Ord Minnett appoints LAB Group to automate digital onboarding

LAB Group, a leading international RegTech and Australia’s best-connected onboarding provider, have welcomed Ord Minnett to the LAB Network.

Ord Minnett (Ords) is an Australian owned advice and investment services firm, offering financial advice and investment management for individuals, families, businesses and organisations, enabling them to protect and grow their wealth. With corporate origins dating back to 1872, Ords currently has more than A$62 billion in Funds under Advice (FUA).

Ords will benefit from LAB Group’s  Client Lifecycle Management Framework and Application Manager. These solutions provide digital workflows to improve the client journey, accelerate complex client onboarding and securely verify client information. The solution has been successfully operating since December 2023.

With Ords also subscribing to LAB Group’s Initiate, Completion and Single Sign On APIs, the solution will incorporate seamless integration to FinClear, Ords’ provider of clearing and settlement services.

Nick Boudrie (pictured), CEO and Co-Founder of LAB Group, said, “We’re excited to bring our best-in-class suite of digital regtech tools to support Ord Minnett’s adviser and client network. Ords has built wealth for generations of Australian investors as their trusted partner, and we look forward to helping to accelerate and improve their customer journey.”

Ord Minnett Chief Operating Officer, Philip Chu, added, “We are pleased to partner with LAB Group and bring their technology into our processes. Integrating LAB Group’s products with our existing platforms will bring significant efficiency gains to our advisers and their teams. We are also pleased to gain the significant connectivity across products and jurisdictions that comes with joining the LAB Network.”