LAB Group
LAB Group is an Australian RegTech company that provides a unified cloud-based digital onboarding, AML/KYC, and identity verification platform for financial institutions and Tranche 2 regulated entities via four products: LAB Engage, LAB Verify, LAB Portal, and LAB Service.
- Company typePrivate
- Founded2010
- HeadquartersMelbourne, Australia
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What LAB Group does
LAB Group (formerly LABform) is an Australian RegTech company founded in 2010 that provides a cloud-based digital onboarding and AML/KYC compliance platform for regulated financial institutions and professional services firms. Its unified platform comprises four core products: LAB Engage (configurable digital forms and workflow orchestration), LAB Verify (multi-provider identity verification and watchlist screening via unified API), LAB Portal (unified case management and audit hub), and LAB Service (managed AML/CTF operational support), built on AWS infrastructure with an API-first architecture and ISO/IEC 27001:2013 certification.
The company primarily serves enterprise financial institutions — wealth managers, fund managers, fund administrators, online trading platforms, and crypto/VASPs — with expansion into Tranche 2 regulated entities (real estate agents, lawyers, accountants, conveyancers) ahead of the 1 July 2026 AUSTRAC AML/CTF reform deadline. Revenue is generated through multi-year SaaS subscriptions, usage-based API/integration fees, and managed services revenue, distributed via direct enterprise sales, channel/embedded partnerships (UrbanX Autopilot, FLK, KordaMentha), and integrations with platforms such as Iress' Xplan, Praemium, FinClear, DocuSign, Salesforce, and HubSpot.
LAB Group reports a customer base of 125+ enterprise clients across 200+ countries, having processed more than 500,000 investor applications. The company has offices in Sydney (headquarters) and Melbourne, secured an AU$6.5 million debt facility from Global Credit Investments in October 2023, and was a 2022 Mastercard Start Path participant and 2024 Finnies/RegTech Awards finalist. Named customers include Macquarie, State Street, J.P. Morgan Asset Management, First Sentier Investors, Hostplus, SelfWealth, Webull Australia, and the UrbanX network of 100+ real estate agencies.
LAB Group firmographics
Firmographics- Name
- LAB Group
- Legal name
- LAB Group Services Pty Ltd
- Website
- https://labgroup.com.au
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- LAB Group is an Australian RegTech company that provides a unified cloud-based digital onboarding, AML/KYC, and identity verification platform for financial institutions and Tranche 2 regulated entities via four products: LAB Engage, LAB Verify, LAB Portal, and LAB Service.
- Ownership category
- akta.pro rank
Where LAB Group is headquartered
LocationHeadquarters
- HQ city
- Melbourne
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
LAB Group business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Platform Subscription and Licensing: LAB Group operates primarily as a SaaS platform providing subscription-based access to its onboarding, identity verification, and compliance management products. Access is via the Internet and commercial terms are set out in order forms.
- API and Integration Services: Revenue generated from API usage, webhooks, and integration services that enable organisations to embed LAB capabilities into their own platforms and workflows.
- Managed Services: LAB Service provides managed AML/CTF operations including specialist support, exception case management, and on-demand operations resourcing for customers needing additional capacity.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Enterprise licensing for major financial institutions |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
LAB Group product offering
Product offeringCore offering
LAB Group provides a cloud-based SaaS platform for digital customer onboarding, identity verification, AML/CTF compliance, and workflow management for regulated financial institutions, fund managers, fund administrators, online trading platforms, and Tranche 2 entities (real estate, legal, accounting). The platform orchestrates dynamic digital forms, multi-provider identity verification, watchlist screening, exception handling, and AUSTRAC-ready reporting across a single integrated stack, with managed service options for ongoing compliance operations.
Product overview
LAB Group delivers a unified digital onboarding orchestration platform consisting of four core products: LAB Engage (configurable digital forms and workflow orchestration), LAB Verify (multi-provider identity verification and watchlist screening API), LAB Portal (unified case management and exception handling hub), and LAB Service (managed compliance operations and specialist support). Together, these products automate onboarding, identity verification, screening, and workflow management for regulated entities. The platform is offered alongside free tools including an AML/CTF Program Wizard and Compliance Radar chatbot. LABform (legacy product name) supports white-label and multi-brand deployment through an Application Manager, enabling financial institutions, fund managers, and trading platforms to onboard customers across complex entity structures.
Differentiator
Problem solved
Functional benefit
Brands
- LAB Engage: Digitise onboarding journeys with configurable dynamic digital forms, risk assessment and compliance workflows.
- LAB Verify
- LAB Portal
- LAB Service
Products and services
- LAB Engage Configurable dynamic digital forms platform for digitising customer onboarding journeys, risk assessment, and compliance workflows. Orchestrates customer data collection and submission, identity verification, PEP/sanctions screening, and compliance processes across multiple channels for regulated entities.
- LAB Verify Unified API and multi-provider verification engine for verifying individuals and entities and performing watchlist screening. Coordinates electronic identity verification (EIDV), document verification (DVS), biometric verification, PEP/sanctions screening, and adverse media checks through a single API.
- LAB Portal Unified hub for managing onboarding workflows, resolving exceptions, triggering verifications, and case management with complete audit trail. Supports AUSTRAC-ready reporting and centralised oversight across onboarding operations.
- LAB Service Managed AML/CTF services providing specialist operational support for scaling compliance operations, including AML operations resourcing, exception case management, and SMR (Suspicious Matter Report) preparation support for customers needing additional compliance capacity.
- AML/CTF Program Wizard Free guided online tool that helps Tranche 2 regulated entities (real estate agents, lawyers, accountants, conveyancers) understand their AUSTRAC obligations and generate a tailored AML/CTF program before the 1 July 2026 regulatory deadline.
- AML/CTF Consultant Chatbot Free AI-powered chatbot providing regulatory guidance on AML/CTF reform requirements, with a continuously updated knowledge base reflecting latest AUSTRAC, OAIC, and DFAT guidance for reporting entities.
Quantifiable outcome
- 350% surge in demand handled during COVID-19 pandemic
- +5 more outcomes
Companies that use LAB Group
Customer profileNamed customers16 records
Segments8 records
Ideal customer profiles8 records
LAB Group technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration18 records
Feature10 records
LAB Group partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and strategic.
- FLK it overcoreFLK it over partnered with LAB Group to build AML/CTF customer due diligence directly into its document signing workflow. The integration triggers appropriate CDD flows for sellers and buyers within the real estate signing process, with first agencies (Raine & Horne City Living, IC Realty, Flemings Property Services, Daly & Bernar) registered ahead of 1 July 2026 Tranche 2 deadline.
- UrbanXcoreLAB Group selected by UrbanX to deliver AML/CTF compliance across its national network of over 100 real estate agencies. The LAB platform is integrated directly into Autopilot, UrbanX's proprietary property transaction management platform, enabling every affiliated agency to meet Tranche 2 obligations from 1 July 2026. UrbanX agents access LAB through embedded (Autopilot integration) and standalone (LAB Engage and LAB Portal) channels.
- Dow Jones Risk & CompliancecoreLAB Group partnered with Dow Jones Risk & Compliance to bring enterprise-grade watchlist screening directly into the LAB Platform. Customers receive configurable, auditable AML screening without the complexity of a separate vendor relationship. This partnership enhances LAB's PEP, sanctions, and adverse media screening capabilities.
- KordaMenthacoreKordaMentha, independent Australian advisory and investment firm, entered strategic partnership with LAB Group to deliver turnkey AML/CTF managed services. KordaMentha's Implementation Services team combines with LAB Group's RegTech platform to provide joint service covering AML/CTF program design, implementation, and operational support.
- Data ZoostrategicData Zoo partnered with LAB Group to enhance global identity verification solutions. The partnership improves electronic identity verification (EIDV) workflows by integrating Data Zoo's global identity verification capabilities into the LAB Platform.
- IDVersestrategicLAB Group integrated with IDVerse to enhance digital ID verification. IDVerse provides best-in-class ID document verification incorporating document scanning, fraud assessment and biometrics, complementing LAB's existing verification capabilities.
- DocuSignstrategicLAB Group integrated with DocuSign to take digital signing and witnessing to the next level, simplifying digital client management for all members of the LAB Network. The integration streamlines electronic signing within the onboarding workflow.
- Australian Payments Plus (AP+)strategicLAB Group partnered with Australian Payments Plus (AP+) and Endeavour Group to deliver digital ID verification through ConnectID. LAB Group contributed identity verification capabilities to AP+'s digital identity ecosystem.
- KyckrstrategicLAB Group signed strategic integration partnership with Kyckr Ltd (ASX: KYK), a global database verification company. Kyckr provides global institutional and corporate verification services integrated into the LAB Platform, enhancing AML/KYC capabilities for company and corporate entity verification.
- PraemiumstrategicLAB Group integrated with Praemium Ltd (ASX: PPS) to deliver secure onboarding and improve user experience. First deployment at Marcus Today, enabling enhanced client onboarding through Praemium's platform.
- Iress' XplanstrategicLAB Group integrated with Iress' Xplan to deliver secure and efficient onboarding. The integration connects LAB's verification and onboarding capabilities with Xplan's financial planning platform.
- FinClearstrategicLAB Group integrated with FinClear's HIN platform to simplify client onboarding for financial advisers. The partnership enables streamlined investor onboarding through FinClear's financial market infrastructure.
- Amazon Web Services (AWS)coreLAB Group officially became an AWS Select Tier Technology Partner within the Amazon Web Services Partner Network (APN). This designation represents a high level of AWS expertise and engagement, supporting LAB's cloud infrastructure and customer onboarding services.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
LAB Group competitors and assessment
Company assessmentDirect peers
- FrankieOne: Australian-headquartered RegTech providing unified KYC, AML and identity verification APIs to banks, fintechs and crypto firms. Most directly comparable to LAB Group as a domestic competitor pursuing the same Tranche 1 and emerging Tranche 2 customer set with similar API-first, multi-vendor verification architecture.
- Onfido (Entrust): Global identity verification provider offering document, biometric and KYC checks via API. Comparable to LAB Verify as a multi-provider verification engine for AML/KYC onboarding, with broader international scale but less Australian compliance specialisation.
- Jumio: End-to-end identity verification, KYC and AML orchestration platform used by financial institutions and fintechs. Overlaps with LAB Engage + LAB Verify for digital onboarding and identity proofing across regulated industries.
- Trulioo: Global identity verification network providing business and person verification across 200+ countries. Directly comparable to LAB Verify's multi-provider, multi-jurisdiction verification approach, with comparable geographic reach claims.
- Sumsub: All-in-one verification platform covering KYC, KYB, AML screening and fraud prevention for fintechs, crypto and traditional finance. Comparable product surface to LAB Platform across onboarding, verification and ongoing compliance.
- Persona: Configurable identity verification platform serving fintech, crypto and enterprise customers with KYC, document and biometric checks. Comparable to LAB Engage + LAB Verify for configurable onboarding flows and identity proofing.
- GBG (Mitratech): Identity verification, fraud and AML compliance provider with strong APAC presence and financial services customer base. Closely comparable to LAB Group across customer segments and identity verification capabilities.
- ComplyAdvantage: AI-driven AML, sanctions and watchlist screening platform used by banks, fintechs and crypto firms. Directly comparable to LAB Verify's watchlist and adverse media screening components, and to the AML use cases LAB Service supports.
- Veriff: Identity verification platform providing document, biometric and fraud checks to financial services and online platforms. Comparable to LAB Verify's document and identity verification capability set within onboarding workflows.
Broad incumbents
- Refinitiv World-Check (LSEG): Enterprise KYC and screening incumbent offering World-Check watchlist data and broader financial crime tooling. Comparable to the screening layer inside LAB Verify and to the Dow Jones partnership, but operates as a broad incumbent rather than a niche RegTech.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
LAB Group social profiles
Digital presenceLAB Group compliance and trust
Trust signalCompliance2 records
LAB Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
LAB Group leadership team
Management profileNumber of profiles
Profiles2 records
LAB Group funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
LAB Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about LAB Group
What does LAB Group do?
LAB Group provides a cloud-based SaaS platform for digital customer onboarding, identity verification, AML/CTF compliance, and workflow management for regulated financial institutions, fund managers, fund administrators, online trading platforms, and Tranche 2 entities (real estate, legal, accounting). The platform orchestrates dynamic digital forms, multi-provider identity verification, watchlist screening, exception handling, and AUSTRAC-ready reporting across a single integrated stack, with managed service options for ongoing compliance operations.
Is LAB Group a public or private company?
LAB Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was LAB Group founded?
LAB Group was founded in 2010. It employs 11 to 50 people.
Where is LAB Group based?
LAB Group is headquartered in Melbourne, Australia, in the Oceania region.
How does LAB Group make money?
Three revenue lines are on record. Platform Subscription and Licensing is the primary driver. The others are API and Integration Services and managed Services.
Who are LAB Group's main competitors?
Direct peers on record are FrankieOne, Onfido (Entrust), Jumio, Trulioo, Sumsub, Persona, GBG (Mitratech), ComplyAdvantage and Veriff. Refinitiv World-Check (LSEG) is listed as a broad incumbent.
Does LAB Group have an API?
Yes. LAB Group offers multiple APIs enabling integration with client systems. Key APIs include: (1) Initiate API - allows businesses to initiate and pre-populate aspects of an application through the LAB dynamic Onboarding Framework independent of the online application form; (2) Completion API - allows organisations to extract application data entered into the online application and load it into account management, registry system or CRM; (3) Federated Identity API - allows organisations to utilise LAB Group's federated identity capability to seamlessly log into the LAB Application Manager without additional credentials; (4) Application Maintenance API - allows organisations to update an application with specific details such as account numbers or labels; (5) Webhooks - triggering actions to client systems based on events.