Source of Funds

Our source of funds collection tool can be a valuable asset for solicitors and their clients. By providing a more efficient and streamlined way to collect information about the source of funds, it can help ensure compliance with regulations and protect against fraudulent activities.

How it works

Thirdfort's Source of Funds can be broken down into five key parts:

1. Open Banking

Using Government-backed Open Banking technology, clients can automatically share 6 months of bank statements with you. Our easy-to-read report highlights the top 20 incoming and outgoing transactions from the past year.

Advantages of Open Banking

• Fast - no waiting for paper statements from clients.
  Get the information you need in seconds.
• Simple - easy for clients to use and for you to interpret.
• Secure - remove the risk of statement tampering or
  interception by email or post.

2. Manual bank statement upload

As an alternative to Open Banking, clients can upload their statements as PDFs or images. Intuitive, client friendly, and perfect for clients who don’t bank online.

3. Source of Funds questionnaire

Our in-app questionnaire helps you gather purchase funds information to comply with AML regulations. The user-friendly form lets clients know exactly what information you need in a non-intrusive way. No more chasing clients for information. Get everything you need in one place.

4. Giftor Source of Funds

Just like client source of funds, but tailored to giftors. Helping you verify gifts faster and saving you the hassle of checks on multiple parties.

5. Optional document upload

Do you require additional verification from your client, for example, mortgage certification or further proof of address? Simply request that they upload it via our Opptional Document Upload feature.