"Leading the SRAâs Financial Assurance Programme and AML focus has given me a unique insight into the processes and practices of law firms when taking on new Clients and instructions. The need to start Clients' work urgently means pressures are exerted throughout the firm. Potential for mistakes is high, with significant consequences.
What I have seen in Evaluate Onboard is a beautifully simple way to ensure all the correct controls are in place whilst actually helping the Client and Fee Earners through the process. Embedding controls rather than reacting to problems, ensuring that prevention is always better than cure. "
Sam Palmer - 410-397-0654
"We think Evaluate Onboard is a âgame changerâ in the client on boarding process; balancing greater efficiency with business and reputation protection in the vital area of financial crime. Their product is the first line defence against the many pitfalls of the money laundering regulations and a work enhancer.
We are delighted to continue to be involved with the Evaluate On Board product, not just users but trusted advisors in the financial crime sector. We will be working alongside the e-legal team to ensure the product remains at the forefront of good compliance and AML best practice, feeding in key changes such as the 4th Directive, which will be rolled out by June 2017 in the UK. "
Alex Ktorides - 580-560-4986
Up to 50% of New CLient processes do not collect the correct documentation
82% of Law Firms are worried about the overhead of understanding and implementing the 4th directive
76% of fee earners are concerned about asking their client more questions when onboarding or starting new matter
The Client of your firm is asked the minimum number of relevant questions for their, or their companyâs status and asked once for the correct set of ID and documentation. This request for information can be done âin-firmâ or at home at your Clientâs convenience.
Great effort has been taken to create New Client and New Matter processes which comply with Law Society guidelines and are ready to use. Your implementation project need only concern itself with any local specifics you require for your own practice or case management systems.
The Fee Earnerâs time is always protected using Evaluate. They are involved in each process only once at the optimum time and asked only the required questions on which they must opine. In-built rules involve compliance only by exception enabling faster Client on-boarding.
For all of our licenced customers we offer continually updated question and ID request to ensure the processes we provide support the latest regulations. This includes the forthcoming changes required to support the 4th Directive.
TWe have and will continue to integrate with the best-of-breed AML systems for both the UK and abroad, for individuals and companies. Today this means we offer seamless Smartsearch integration, with no need for any re-keying of information.
As part of our design principles to avoid the re-keying of any client or matter data Evaluate Onboard will integrate directly with your practice management system automatically creating Client IDâs and Matter codes for successful processes.