can improve your client AML and ID verification process, then please reaching out to us here to set-up a demo. We’ll happily show you what Verify 365 offers to legal professionals and the benefits it can bring to your law firm.


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