As Accountable Institutions, Law Firms are required to comply with FICA. LegalSuite and DocFox understand that in your law firm, every hour counts, and so spending a huge amount of time on FICA compliance can be costly.
The integration between LegalSuite and DocFox was created to speed up the Know Your Client (KYC) / FICA process by reducing the amount of time spent on data collection and capturing. Now all your clients documents can be accessed from one system.
The integration enables your practice to:
· Conveniently collect documents
Request a party to upload documents directly to DocFox as well as download any documents into the party’s Document Log that were uploaded directly to DocFox from the party.
· Send details from address book
Send your party’s details directly to DocFox from the LegalSuite Address Book, DocFox will then automatically perform comprehensive watchlist and adverse media screening.
· Perform FICA at the right time
FICA requires law firms to verify their identity and assess the risk of doing business with them, prior to commencing a business relationship.
· Seamless document verification
Upload documents to DocFox for qualitative and quantitative checks. Comparisons are done against 3rd party data and profile information.
· Standardised risk rating and PDF summary
Risk rate a party and download a PDF summary to illustrate that FICA was done.
Looking for more detailed information?
Read more about the DocFox & LegalSuite integration by clicking here.
