How Amiqus Simplified AML Compliance For London Law Collective

London Law Collective achieves efficient Anti Money Laundering checks in minutes through Amiqus

a person on the laptop screen with a magnifying glass on them and a checklist to the side

Client Overview

London Law Collective, a leading provider of corporate and commercial services to innovative businesses in the UK and globally, shares its journey of optimising client due diligence and AML/KYC compliance efficiency through its partnership with Amiqus.

Amiqus spoke with Jo Farquharson, CEO and Founder of London Law Collective, to learn about the valuable impact that Amiqus has brought to their AML/KYC compliance and client due diligence process.

Problem

London Law Collective aimed for streamlined AML/KYC compliance amidst evolving regulations, while minimising time spent on manual processes.

Solution

Amiqus provided its AML compliance technology for comprehensive client screening, including PEPs, sanctions, identity and criminal record checks.

Result

With Amiqus, they can send a check request in 3 minutes and receive information from clients within 10 minutes, resulting in enhanced efficiency.

Challenge

Efficiently handling AML/KYC compliance checks for a diverse clientele amid evolving sanctions and regulations was crucial for London Law Collective.

They aimed to enhance the efficiency of their compliance processes, allowing them to focus more on strategic legal services rather than spending excessive time on data collection and other manual processes.

Solution

Amiqus stepped in to equip London Law Collective with robust digital tools to support their client due diligence efforts, yielding a host of key advantages:

Watchlist checks: Amiqus’ watchlist check function emerged as a vital tool for the London Law Collective. It facilitated efficient screening of individuals against extensive databases of Politically Exposed Persons (PEPs), sanctions, and adverse media.

User-friendly interface and support: London Law Collective appreciated the Amiqus platform’s user-friendly interface and responsive client support. The alignment of values between both the organisations and Amiqus’ transparent approach contributed to a positive partnership.

Risk assessment facilitation: Amiqus streamlined the process of gathering essential facts and data for risk assessment. This enhancement empowered fee earners to make well-informed decisions about potential clients quickly and easily.

Time Efficiency: With Amiqus, the process of sending check requests to clients and receiving client information was reduced to a matter of minutes. This led to streamlined operations and faster turnaround times.

Onboarding and Training: London Law Collective found the onboarding experience with Amiqus to be straightforward and seamless. The comprehensive and practical training provided by Amiqus facilitated a smooth implementation of the platform across the firm.

Amiqus dashboard showing results of the watchlist check which is used by London Law Collective
With Amiqus' Watchlist check, instantly screen and continuously monitor global data on politically exposed persons (PEPs) and sanctions lists, as well as adverse media data from 500 million web pages

Results

The partnership between London Law Collective and Amiqus exemplifies the positive impact of leveraging advanced AML compliance technology in the legal industry, as evidenced by the statistics provided below:

  • London Law Collective has conducted over 2000 checks via Amiqus
  • It takes 3 minutes to send a check request to a client
  • It takes 10 to 15 minutes for clients to submit their information
  • A score of 9 out of 10 was given by London Law Collective for the overall experience with Amiqus, reflecting a high level of satisfaction and ease of use

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