GlobalX partners with AML Accelerate for AML/CFT compliance

Legal technology company GlobalX, which supports over 20,000 legal and conveyancing professionals across Australia, has partnered with AML Accelerate’s AML/CFT compliance platform.

The company has partnered with the RegTech to conduct money laundering and terrorism financing risk assessments and to create compliant programs.

GlobalX’s products and services include legal practice management software Open Practice, conveyancing workflow Matter Centre, electronic conveyancing with PEXA, comprehensive Verification of Identity (VOI) VOI software GlobalX IDSecure, digital signing solution SignMe and settlement attendance and legal support services. It claims to help Australia’s leading boutique and top tier law firms increase productivity, profitability and their customer service.

CEO Peter Maloney said: “AML Accelerate’s platform offers practitioners the opportunity to access time-saving solutions and advice to help them conduct, navigate and manage their compliance obligations.”

With the increase in compliance requirements worldwide by governments and regulators, AML Accelerate has made it their mission to create a platform which helps organisations accelerate their compliance efforts.

AML Accelerate provides money laundering and terrorism financing risk assessments tailored to over 30 financial and non-financial industry sectors. The company has been designed to help organisations of all sizes across different industry sectors and geographies to meet their AML compliance requirements, with the aim of saving customers time and money.

Anthony Quinn, co-founder of AML Accelerate added, : “Quinn added, “GlobalX have deep relationships in the legal, conveyancing, accounting and real-estate sectors, all of which, are soon expected to become regulated under Australia’s anti-money laundering and counter-terrorism financing laws and will face considerable challenges in meeting these new compliance obligations.”

Earlier this year, LexisNexis, a provider of legal, regulatory and business information, partnered with AML Accelerate to enable its customers to comply with AML/CFT compliance obligations. The RegTech company also recently formed partnerships with GRC Institute, a member association for compliance and risk management professionals, and Deloitte. AML Accelerate’s on-demand advice service offers its clients up to three-hours of video conference calls with one of Deloitte’s hand-picked AML experts.

In a recent interview with RegTech Analyst, Anthony Quinn, co-founder of AML Accelerate, said the regulatory environment is creating the perfect storm for RegTech to ‘come out of the cold’. “After a long time in the cold RegTech is recognised as being a way of effectively managing risk exposures and addressing the need for transparency in actions organisations are taking to address risk and compliance matters,” he said.