PSA Solutions, a Nordic technology and consulting company, has entered a strategic partnership with Strise, a leading anti-money laundering (AML) automation specialist, to address the growing compliance challenges facing law firms in the UK and Nordic regions. This collaboration aims to equip legal firms with advanced tools to meet increasingly stringent AML regulations efficiently, reducing manual workloads while enhancing risk detection and regulatory adherence.
Integrated AML Technology to Simplify Compliance
The partnership integrates PSA Solutions’ Custodian Client Onboarding system—a widely adopted solution among law firms—with Strise’s cutting-edge AML automation platform. The combined platform is designed to streamline compliance efforts by automating critical AML processes such as client due diligence, ongoing monitoring, and risk assessment. It enables firms to consolidate fragmented client data and meet regulatory expectations without navigating multiple disconnected systems.
The partnership offers several key functionalities:
- Automated Know Your Business (KYB) and due diligence processes that rapidly identify low-risk clients and automatically escalate high-risk cases, with real-time data updates.
- Visualization and mapping of complex and cross-border ownership structures to uncover the ultimate beneficial owners, addressing opacity in ownership.
- Enhanced sanctions compliance with continuous monitoring against UK-specific sanctions lists as well as global watchlists, reducing the risk of accidental breaches.
- Continuous alerting on important changes such as ownership, Politically Exposed Persons (PEP) status, sanctions exposure, and adverse media to detect early signs of risk escalation.
- Holistic risk assessment that combines data on ownership, PEP status, sanctions, negative news, and network risks into a unified risk view.
Addressing Critical AML Weaknesses in Law Firms
The Solicitors Regulation Authority’s recent sectoral risk assessment highlighted persistent weaknesses in law firms’ AML compliance—particularly in source-of-funds checks, opaque ownership structures, sanctions breaches, and insufficient ongoing monitoring. The PSA-Strise integrated solution has been explicitly developed to address these challenges, providing law firms with a robust technology platform to improve operational resilience and regulatory compliance.
Proven Expertise and Industry Recognition
Strise has already established a solid reputation as a leader in AML automation, serving major financial institutions including Corpay, Sparebank 1, Storebrand, Vipps MobilePay, and Nordea. By extending these capabilities to the legal sector through PSA Solutions’ trusted Custodian platform, the partnership aims to replicate success in financial compliance within law firms.
Statements from Industry Leaders
Bjørn Tore Aurlien, Senior Director at PSA Solutions, remarked:
“UK firms face rising expectations around anti-money laundering and sanctions compliance. By connecting Strise’s proven AML technology to Custodian, we provide law firms with a powerful solution to meet these obligations in a more efficient and reliable way.”
Marit Rødevand, CEO and Founder of Strise, added:
“This partnership combines the strengths of two industry leaders. PSA is a trusted provider to law firms, while Strise has pioneered AML automation for financial institutions that operate under strict compliance regimes. From now on, we can deliver this expertise to the UK legal sector.”
Implications for AML Compliance in the Legal Sector
As regulatory frameworks tighten, AML automation is becoming essential—not just to reduce compliance backlogs but to transform AML from a costly obligation into a strategic business function. Through artificial intelligence and automation, law firms can quickly identify and mitigate risks, thereby lowering the likelihood of regulatory infractions and reputational damage.
The PSA-Strise solution meets rising regulatory expectations by delivering:
- Faster and more consistent execution of AML checks, enhancing overall accuracy.
- Full audit readiness through comprehensive data trails and seamless reporting capabilities.
- Scalability to support growing law firms handling more complex client portfolios and transactions.
- Improved regulatory confidence due to proactive and transparent compliance processes.
Future Prospects and Industry Impact
With AML requirements becoming more complex and multifaceted across jurisdictions, partnerships like PSA Solutions and Strise demonstrate how technology providers are shaping the future of compliance. By integrating their solutions, they provide law firms with a sophisticated yet user-friendly platform that automates manual AML tasks while ensuring ongoing adherence to evolving laws and standards.
This collaboration sets a precedent for how legal firms can leverage advanced technology to not only comply but excel in regulatory environments. As financial crime prevention increasingly relies on real-time data and predictive analytics, the PSA-Strise partnership places law firms at the forefront of innovation in AML compliance.
Conclusion
The strategic partnership between PSA Solutions and Strise marks a significant step forward in AML automation for the legal sector in the UK and Nordic regions. By combining PSA’s trusted client onboarding system with Strise’s AI-driven AML platform, law firms gain access to a comprehensive solution that addresses persistent compliance challenges. This alliance reflects a broader industry trend of embracing technology to enhance regulatory adherence, operational efficiency, and risk management in the face of stricter anti-money laundering and sanctions requirements
AML Editor’s article was originally published in fintech.globa on August 21, 2025