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Client interaction: identification link for streamlined AML client identification

RegLab's 'magic' identification link provides quick and convenient AML client identification.

The value of automated identification links

Automated identification links ensure a seamless client identification process. When creating a file, you can send an identification link to the client directly from the application. The status of client feedback is tracked centrally and the client information provided is stored centrally as well.

As soon as a new file is created, the client receives an identification link. This is accompanied by an explanatory text, explaining the AML obligation and the content of the client identification.

The client receives this identification link by e-mail and often the engagement letter is attached. This link can be formatted in the firm's branding. Once the client clicks on the link, he or she is guided through the identification step by step. Each section indicates what is required and why.

Information collected during this client interaction includes a Chamber of Commerce extract, organisational chart of the shareholder structure, info on the representative, UBO (Ultimate Beneficial Owner) and PEP (Politically Exposed Person) if there are any, and copies of identification documents of these individuals.

All client information collected is centrally available in RegLab. So information is not collected in a fragmented way and stored in various locations. All information can be accessed and viewed from RegLab. Whether sending out links and automatic reminders or collecting information: everything is done from one place.

Clear roadmap for clients

Big advantage of this form of client interaction is its clarity and friendliness for clients and for your firm. All steps in the identification process are explained. If the client wants more information, such as about the UBO or PEP, he or she can click on the question mark and detailed info is shown. In addition, at the start, the approximate time required for the client to complete these steps is indicated. In between, a pause can be taken without losing completed information.  
 
This way of client identification, where an automated process goes through all the steps with the client, is perceived as friendly. Especially with a professional notice and accompanying letter, this leads to a positive client experience on AML. After all, AML identification is mandatory, it is better to make it as friendly and efficient as possible for everyone.

And with an expected high-risk file?

The basic identification link is the same for all clients. If you expect a file to be high risk, you can add additional questions within RegLab. These questions are then attached to the identification link. So you can receive some more information about the origin of funds and so on. Assuming after receiving the information you classify the file as a high-risk file, you can send a new identification link with these additional questions. The information that has been supplied before is already filled in. All the information is directly available in the file and can be viewed.

Customised identification link

The advantage of this method of client interaction is that it can be customised in the firm's branding style. The client receives not only the engagement letter, but also the identification link in the tone of voice of the firm. In addition, various components can be customised, such as after how many days a reminder should be sent. RegLab has several templates available which the firm can use or fully adapt to its own style. 

 
Another big advantage is that the software takes care of client identification and not the lawyer himself. Experience shows that lawyers enjoy not having to ask their clients these AML questions themselves. In addition, this method of identification comes across as professional because expertly designed software takes the process step by step. This saves time, both on the lawyer and client side. Instead of various mails and separate documents, this process is controlled and managed from one central location.

 

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