Jones & Co + First AML

Jones & Co is a full-service law firm with 70 staff operating across North Nottinghamshire and South Yorkshire. The firm faced significant challenges in their compliance processes. 

“We were using eCOS via Infotrack," says Andrew Bevan, a partner at the firm. “It was useful because it integrated with our practice management system, but we had issues. It was compliant, but it was difficult to evidence, and lengthy to process the required AML checks.”

To address these issues, they sought a solution that could streamline their processes and enhance overall operational efficiency.

Search

Jones & Co. discovered First AML through a recommendation from a deputy MLRO at another firm.

“I wasn’t particularly happy with eCOS, but we weren’t actively looking for a replacement,” Andrew explained. “However, after First AML was recommended to us, we decided to explore other options.”

The firm considered another AML provider, but ultimately, the speed and compliance features of First AML convinced Andrew to make the switch.

Solution

When asked to describe the onboarding process using First AML, Andrew highlights it as “compliant, easy to evidence, and efficient.”

"Compliant, easy to evidence, and efficient."

Several factors stood out to Andrew. Firstly, the ease of compliance was a significant appeal. He explained, “If audited, First AML allows us to pass login details to the auditor as a one-stop shop.”

“The buzzword for me is ‘evidence’,” says Andrew. “You can speak ‘til you’re blue in the face to the regulators telling them you’re compliant, but they’ll all say the same thing – ‘prove it.’”

With other systems, finding the AML information would be time-consuming, requiring logging into the system, pulling each individual file, and parsing through case notes and emails.

“The beauty with First AML is that you can just give them the logins and say, ‘here you go.’”

Speed and efficiency were also crucial benefits. Andrew noted, “With First AML, it’s all there – it comes up on my homepage, it’s all there for me to look at, and it’s a lot quicker.”

Another influential factor in the decision to switch was First AML’s proactive engagement with industry bodies, continuously seeking feedback to improve the product. “It’s a progressive company and system,” Andrew concluded.

Outcome

Implementing First AML’s platform, Source, has significantly reduced the administrative burden and enhanced operational efficiency.

A typical response time for compliance checks under the old system ranged from one to two days and involved multiple steps. With Source by First AML, the firm’s process was streamlined, allowing document requests to be sent out in less than half the time.

“Under the current system, it’s a day – there’s very little typing to do, and the other thing is that if there is an issue, I already have all the information, so it speeds up any problematic issues.”

"With Source by First AML, the firm’s process was streamlined, allowing document requests to be sent out in less than half the time."

Conclusion

First AML has considerably improved Jones & Co.’s compliance operations by providing a comprehensive, efficient, and scalable AML solution. The platform’s ability to provide easily evidenced compliance has streamlined future audits, eliminating the need to log into multiple systems and search through case notes and emails. Additionally, the speed and efficiency of the platform has reduced compliance check response times from 1-2 days to less than a day, significantly cutting administrative burdens.

This efficiency allows the firm to focus more on billable work, while First AML’s continuous improvement and alignment with compliance standards makes it a reliable solution for Jones & Co.