As a result of the partnership, Lab Group will enable Ironbark to optimise its digital client engagement experience. More precisely, according to the official press release, the regtech and onboarding provider will facilitate the automation of several manual steps for the management solutions company, including digital identity verification and connectivity into State Street, Ironbark’s main registry provider.
Representatives from Ironbark emphasised in the official press release that, via this partnership with Lab Group, the company strives to provide its clients with a digital onboarding solution that addresses the initial application process. Consequently, Ironbark’s clients are expected to be provided with an optimised sign-up process, both for direct and adviser-led prospects.
The partnership between LAB Group and Ironbark Asset Management is an expansion of a previous reseller arrangement between the Australia-based regtech and onboarding provider and State Street.
By adding Ironbark to the LAB Platform, LAB Group aims to extend its Onboarding Framework. According to the official statement, advisers and intermediaries will also have the option to originate applications into Ironbark on behalf of their clients. Moreover, Ironbark is also leveraging LAB Verify to automate a raft of identity and entity verification requirements. For Lab Group, the partnership provides it with access to new direct investor end-users, enhancing the scope for referrals.
Ironbark Asset Management is a provider of investment solutions for retail, wholesale, and institutional clients in Australia. Its offerings cover a range of asset classes, including equities, alternatives, fixed income, property securities, and private markets.
Lab Group is a regtech providing a Know Your Customer (KYC) and onboarding platform that complies with anti-money laundering (AML) and counter-terrorism financing (CTF) regulatory needs. The platform offers automation for account creation and customer lifecycle management, whilst leveraging remediation and ongoing customer due diligence processes.
The Software-as-a-Service (SaaS) platform brings together digital client acquisition, ID verification, biometrics, workflow management, fraud protection, and compliance services, allowing businesses to stay compliant with new regulations and cater to customer expectations.
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