LAB Verify – LAB Group

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LAB Verify

LAB Verify is an easy-to-integrate API solution for all your verification needs

LAB Verify accelerates customer verification directly into your digital onboarding journey. Organisations across multiple industries use LAB Verify to validate AML, KYC, KYB, & PEP Sanctions for all entity types through an API solution.

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Onboarding is no longer static; customers flow across jurisdictions and markets.
Acquisition is no longer manual and slow.
The future is frictionless; LAB Verify accelerates customer verification directly into your digital onboarding journey.

LAB Verify is an easy-to-integrate verification solution for all entity types that reduces onboarding time, costs, and the risk of regulatory fines.

• One API to consume all your verification needs
• API consumes and distributes data for Identity, Corporate Verification, PEP &
‏‏‎ ‎‏‏‎ ‎Sanctions Screening, Document Validity, and International Datasets
• Supports all entity types recognised under the AML/CTF legislation
• Helps organisations to automate AML and KYC verification for all entity types
• Produces a detailed response base on predetermined rules and logic
• Built to handle complex cross-regional verification needs
• Provides seamless country-of-origin verification and fraud prevention services
• Can work within the LAB Platform or as a stand-alone component to support
‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎another onboarding framework

LAB is ISO27001 certified and GDPR compliant, only temporarily handling customer data to activate accounts with depersonalisation applied to all audit trails.

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LAB Verify accelerates customer verification to meet the rapidly changing customer and regulatory requirements
across products and jurisdictions.

Financial Services

AML
KYC
KYB
KYT
CTF
FATCA
CRS

Other Industries

Tranche Two (AML/CTF Legislation)
Australian Communications and Media Authority (ACMA) Reducing
Scam Calls and Scam SMS (Industry Code C661:2022)
Tax Practitioners Board (TPB) Proof of Identity Requirements
Liquor and Gaming NSW Age Verification Requirements

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Solutions

Onboarding

The LAB Dynamic Onboarding Framework and Application Manager are fully integrated onboarding solutions. Increase your application completion rate by more than 65% and quantifiably improve your Return on Advertising Spend by providing a simplified online application process.

Identity

Our identity verification checks are automatic, complete within seconds and if successful eliminate the need for certified identification documents. Expect to see a dramatic fall in application rejection rates of up to 50% after integrating with the LAB Dynamic Onboarding Framework.

Integration

LAB Group has established API connectivity to a number of industry systems which means you get the cost efficiencies by leveraging the connectivity and experience that we’ve accumulated. Reduce onboarding timeframes to hours from weeks.

Press Play

Cloud Based Application Manager

LAB’s Application Manager is used to View, Manage and Support your customer applications. Follow up leads with automated email reminder functionality, manage workflows and monitor the progress of applications from beginning to end.

Know when a customer application is initiated using a Virtual Private Network, reducing fraud risk and utilise internal identity reverification methods that can be managed by authorised staff. You will also gain access to reporting functionality with conversion and acquisition insights and the ability to manage exceptions that prevent a customer from completing an application.

Reduce time spent in chasing identification documents and accelerate the customer onboarding process.