Seamless onboarding with SQR builds trust and saves time for NM Accounting Services and its clients
In this case study we’ll unpack how NM Account Services effortlessly transitioned their client identity verification process using SQR.
NM Accounting Services, based in the Isle of Man offers a wide range of accounting services to its vast clientele. This small consultancy is headed by Neil Morrison and their services include VAT return support submission, monthly bookkeeping review and reporting, financial statements, cash flow forecasting, management accounts and QBO accountancy software.
Ensuring the confidentiality and integrity of client information is of paramount importance to this organisation.
The challenge:
NM Accounting Services’ primary challenge has always been the traditional identity verification process for its clients. This process was not only time consuming, but also posed the significant risk of fraud and errors. Clients had the added inconvenience of taking time off to meet in person and provide identity documents, as well as proof of address for manual photocopying and verification. NM Accounting Services’ clients obviously had the option of having their documents certified by an advocate, but that would be at an additional cost to the client.
The monitoring and processing of personal information for Politically Exposed Persons (PEPs) and Sanctions were especially time consuming, as the information required constant manual updating.
With such a diverse client portfolio, NM Accounting Services investigated a credible, yet simple solution which could save time, address their KYC needs, as well as verify client identity digitally.
The SQR solution:
NM Accounting Services found their solution in SQR’s eKYC platform. This platform uses trusted technology to securely verify and validate personal identity information, eliminating the need for manual document checks and significantly reducing the risk of fraud.
The SQR’s platform accepts over 1800 global ID documents, making it versatile and user-friendly for clients from diverse backgrounds. By using the SQR application to upload information, NM Accounting Services’ clients are now able to centrally and securely manage their portfolio from one free-to-use reusable account, easily proving their identity or eligibility for services without needing to share unnecessary sensitive data and always with consent.
For NM Accounting Services compliance and onboarding are no longer daunting tasks and the monitoring of PEPs and sanctions are now seamless, as the eKYC platform automatically flags issues for review. This new streamlined process has saved NM Accounting Services significant time and resources, allowing them to refocus and prioritise additional services.
Through innovation and collaboration with SQR and its eKYC platform, NM Accounting Services were able to address their traditional identity verification challenge and provide clients with a smart and secure way to verify identity. The robust verification process of SQR reinforced trust with the organisation’s clients, providing them peace of mind. Added convenience of providing proof of ID and address to multiple other organisations via the SQR application and without leaving the house has been a huge win.
A quick overview:
SQR’s platform streamlined the onboarding process for clients, allowing them to verify their identities effortlessly using the application on their mobile devices.
- The platform’s enhanced security features ensure that personal information remains confidential, reducing the risk of fraud.
- Continuous monitoring and automatic updates for PEPs and Sanctions saves significant time and resources.
- SQR’s robust verification process reinforces trust with clients and provides peace of mind.
The outcome:
Since the implementation of SQR’s eKYC platform, NM Accounting Services has achieved remarkable improvements. This transformation not only improved the organisation’s operational efficiency, but also strengthened its reputation as a reliable and trustworthy accountancy service provider in the industry. As a result, NM Accounting Services has experienced significant growth, with an influx of new clients and increased referrals, further solidifying its position as a leading accounting consultancy in the field.
Interested in finding out more?
Get in touch with the SQR team if you’d like to know more about the eKYC platform by visiting www.sqr-group.com or email hello@sqr-group.com.
If you’d like to know more about NM Accounting Services’ offering, please visit www.nmaccountingservices.im or email info@NMaccountingservices.im.
