LAB Group Integrates with FinClear to Simplify Client Onboarding

LAB Group integrates with FinClear’s HIN platform to simplify client onboarding for financial advisersHighlights:

• LAB Group has partnered with leading technology and financial market infrastructure provider, FinClear, to integrate LAB Group’s customer onboarding platform, LABform, with FinClear’s HIN platform for institutional and retail securities brokers
• The newly completed integration with LAB’s interface allows FinClear to extract AML/KYC and account opening information from a LABform online application and automatically create an account record, making the end-to-end onboarding process far more efficient, scalable and cost-effective
• The integration allows for quicker trading for a client and reduces the risk involved with manual data inputs between systems enabling flexible trading and investing
• With plans to offer the integration to Australian Stockbroking and Wealth Management groups, the first organisation already benefiting from the integration is Euroz Hartleys Ltd, the largest Stockbroking and Wealth Management firm in Western Australia

Australia’s leading financial services KYC & onboarding platform provider, LAB Group, is pleased to announce that it has partnered with leading technology and financial market infrastructure provider FinClear to simplify digital client acquisition and onboarding for FinClear’s Stockbrokers and Wealth Managers.Under the partnership, LAB Group has integrated its highly standardised client onboarding platform, LABform, with FinClear’s iBROKER back-office system, an established and reputable post-trade system designed for the Australian market and catering for retail and institutional investors in the equities and derivatives markets.As part of the partnership, LAB Group has provided FinClear access to its comprehensive Application Programming Interfaces (APIs) for Australian Stockbroking firms, through which these firms’ personnel can securely onboard new Wealth Management clients rapidly and at scale.The LABform API allows FinClear to extract application data entered into a LABform online application.This “Completion” API service is designed to provide a source of raw data and artifacts for completed applications to clients or third parties on request.Euroz Hartleys is the first FinClear business to leverage the API and benefit from the integration. Euroz Hartleys is the largest Stockbroking and Wealth Management firm in Western Australia. LAB Group plans to extend API integration to additional FinClear clients throughout the Australian Stockbroking and Wealth Management community.LAB Group co-founder and Chief Technology Officer, Lyndon Webster, said:“Achieving a true straight-through process for customer onboarding is the ultimate goal and now we have completed this FinClear integration we are excited to be able to offer this capability to other customers.”  “Instead of rekeying information from one system to another LAB and FinClear are now fully integrated, which makes the end-to-end onboarding process far more efficient, scalable and cost-effective.”FinClear Chief Operating Officer, Andrea Marani, said:“We are excited to deliver integration with LABform to our iBROKER and TradeCentre clients. Establishing this connection will provide convenience for financial advisers and their clients and facilitate a flow of business through integrated channels. The streamlining of the account establishment process will save our clients time which they could spend talking to their clients.”Euroz Hartleys Chief Operating and Financial Officer, Anthony Brittain, said:“Euroz Hartleys has been a client of LAB Group since 2012 when we were one of the first stockbrokers and financial advisers to adopt their market-leading technology.  Following our acquisition of Hartleys and the continuation of the relationship with FinClear we have been delighted to extend the integration of LABform and iBROKER to ensure we continue to save significant manual labor on processing and facilitate the origination and population of new client applications efficiently.”

About LAB Group Services Pty Ltd

LAB Group provides streamlined digital customer acquisition, identity verification, and onboarding technology, including a complete suite of regulatory and compliance functions to the financial services industry globally.LAB Group’s digital customer acquisition and onboarding Software-as-a-Service supports a seamless, secure, and compliant customer journey with continuous improvement through compliance monitoring, advanced analytics and implementations.LAB’s technology continuously evolves to meet the constantly changing Know Your Customer and Compliance demands of regulators.Partner with LAB Group to transform your customer acquisition and onboarding process and accelerate your business growth: https://labgroup.com.au/.

About FinClear Pty Ltd

FinClear is a leading provider of technology, trading infrastructure, and ASX market-access services to wealth, stockbroking, platform, and fintech customers. The FinClear Platform runs the complete suite of trading and administrative functions for any company providing financial advice or wealth management, whether that be an adviser, stockbroker or fintech.FinClear is a full member of ASX and Chi-X and owns and manages all of its execution and settlement software through our TradeCentre and iBROKER products. FinClear either directly trades, clears, and settles or provides technology that services more than 50% of all retail equity transactions every day in Australia.

About Euroz Hartleys Limited

Euroz Hartleys Limited is a wholly-owned subsidiary of Euroz Limited (ASX: EZL), Western Australia’s leading financial services company. Euroz Hartleys is a leader in the provision of the full spectrum of corporate finance, stockbroking, wealth management, institutional sales and targeted research services.Over a long period of time through the provision of consistent service and dedication, Euroz Hartleys has developed strong, loyal and long-standing relationships within the WA investment and corporate community. Based in Perth, Euroz Hartleys combines the client engagement of a boutique firm with the financial backing and resources of a larger group to deliver dynamic wealth solutions to institutional, corporate and private clients.