Inspire Legal selects First AML to increase AML confidence

The anti-money laundering scaleup empowers Inspire Legal by analysing Source of Wealth and Source of Funds evidence
First AMLJanuary 12, 20243 min

Yorkshire based law firm Inspire Legal has increased its confidence in its anti-money laundering compliance operations by adopting First AML

Inspire Legal was launched in 2020 and is at the forefront of legal tech. The firm found that due to specific Source of Wealth (SOW) and Source of Funds (SOF) compliance knowledge being limited to only one subject-matter expert, there were operational inefficiencies that slowed client onboarding. The firm needed a solution that offers support, is trackable, and could be accessed by lawyers remotely. 

By leveraging First AML’s solution, Inspire Legal gains an efficient way to monitor their commercial work for potential money laundering activity. The system automatically flags suspicious activities to Inspire Legal’s MLRO, such as an unusual source of funds in property deals. This simplifies compliance by consolidating AML checks in one place, giving Inspire Legal improved oversight and freeing up resources to focus on client needs. This has instilled confidence in lawyers and reduces the burden placed on senior leaders to complete these AML and KYC tasks.

Natalie Foster, Chief Executive Officer at Inspire Legal, commented: “At Inspire Legal we are committed to innovation, but our commitment to compliance always comes first. It’s the foundation of the legal industry. Our role is about instilling confidence in our clients and to do this effectively we need to be using the best tools. With First AML, we have just that, and we are able to foster confidence across the board: for our organisation, for lawyers, and for clients.” 

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!

First AML

newOriginal-white-FinTech1-1

We are one of the world’s leading Fintech-based media publication with our content strategized and synthesized to fit right into the expanding ecosystem of Finance professionals. Be it fintech live news, finance press releases, tech articles from Fintech evangelists or interviews from top leaders from global fintech firms, we give the best slice of knowledge topped up with the aptest trends. Our sole mission is to help tech and finance professionals step up with the rapidly emerging Fintech civilization and gain better insights to emerge victorious in every possible way. We adopt a 360-degree approach in order to cater to present a holistic picture of the fintech arena.

Our Publications



FintecBuzz, 2024 © All Rights Reserved