1st June 2022
Sydney, Australia – Australia’s most connected account opening platform provider, LAB Group (“LAB” or “the Company”), is pleased to announce that it has delivered a new integration via partnership with Praemium Ltd (ASX: PPS) (“Praemium”), which will simplify digital client management for users of Praemium’s platform.
Praemium (ASX: PPS) is a leader in the provision of technology platforms for managed accounts, investment administration and reporting. Praemium services more than 300,000 investor accounts covering over $260 billion in funds for more than 1,000 financial institutions and intermediaries, including some of the world’s largest financial institutions. This strategic integration between LAB Group’s KYC and onboarding platform and Premium’s platform technology creates efficiencies for the users of both systems by further enhancing the connectivity and the automated data flow of both platforms.
Financial planners and advisers using Praemium can now benefit from LAB Group’s unprecedented and comprehensive oversight of the new client application process.
Marcus Today, a leading independent Australian stock market newsletter and provider of Separately Managed Accounts (SMAs) who uses Praemium’s platform technology to administer its clients SMAs was seeking an integration to facilitate their non-advised clients onboarding and LAB Group was the preferred solution to automate, enhance and gain insights into its clients onboarding process.
Marcus Today founder and director, Marcus Padley, said:
“We are delighted by the impact LAB Group has had on our operations. Its platform has transformed how onboarding is managed within Marcus Today and has measurably improved our user experience.
“Building on our history together, we couldn’t be happier to now see LAB and Praemium integrate, as this will streamline the user experience further for all of our investors. We have long viewed this integration as a key part of our strategic journey and are glad to report it is now working as planned, providing us with immediate insight into our new clients’ onboarding journey. LAB Group has proven itself to be a strong partner to Marcus Today and the market leader in secure onboarding.”
Nick Boudrie, CEO of LAB Group, said:
“Through our new partnership with Praemium, we are excited to deliver another integration for our digital onboarding platform. With Praemium an increasingly strong independent wealth technology platform provider in Australia, we see immediate potential to expand the scope of this integration to LAB clients around the globe.
“As the most connected digital onboarding platform in Australia, we are firmly committed to the rapid expansion of strategic integrations like this with Praemium, to continue enhancing our client’s product origination, distribution and fulfilment through the LAB Network.
“We remain committed to maintaining our advantage as Australia’s most connected digital onboarding platform. As our network continues to strengthen across financial services and other industries, we look forward to building out more upstream and downstream connectivity as we work toward our strategic goal of leadership in data automation across our chosen markets.”
About LAB Group Services Pty Ltd
Where welcome onboard begins.
LAB is a RegTech providing an innovative KYC & Onboarding platform that revolutionises the customer journey from the very first steps, fulfilling AML/CTF regulatory needs whilst saving time and resources by providing a high degree of automation for account creation and customer lifecycle management using remediation and ongoing customer due diligence processes.
The LAB platform welcomes tens of thousands of people into hundreds of financial product offerings across over 15 industry verticals, matching applicants with a vast array of market offerings.
Connect to more people in more places.
Connect into the LAB Network that leverages strategic partnerships and integrations to enhance product origination and distribution.
Hundreds of regulated entities around the globe connect through the LAB Network to accelerate customer registration, reduce onboarding time, increase security, and achieve higher completion rates.
The leaders in secure onboarding.
LAB’s continually advancing platform empowers our businesses to stay ahead of rapidly changing compliance regulations and evolving customer experience expectations.
Our Software-as-a-Service (SaaS) platform provides a fully compliant, end-to-end, multi product digital onboarding process. LAB seamlessly connects digital client acquisition, ID verification, biometrics, workflow management, fraud protection and compliance services on a single platform.
Become part of the most connected digital onboarding platform.
With LAB’s unmatched connectivity, we get you to market sooner through our sector-agnostic integrations and transformational data automation.
Discover more at https://labgroup.com.au/