First AML, the global AML scaleup, today announced the launch of its new self-service platform, Source, designed to revolutionise anti-money laundering workflows for compliance professionals and teams. The new platform offers an unrivalled choice for organisations with complex or multinational onboarding requirements, delivering streamlined collaboration and ensuring AML consistency.

Created for compliance teams in the law, real estate, accounting and finance sectors, Source empowers businesses to save valuable time, reduce costs and eliminate frustrations associated with AML compliance. Whether it's simple EIV checks or tackling the most challenging and high-risk compliance areas, the platform equips organisations with the tools and capabilities to handle it all seamlessly from one platform.

Key features include access to over 300 global corporate registries covering more than 100 countries, AI-enabled identity verifications, compliance automations, data collection decisioning, real-time case visibility, AML intelligence, and risk-tolerance flexibility, all from one platform. With this comprehensive suite of functionalities, finance firms can increase onboarding efficiency, enhance compliance workflows, maintain consistent compliance processes, and reduce the risks of data security and privacy breaches.

"We are proud to introduce First AML Source as the go-to solution for accounting firms grappling with complex onboarding processes and evolving AML requirements," said Milan Cooper, CEO and Co-Founder of First AML. "Our next generation platform is purpose-built to empower organisations to orchestrate and navigate the intricacies of AML compliance effortlessly, ensuring efficiency, accuracy, and peace of mind. Beta users have told us they have seen a 70% efficiency increase with using the platform."

“The manual process we had before was so tedious. I’d recommend anyone wanting to streamline their CDD / KYC processes to utilise First AML's Source.”

- Rebecca Black, Administrative Manager, Cleaver Partners

First AML Source comes at a crucial time when businesses across all industries face mounting regulatory challenges, rising costs and the need for robust AML measures has never been more critical. Source by First AML serves as a one-stop solution, equipping organisations with the necessary tools to navigate global compliance requirements effectively.

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