LAB Group, a number one worldwide RegTech and Australia’s best-connected onboarding supplier, have introduced that it has delivered a brand new integration partnership with CreditorWatch to offer upgraded advanced due diligence capabilities to all members of the LAB Community.
LAB is leveraging CreditorWatch’s distinctive and complete registry and credit score danger knowledge to ship key automation and danger mitigation options into its digital onboarding and shopper lifecycle platform.
The partnership has already resulted within the incorporation of UBO discovery into LAB’s digital onboarding expertise for an enterprise buyer, leading to uplifted straight-through processing and numerous hours saved in back-office checks. This answer additionally considerably reduces handbook keying by the applicant, dashing up onboarding and enhancing accuracy.
LAB has additionally just lately commenced the rollout of an answer to repeatedly monitor for key danger indicators in its buyer’s investor bases by way of their engagement lifecycle. That is enabled by CreditorWatch’s entry to greater than 50 private and non-private knowledge sources, together with ASIC lodgements, ATO debt information, ABR knowledge and commerce cost defaults.
CreditorWatch’s platform is now built-in with LAB Confirm, which orchestrates verification straight inside the digital onboarding journey and all through the shopper lifecycle. Having direct integration with the CreditorWatch platform empowers LAB Group prospects to make higher knowledgeable danger selections and drive additional efficiencies throughout shopper lifecycle administration necessities.
Nick Boudrie, CEO and Co-Founding father of LAB Group, stated, “It’s been a pleasure to work with CreditorWatch who’ve helped LAB tailor options to handle our buyer’s distinctive downside statements. This integration upgrades our capabilities to satisfy the wants of organisations with advanced due diligence necessities, leveraging CreditorWatch’s specialist experience in enterprise knowledge and the robustness of its infrastructure.
“By increasing our LAB Confirm functionality, this integration permits us to assist our monetary providers prospects to satisfy their regulatory obligations and mitigate operational danger whereas additionally reaching a discount in handbook back-office overhead. We’re excited to assist broaden the viewers that CreditorWatch can attain, whereas bolstering the capabilities that LAB Group can supply to its current and new prospects.”
CreditorWatch CEO and Co-Founder, Patrick Coghlan, stated, “We’re at all times excited to work with companies which might be as revolutionary and dedicated to enhancing the client expertise as LAB Group. The synergies between our companies will most undoubtedly lead to some very thrilling outcomes. We sit up for contributing to the subsequent stage of LAB Group’s evolution by way of the supply of our distinctive knowledge.”
