|By RealWire News Distribution||
|February 21, 2013 03:41 AM EST||
Zylpha (www.zylpha.com), the UK's leading innovator of secure document production and distribution systems for the legal profession, has launched a new system which enables practices to automate the regulatory compliance processes required for accepting new clients. Under current compliance legislation related to KYC (Know Your Client) and AML (Anti Money Laundering) regulations, lawyers cannot start work on a case until they are satisfied that the client information provided is correct and that they are acting in good faith. With the new Zylpha system in place, this is now possible in a fraction of the time previously taken using the post. It also removes the need for a fee earner to be involved.
The new Zylpha system automates the process by feeding basic client information, such as name, Date Of Birth, and address information, into a leading Identity Verification Portal. This process verifies the new client's identity in full and also verifies that they are not listed as a "Politically Exposed Person" (PEP) or on the Terrorist and Sanction warning lists. In addition, the system will automatically store the results in a practice's Case Management System (CMS) therein triggering its workflow to notify the fee earner and other relevant staff to proceed with the case. Automatic warnings can also be sent to the MLRO (Money Laundering Reporting Officer) in the event that a potentially high-risk client is identified.
As the lawyer cannot start until the client has accepted the practice's terms and conditions, Zylpha automatically and securely delivers these from the firm's CMS through the EchoSign Electronic Signature system from Adobe. This innovative use of digital signature technology delivers full compliance by proving acceptance electronically. These records are also automatically stored in the practice's Case Management System (CMS) which in turn then triggers the practice's Workflow to confirm that the T's & C's are fully accepted.
The new system cuts the time taken to complete all the process involved to a matter of minutes. It eliminates the time taken with the traditional approach of posting documents and then awaiting signature and safe return. More importantly, it eliminates the need for fee earner involvement.
Commenting on the new system Tim Long, Zylpha's MD said; "The profession is under conflicting pressures. On one hand they have to meet strict compliance and yet they are also expected to reduce client billing wherever possible. Only by making compliance easier and more robust for the lawyer are these opposing issues resolved.
"At Zylpha we are looking at all the labour intensive and paper based processes found in practices and aim to increase their viability greatly in the high-volume, low unit billing markets such as conveyancing and debt collection."
Zylpha is also seeing demand for integration with more and more case and document management solutions. Integration with Solcase® and Visualfiles® is already in place and Zylpha has recently added a number of complementary system companies to its list of partners including: Peppermint, Atkinson Lewis, Thomson Elite and Peapod.
About Zylpha (www.zylpha.com)
Headquartered in Southampton Zylpha is an innovative specialist in secure electronic document production and delivery. The company, which was founded by Tim Long its MD, has won widespread acclaim in both the legal and local government sectors for it systems which transform secure communications for court and case management bundles.
Zylpha Users include: Speechly Bircham, Ashton KCJ, London Borough of Hounslow, London Boroughs of Richmond and Merton and Moore Blatch
For more information please contact:
T: 01962 /658881
M: 07917 301496
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T: 0844 / 561 7586
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