Cost-Effective, End-to-End Account Onboarding
SwiftID provides a secure, user-friendly digital system for client onboarding and account setup. The platform optimizes the client experience, digitising the entire workflow from initial identity verification (IDV) to the final application. This proven efficiency improves client completion rates and directly increases the institution's conversion metrics. The system is built to adhere to the highest security and regulatory standards.
SwiftID offers a cost-effective solution for establishing and managing client accounts. We prioritise bespoke technology development, collaborating with financial institutions to engineer workflows and offerings that meet their unique operational requirements.
Contact us today to learn more about our pricing model and service capabilities.
Compatibility
The software as a service (SaaS) platform has been architected specifically with compatibility in mind to any legacy system to avoid interoperability concerns.ย
Performance
The interactive form allows customers to troubleshoot any incorrect fields immediately resulting in more sign ups at a quicker rate.
Agility
The agility of the platform allows you to scale up or down depending on requirements.
Efficiency
Unparallel cost efficiency that allows you to have more clients and funds under management.
Tranche 2 AML/CTF Reforms for Real Estate
Australiaโs upcoming Tranche 2 reforms will soon expand anti-money-laundering (AML) and counter-terrorism-financing (CTF) obligations to new sectors โ including real-estate professionals.
From 1 July 2026, real-estate agencies and property professionals who assist clients with buying, selling or transferring property will be required to comply with AML/CTF regulations similar to those that already apply to banks and financial institutions.
These changes aim to strengthen Australiaโs defences against financial crime by ensuring that industries commonly involved in high-value transactions are equipped to identify and report suspicious behaviour.
Key milestones
- November 2024 โ Parliament passes Tranche 2 legislation.
- December 2024 โ Law receives Royal Assent.
- Mid-2025 โ AUSTRAC releases sector-specific guidance.
- 1 July 2026 โ Obligations take effect for the real-estate sector.
Who will need to comply
The reforms apply to any real-estate business or professional involved in:
- Buying or selling property on behalf of clients
- Managing or transferring client funds during settlement
- Structuring or facilitating property transactions where funds are moved or held
If your business provides any of these services, youโll likely be classed as a reporting entity under the AML/CTF Act and will need to enrol with AUSTRAC.
What real-estate agencies must do
- Register with AUSTRAC โ Real-estate agencies must formally register as reporting entities and maintain current business details.
- Create an AML/CTF program โ Each business must document a program outlining its internal controls, procedures and responsibilities for identifying and managing AML/CTF risks.
- Verify clients and beneficial owners โ Agencies must confirm the identities of clients before providing services.
- Monitor transactions and maintain records โ Real-estate professionals must monitor client behaviour and retain records for at least seven years.
- Report suspicious activity โ Agencies must lodge a suspicious-matter report (SMR) or threshold transaction report (TTR) with AUSTRAC.
- Educate and train staff โ Businesses must train staff to detect and manage potential money-laundering risks.
- Understand non-compliance risks โ Failing to comply can result in penalties, enforcement, and reputational damage.
How SwiftID supports Tranche 2 compliance
- Simplified onboarding and verification โ Perform instant ID and business-entity checks, verify beneficial ownership, and capture required KYC documentation in one platform.
- Automated monitoring and reporting โ Continuous screening against sanctions, PEP lists, and adverse-media databases.
- Audit-ready records โ Every verification and risk-assessment step is logged for transparent auditing.
- Fast implementation โ SwiftID integrates quickly into your workflows for early compliance readiness.
- Local expertise โ Built for Australian regulatory requirements.
Next steps for your agency
- Confirm your status โ Identify whether your business provides covered services.
- Enrol early โ Prepare your AUSTRAC registration and documentation.
- Assess risks โ Map your client types, transaction flows and exposure.
- Implement SwiftID โ Automate KYC/KYB and verification workflows.
- Train your team โ Ensure staff understand AML/CTF policies and reporting obligations.
- Monitor & review โ Regularly check that your AML/CTF controls remain effective.
SwiftID helps you get ahead of Tranche 2 by combining digital identity verification, AML compliance automation and risk monitoring โ so your business stays compliant, efficient and trusted.
FAQs
A cash management account is an account held with a financial institution that allows you to manage your cash transactions through one portal. Think of it as an umbrella or main cash hub under which all of your investments flow in and out.
Cash management accounts keep your money safe
while earning high-yield interest. When you
deposit money into a CMA, it’s held in
accounts at your financial institution’s
partner banks.
A cash management account can
help you track the movement of your money and
allows you to see your cash, financial position
at any moment. In other words, it enables you to
monitor your cash flow. A benefit of a cash
management account is having a consolidated view
and visibility of all cash movements.
Open an online trading account via our secure portal with one of our broking partners and we will automatically open a CMA for you.
SwiftID partners with Macquarie bank for your CMA and multiple brokers for trading and investing.
SwiftID verification is an authentication process that compares the identity a person claims to possess with data that proves it. There are many documents that can serve as providers of this objective truth: birth certificates, passport medicare card, driver’s licenses, and others.
Yes, SwiftID will automatically open your trading account and CMA account.
Our experienced team and secure portals coupled with competitive pricing make our offering unique to the market.
Every financial institution is different and may
have their own requirements but as a general
rule you will most likely require the
following:
birth certificates, passport,
medicare card, driver’s licenses, and
others.
Yes. We only hold your identity while your accounts are being processed. Our cybersecurity meets the highest standards to work with Macquarie and other banks.
Have another question not listed here? Contact our team today.