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New client POI rules drive tax and BAS agents to Annature

What you need to know

New Proof of Identity (POI) regulation introduced in February this year for BAS and tax agents onboarding new clients has had many scrambling to accommodate.

Now November, Australian Bookkeepers Network (ABN) partner and Aussie digital signing provider, Annature, has seen over ten thousand bookkeepers and tax agents sign-up for their POI app which was purpose-built just to meet these new regulations.

Annature Founder, Corey Cacic, says that the company’s quick pivot to develop this product within weeks of the new regulation gave bookkeepers a safe solution without having to pay for all the extras.

“With our core eSigning product popular with bookkeepers, we were well placed to move quickly with POI just for this industry,” said Corey. “Other offerings capture all the typical 100 points of ID, way more than you need for this regulation, which creates unnecessary steps and frustration for everyone involved.

“We tailored our POI just to capture the four simple things BAS and tax agents need to onboard new clients,” said Corey.

The new regulations brought in to help minimise business fraud requires BAS and tax agents to check and record a new client’s full name, date of birth, and address against their photo ID.

ABN Director, Peter Thorp, welcomes this kind of innovation from the Aussie fintech industry which has allowed bookkeepers simpler solutions to meet changing regulations and client needs.

“Our Aussie fintech industry is booming and this is a great example of how our bookkeeping sector is being supported by this innovation,” said Peter. “I’m pleased we’re working in partnership with innovators like Annature through events and panel discussions, which unlocks potential to make advisors’ role easier.”

To understand the regulations for onboarding new clients and to enhance the client verification process, visit the TPD website and/or the ATO website.

Annature encourages ABN members to enquire about POI and eSigning tools on their website.

Category
ABN
Published
15 Nov 2022
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