Top-tier rated international law firm Wikborg Rein recently announced it has partnered with PSA Consulting to launch a digital client intake solution using Sysero’s workflow automation technology.
Compliance with the Money Laundering Act, combined with an increased focus on data privacy and protection, require today’s law firms to document controlled routines and processes. Oftentimes, this requires considerable internal time consumption and manual operation within multiple systems, which in turn, increases risk.
Wikborg Rein’s new digital solution automates and streamlines the client intake process to reduce acceptance time, improve quality and ensure compliance with regulations. The new system, developed in collaboration with Sysero partner PSA Consulting, uses a built-in risk matrix to automatically assess a new client or case against Money Laundering Act requirements. Client information is automatically checked against various public registers and information databases and their identity authenticated through their Bank Identifier Code. All client data is stored (and deleted) in accordance with GDPR legislation.
Any client or case that falls outside the requirements is automatically routed to a simplified workflow for further assessment to ensure compliance and once approved, automatically created in the firm’s integrated internal systems. Every step of the process is documented for internal quality control and compliance protection.
“The solution replaces many manual processes and technical solutions, which previously were not integrated with each other,” explained Jill Françoise Nordby, Head of Case Control at Wikborg Rein. “Now, the users have an intuitive, adjusted web interface where they can register new clients and cases, see that the necessary information is collected and verified by client and data sources in accordance with current regulations. Additionally, the solution provides necessary approvals internally, and everything is documented automatically.”
“It’s very exciting to see more firms use automation technology to improve their onboarding processes and work in accordance with the latest compliance regulations,” added Phil Ayton, Director of Sysero. “Digital solutions are increasingly key to creating a competitive advantage for today’s firms, and we’re pleased to partner with PSA Consulting to take our Nordic clients to the next level, and uncover new ways of working using Sysero’s technology.”
For more information, please visit www.sysero.com