Instant Screening – Legl’s latest feature – enables you to effortlessly map, screen, and verify business owners and relevant key players in an instant.
Completing necessary due diligence and anti-money laundering checks on business clients can be a time-consuming affair – sucking up valuable billable hours with non-billable work.
With Instant Screening, firms can complete watchlist screening checks on directors, shareholders and PSCs at the touch of a button, streamlining and accelerating customer due diligence for business clients.
How does Instant Screening work?
Accessing Instant Screening is well… instant! If your firm has Legl’s Business Engage module, you can trigger instant screening checks directly from the company report dashboard.
The instant screening watchlist check provides immediate results, with no unnecessary back-and-forth with your client, saving everyone’s valuable time without compromising on risk and due diligence.
All Legl company reports provide a comprehensive structure and ownership chart of the business. From here, you can easily identify all the relevant persons and entities and effortlessly conduct the necessary due diligence reports – including persons of significant control, company directors, details of parent or subsidiary entities, and details of major shareholders and their shareholdings.
Speed up onboarding
A streamlined onboarding process is a key differentiator for clients when choosing a law firm.
25%
of firms have missed out on a client as a result of slow onboarding processes
32 days
is the average time for a firm to onboard a business client - with most of this time spent unwrapping convoluted corporate ownership structures
56%
of clients would factor in a firm’s onboarding process before instructing them
With Legl’s onboarding and compliance solution, law firms receive clear and concise details of company structure and ownership, credit risk, financial commentary, connected CCJs, and company history, as well as details of all identified persons of interest to the company.
Slow onboarding processes lead to lost business.
Manual onboarding | Digital onboarding |
|---|---|
| Repeating the same manual onboarding processes impacts law firms’ profitability because substantive work can’t begin until onboarding is complete | Unlock billable hours by automating repetitive and time-consuming tasks |
| Manual onboarding delays law firms starting billable work, often causing unhappy clients who want immediate work on the matters requested | Digital onboarding enables law firms to begin billing immediately |
| Disjointed information received through multiple emails, scans, and letters is frustrating and time-consuming | Secure link to upload onboarding documents for ultimate client convenience |
| Outdated face-to-face KYC checks involving paper ID documents delays onboarding | Simultaneous digital verification tasks enables rapid onboarding |
| Inconsistent visibility and risk exposure by not having the correct audit history – including viewed and signed documents, completed CDD checks, and flags raised | MLRO dashboard displays regulator-ready reports and full audit trails |
How can your firm benefit from Instant Screening?
Instant Screening is part of Legl’s all-in-one platform for legal payments:
- Open files in just a few minutes after accessing detailed company reports information.
- Run instant PEPs and Sanctions watchlist checks based on detailed company structure maps.
Legl gives your law firm the tools you need to collect client payments quickly and securely.
Ready to get started with Legl?
