As the litigation funding industry continues to mature, the focus of industry leaders will naturally shift from providing the core service of capital provision, to finding ways to innovate and modernize the practice. A new partnership between the UK’s largest panel of litigation funders and a software company demonstrates this drive to optimize the customer experience.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
As the litigation funding industry continues to mature, the focus of industry leaders will naturally shift from providing the core service of capital provision, to finding ways to innovate and modernize the practice. A new partnership between the UK’s largest panel of litigation funders and a software company demonstrates this drive to optimize the customer experience.
This week’s announcement of a partnership between Sentry Funding and Verify 365 looks to set the industry benchmark for anti-money laundering (AML) and client verification practices in the litigation funding industry. The partnership will allow Sentry to utilize Verify 365’s Digital Onboarding Platform, to optimize the process of onboarding new clients in terms of AML/KYC verification.
Sentry Funding’s commercial director, Tom Webster, stated that the primary benefits for the company will be increasing both the speed and transparency of compliance checks when working with new law firms and clients. Rudi Kesic, CEO of Verify 365, highlighted that his firm’s platform will allow funders to reduce any fears or hesitation from clients that working with litigation funders could lead to potential issues around fraud or money laundering.
