It offers estate agents a way to significantly cut compliance costs
Digital homebuying platform OneDome has launched what it calls a first-of-its-kind offer, providing estate agents unlimited free digital Know Your Customer (KYC) and anti-money laundering (AML) checks.
The initiative brings banking-grade compliance tools, used by financial institutions such as Barclays, Starling Bank and Revolut, directly to the estate agents at no cost.
The service covers identity verification, document authentication, live video face matching, and AML screening and is available to all client onboarding processes. It offers estate agents a way to significantly cut compliance costs, with potential savings of thousands of pounds per year, and simplifies procedures by delivering a detailed digital report and risk assessment.
“The cost of KYC and AML checks disproportionately affects smaller agents due to volume,” said Babek Ismayil (pictured), chief executive at OneDome. “Through our platform’s high volume of checks, we benefit from favourable rates, enabling us to offer them for free to the agents we collaborate with.”
In addition to AML checks, OneDome’s offerings include transaction management services, which support estate agents through the entire purchase and sales process. The platform’s digitised transaction management and Property Moving Assistants aim to enhance efficiency and expedite the completion process both agents and clients.
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