2Shakes Anti Money Laundering (AML) Extensions Promising Easy and Hassle Free AML Phase 2 Customer Due Diligence for
Accountants and Bookkeepers
2Shakes, a rapidly expanding client onboarding platform, is now emerging as a top choice amongst the New Zealand based
accountants and bookkeepers looking to comply with the AML Phase 2 that comes to effect for them on 1st October.
Wellington, NZ October 1st, 2018
2Shakes is delighted to reveal that numerous accountants and bookkeepers are now putting their trust on the company’s
recently launched Anti Money Laundering (AML) Extensions to comply with the upcoming rollout of the AML Phase 2 in New
Zealand. A highly rated cloud-based onboarding company, 2Shakes has spent the past one year in researching, designing,
and demonstrating their AML Extensions to numerous accountants, bookkeepers, lawyers, compliance experts and government
representatives. 2Shakes clients are excited about how the AML Extensions will help them to comply with the AML Phase 2,
which was introduced to them on 1st July, 2018.
“We have been amazed at the uptake of 2Shakes with our AML extensions, and having been getting some really great
feedback from customers.” said Mike Kelly, the CEO of 2Shakes.“It has been really humbling when people have said they
considered stopping providing some of their services, or turning away some customers, because of the AML admin they’d
need to do.”
The New Zealand government has recently made several changes to the Phase 1 of the Anti-Money Laundering and Countering
Financing of Terrorism (AML/CFT) Act that has been in force since 2013. According to Phase 2 of the law, businesses are
now required to put together preventative measures to help tackle money laundering and financing of terrorism. AML Phase
2 will be applicable to the accountants and bookkeepers in New Zealand starting from October the 1st.
As experts in automating onboarding processes, 2Shakes has extended their existing cloud software to deliver a range of
smart AML/CFT features to help users comply with the regulatory changes. With 2Shakes, the AML Customer Due Diligence of
the users remain embedded as part of the onboarding process. Therefore, the accountants and bookkeepers will have to use
just a single application to receive an automated, efficient, repeatable and auditable CDD solution securely stored in
the cloud. 2Shakes also helps at audit and reporting time, automatically creating CDD reports per client, as well as CDD
statistics required for annual reporting.
“We have found AML add on really really beneficial” says Clare MacGregor, Client Services Co-ordinator at Figuration
“it’s easy to use, it’s simple and the extra add on just gives you a good peace of mind”
With the release of the 2Shakes AML Extensions, accountants can sign up a new client, get authority to act for them with
government, and carry out legislated AML customer due diligence checks in about 10 minutes instead of two or more hours.
Most importantly, the clients will be able to perform the critical tasks online on their own, including signing and
proving their identity. In the near future, this can be an excellent compliance solution for real estate agents, for whom the AML Phase 2 will
be rolled out on 1st January, 2019.
2Shakes has been a part of R9 Accelerator, a Result 9 Better for Business initiative under the NZ Government's Better
Public Services program. The company’s efficient onboarding solution is currently used by more than four hundred
businesses, many of whom have already started using the new AML features. The development of the AML Extensions has been
funded by Callaghan Innovation, Data Futures Partnership and The Innovation Fund powered by Westpac and All of
Government. With an ambitious expansion plan, 2Shakes is currently seeking investment to expand into the UK market.
Given the generous support they have received, 2Shakes is able to offer their software at an extremely competitive
price, with the objective of getting as many businesses benefitting from their innovative solution as possible. All
2Shakes customers receive their first ten agreements completely free of charge, with all features, full training
environment, as well as online help and tips. Following this, users may opt to pay per agreement or a fixed monthly
subscription of $30. All plans from 2Shakes now include the AML Phase 2 extensions.
To find out more, please visit http://2shakes.co.nz/
About 2Shakes: 2Shakes is a New Zealand based onboarding platform helping bookkeepers, accountants, tax agents,
financial advisors, and many other professionals to save time, effort, and frustration in their onboarding process. The
company has just released their new Anti Money Laundering (AML) Extensions to help their clients comply with the
requirements of the upcoming Anti Money Laundering Phase 2.