The ASX-listed fintech group helps Australian Financial Services Licence (AFSL) holders to comply with their regulatory obligations by offering them a SaaS-based technology that digitises compliance, capital raising and operational functions.
Under the tie-up, LAB Group will integrate its client onboarding platform with Complii’s web-based compliance solution.
The move will provide customers of both the companies access to a single solution that enables digital onboarding, account opening, compliance and operational capabilities at the organisation, adviser, client and investor levels.
Complii combines data from multiple sources including clearing and settlement providers to ensure investors are profiled and issued compliance documentation accordingly.
LAB Group expects the integration to be advantageous to its wealth advisory and stockbroking client base, it said.
Complii executive chairman Craig Mason said: “We are pleased to partner with LAB Group to deliver an integration between our respective platforms. We and our clients are familiar with LAB Group, as until now we would frequently see advisers rekey LAB-generated account holder information into Complii’s portal in order to create Statements of Advice.”
LAB Group CEO Nick Boudrie added: “Partnerships such as the one between LAB Group and Complii support our drive to deliver not just automation and efficiency to the financial services industry, but also best-in-class streamlined identity verification at a time of rising concerns regarding fraudulent banking activity. We look forward to supporting Complii’s strategic growth plans through this integration and exposing our platform’s capabilities to a broader audience.”