2Shakes

What 2Shakes does

2Shakes is a Wellington, New Zealand-based SaaS company, founded in 2016, that provides a cloud-based client onboarding and Anti-Money Laundering (AML/CFT) compliance platform targeting professional services firms subject to New Zealand's Phase 2 AML legislation. Its core product automates the full workflow from client sign-up and engagement agreements through electronic authority submissions to government agencies (IRD, ACC, Companies Office via NZBN), identity verification, beneficial owner identification, and audit-ready reporting — reducing client onboarding from one to two hours to roughly five minutes per file. The platform is built on Microsoft Azure with native integrations to Xero Practice Manager (Xero Connected App status), Centrix for electronic IDV and PEP/sanctions screening, and OCR Labs for biometric identity verification with iBeta Presentation Attack Detection Level 1 and 2 accreditation.

The product suite includes the core onboarding and AML CDD workflow, modular add-ons for biometric IDV, electronic IDV, standalone PEP checks, trust AML compliance, Ongoing Customer Due Diligence (OCDD), and audit and statistics reporting. All paid plans include mandatory two-factor authentication, document storage, and access to a free training environment.

2Shakes monetises primarily through low-touch, product-led SMB subscriptions: a freemium tier of 10 free client groups, a $30/month subscription inclusive of 5 client groups with additional clients at $5 each, a $20 per-client pay-as-you-go option, and usage-based IDV and PEP add-ons priced at $2.50-$12.50 per individual. Distribution is self-serve via the company website, complemented by the Xero App Marketplace, industry conference presence (Bookkeepcon, Xerocon, ATAINZ, LawFest), webinars, and a referral program. The customer base spans accountants, bookkeepers, tax agents, lawyers, real estate agents, financial services providers, and high-value dealers across New Zealand, with an announced April 2025 expansion into Australia. The company is privately held with no disclosed institutional funding beyond a 2017 NZ$96,431 Callaghan Innovation grant and operates with a team of 1-10.

Name

2Shakes

Legal name

2Shakes Ltd

Website

https://2shakes.co.nz

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

2Shakes is a New Zealand-based SaaS platform that automates client onboarding, electronic signatures, government authority submissions, and AML/CFT customer due diligence for professional services firms, with planned expansion into Australia in 2025.

Ownership category

akta.pro rank

Product category

AML Compliance & Client Onboarding Software

NAICS

Software Publishers (513210)

SIC

Services-Prepackaged Software (7372)

akta.pro industry

PRIMARYHDABAHAF

Cloud Identity & Access Management Infrastructure (IAM/IdP/MFA)

Hardware, Technology & Telecom/Cloud & Data Center Infrastructure/Cloud Security & Compliance Infrastructure

Keywords

• Client onboarding software
• AML compliance software
• Identity verification services
• Regulatory compliance software
• Customer due diligence tools

Headquarters

HQ city

Wellington

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations

Revenue model

1. Subscription - Monthly Plan: Monthly subscription at $30/month including 5 rollover client groups. Additional client groups at $5 each. Ongoing CDD and renewal fees at 25c-50c per client group per month.
2. Pay As You Go: No monthly subscription. Pay $20 per client group as used. Suitable for businesses taking on fewer than 2 clients per month.
3. Biometric ID Verification Add-on: $12.50 per individual for biometric identity verification including PEP check. This is a usage-based add-on charged per person verified.
4. Electronic ID Verification Add-on: $5 per individual for electronic (data-only) identity verification including PEP check.
5. PEP Check Add-on: $2.50 per individual for standalone PEP check without full identity verification.
6. Freemium Trial: First 10 client groups free with no monthly subscription. Provides full platform access to demonstrate value before conversion to paid plans.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

2Shakes is a cloud-based SaaS platform that automates client onboarding and Anti-Money Laundering (AML) Customer Due Diligence for New Zealand professional services firms. It combines electronic signatures, NZBN-powered beneficial owner searches, biometric and electronic identity verification, PEP/sanctions screening, and government authority management (IRD, ACC, Companies Office) in a single workflow. The platform reduces onboarding and CDD time from 1-2 hours to approximately 5 minutes and integrates directly with Xero Practice Manager.

Product overview

2Shakes is a unified cloud-based client onboarding and Anti-Money Laundering (AML) compliance platform for New Zealand businesses. The core 2Shakes Core Platform provides client sign-up, electronic signatures, government authority management, and integrated AML Customer Due Diligence. This is complemented by add-on modules including Biometric Identity Verification (premium facial recognition-based IDV, iBeta accredited), Electronic Identity Verification (data-only IDV via Centrix), PEP & Sanctions Checks, Trust AML Compliance, Ongoing Customer Due Diligence (OCDD), and AML Audit & Reporting tools. The platform integrates natively with Xero Practice Manager for CRM synchronization and NZBN/Companies Office for automated beneficial owner identification. All plans include Two Factor Authentication, Notes & Files for document capture, and access to a free training environment. Pricing includes free initial usage (first 10 clients), with paid plans for Pay Monthly ($30/month + $5/client) or Pay As You Go ($20/client), plus optional add-ons for biometric IDV ($12.50), electronic IDV ($5), and standalone PEP checks ($2.50).

Differentiator

Problem solved

Functional benefit

Products and services

• 2Shakes Core Platform Cloud-based SaaS subscription platform that automates client sign-up, engagement agreements, electronic signatures, government authority management (IRD, ACC, Companies Office), AML Customer Due Diligence, identity verification, and audit-ready reporting. Targeted at NZ professional services firms subject to AML/CFT Phase 2 obligations.
• Client Onboarding & Sign Up Electronically signed engagement agreement workflow with templated services/fees/T&Cs, NZBN-powered automated client detail population, multi-entity handling, and progress status tracking for new clients.
• AML Customer Due Diligence (CDD) Automated AML compliance workflow covering beneficial owner identification via NZBN, risk assessment capture, nature and purpose recording, CDD level selection (Standard/Enhanced), and built-in audit trail.
• Biometric Identity Verification Premium identity verification service powered by OCR Labs, combining document authentication with live liveness detection and biometric facial matching. iBeta Presentation Attack Detection Level 1 & 2 accredited. Charged at $12.50 per individual verified.
• Electronic Identity Verification (eIDV) Data-only identity verification via Centrix SmartID, checking name, address, and date of birth against NZTA driver license data, DIA passport data, and other trusted sources. Includes PEP and sanctions screening. Charged at $5 per individual.
• PEP & Sanctions Checks Politically Exposed Person and sanctions list screening against international databases via Centrix. Available bundled with IDV or as a standalone check at $2.50 per individual.
• Government Authority Management Electronic authority to act on behalf of clients with IRD, ACC, and Companies Office, with automated form generation and submission using CCLA 2017-compliant electronic signatures.
• Trust AML Compliance Specialized AML CDD workflow for trust clients, capturing settlor, trustee, protector, and beneficiary information and automatically elevating CDD to Enhanced for trust structures.
• Ongoing Customer Due Diligence (OCDD) Periodic CDD review workflow for existing clients that tracks reviews based on time, risk level, or trigger events, retains historic IDV/PEP data, and is included free with paid plans.
• AML Audit, Reporting & Statistics Annual AML/CFT reporting and statistics tooling with 6-part report structure guidance, customer counts and CDD method breakdowns, and AML Compliance Officer approval workflow.

Quantifiable outcome

• Client onboarding reduced from 1-2 hours to approximately 5 minutes
• +3 more outcomes

Named customers10 records

Segments8 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability5 records

Feature10 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• XerocoreTechnology or IntegrationXero Connected App partnership. 2Shakes integrates with Xero Practice Manager to automatically create client records, contacts, upload signed engagement agreements, and assign clients to partners or groups. Two-way data flow enables seamless practice management workflow.
• CentrixcoreTechnology or IntegrationCentrix SmartID integration for electronic identity verification. Provides automated verification of passport, driver's license, date of birth, and address against trusted external databases. Also provides PEP and sanctions list checks.
• OCR Labs (OCR Labs Global)coreTechnology or IntegrationOCR Labs biometric identity verification API powering 2Shakes' biometric IDV. One of few systems worldwide with IBeta Presentation Attack Detection Level 1 & 2 accreditation for anti-spoofing protection.
• Microsoft AzurecoreTechnology or IntegrationCloud infrastructure provider. All 2Shakes data stored securely on Microsoft Azure with geo-redundant datacenters in Australia for data sovereignty within 5-eyes countries.
• New Zealand Companies OfficecoreTechnology or IntegrationIntegration via NZBN (New Zealand Business Number) to automatically retrieve company data, beneficial owners, directors, shareholders, and corporate structure information from Companies Office.
• IRD (Inland Revenue)coreTechnology or IntegrationIntegration to obtain authority to act on behalf of clients with Inland Revenue. Electronic authority submissions accepted by IRD.
• ACC (Accident Compensation Corporation)coreTechnology or IntegrationIntegration to obtain authority to act on behalf of clients with ACC. Electronic authority submissions supported.
• Silks AuditminorImplementation/ SI/ Consulting PartnerAudit partner offering independent AML/CFT programme audits. Auditors familiar with 2Shakes can save customers up to 25% on audit fees due to efficient documentation.
• Aro AdvisersminorImplementation/ SI/ Consulting PartnerAML consulting partner offering resources and programme templates specifically for accounting sector. 2Shakes discount available on Aro Advisers AML package.
• Chapman TrippminorOthersLegal firm that assessed 2Shakes electronic signatures as meeting NZ Contract and Commercial Law Act 2017 requirements. Provides legal credibility for e-signatures.

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• First AML: NZ-founded AML/CFT compliance SaaS platform serving accountants, lawyers, and real estate agents across NZ and Australia. Most direct competitor with overlapping target segments and similar product scope around customer due diligence and identity verification.
• Smokeball: Legal practice management software with built-in AML compliance features for law firms. Comparable to 2Shakes' lawyers segment offering client onboarding and CDD functionality.

Emerging players

• Onfido: Global biometric and document identity verification provider used by regulated businesses for KYC/AML. Comparable to 2Shakes' IDV layer (powered by OCR Labs) and could be embedded by NZ partners as an alternative.
• Trulioo: Global identity verification platform covering business and individual verification for AML/KYC compliance. Comparable as an alternative IDV infrastructure provider serving similar regulated verticals.
• Veriff: AI-driven identity verification platform offering biometric matching and document authentication. Comparable as an alternative to 2Shakes' OCR Labs-powered biometric IDV feature for AML-compliant onboarding.
• Persona: Configurable identity verification platform offering biometric, document, and database verification with KYC/AML use cases. Comparable as a flexible IDV alternative targeting regulated businesses.

Broad incumbents

• Jumio: Large-scale global identity verification and KYC/AML platform serving financial services and professional firms. Comparable in identity verification functionality though much broader and enterprise-focused.
• DocuSign: Global e-signature and agreement management platform. Comparable on the electronic signature/engagement agreement layer of 2Shakes' offering, though without the NZ-specific AML regulatory scope.

Regional players

• LEAP Legal Software: Australian/NZ legal practice management platform with integrated client onboarding and matter management. Comparable to 2Shakes in serving the lawyer segment across Australasia.
• Astral (formerly LawHawk): NZ legal practice management software with client intake and compliance features. Comparable as a NZ-focused practice management platform serving overlapping lawyer and real estate agent customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/2ShakesNZ
• Xx.com/2shakesnz

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 2Shakes