Summa Tech, the developers of the cloud-based client onboarding tool, Onboarder, has launched its AML checking feature.
The new feature, a key part of the platform, runs anti-money laundering checks as part of the client onboarding process to create a streamlined workflow that keeps all of a client’s information in one place.
Firms have historically had to deal with the expense of using a second system to run AML checks on new clients on many similar platforms, alongside the paperwork and sign-up handled in their existing solution.
However, Onboarder now allows users to run automated checks within the platform. The new feature, built in partnership with SmartSearch, allows users to seamlessly complete client onboarding.
Nathan Keeley, CEO of Summa Tech, said: “We built Onboarder to take the manual work out of bringing on a new client and AML checks were the one part firms still often had to handle somewhere else.
“That’s no longer the case with our new feature, which uses the existing, trusted technology developed by SmartSearch.
“By using Onboarder, accountancy firms now have all the information and processes, such as letter of engagement, e-signing, KYC and risk assessment, all in an easy-to-use workflow.”
Designed specifically for smaller firms, who have struggled to access the benefits of this technology, Onboarder is opening greater efficiency and better compliance for more firms.
Anyone interested in AML Check can sign up to Onboarder through Summa Tech’s free concierge service by clicking here.