Legl offers a modular, cloud-based platform that automates client onboarding and compliance processes for law firms through tools like KYC, AML, and digital payment solutions. By streamlining these workflows, Legl reduces onboarding time to under one day and saves firms over 400 billable hours monthly, enhancing operational efficiency and cash flow.
Funding
Funding not disclosed
Founders
Product
Problem
Law firms face challenges in efficiently managing client onboarding and compliance processes, which often involve manual tasks and disparate systems. This can lead to delays in onboarding, increased administrative overhead, and potential compliance risks related to KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations.
Solution
Legl offers a modular, cloud-based platform designed to automate and streamline client onboarding and compliance workflows for law firms. The platform provides a suite of tools, including KYC and AML checks, digital payment solutions, KYB (Know Your Business) verification, and source of funds verification, all integrated into a single system. By digitizing and automating these processes, Legl reduces onboarding time, minimizes manual errors, and enhances compliance with regulatory requirements. The platform also offers operational dashboards that provide real-time insights into client onboarding activity and performance, enabling firms to optimize their processes and improve the client experience.
Target Audience
Legl primarily targets law firms seeking to improve the efficiency and compliance of their client onboarding processes, including compliance teams, fee earners, and firm management.
Features
- Modular design allowing firms to select and integrate specific tools based on their needs
- Automated KYC and AML checks, including identity and biometric confirmations, financial and watchlist screening, and ongoing monitoring
- KYB verification to unwind complex corporate structures and optimize regulatory compliance
- Digital payment solutions to facilitate faster payments and improve cash flow
- Source of Funds verification to streamline compliance
- AI-powered summaries and risk assessments to enrich Customer Due Diligence (CDD) checks
- Client Matter Inception (CMI) workflows to replicate and centralize existing client onboarding processes
- No-code workflow customization to tailor processes for specific clients or departments
- Client onboarding funnels providing visibility into onboarding status and required information
- Operational dashboards for real-time oversight of AML audits and process optimization
- Integrations with practice management systems such as P4W, ALB, Proclaim, DPS, Quill, and Actionstep