Credit Checks

Thirdfort does not perform a credit check as part of any Thirdfort verification check. 

My client can see Thirdfort listed on their credit file

Thirdfort uses Experian's 'Authenticate' product, which is one of their standard KYC/AML offerings. This product performs an address search on the client's credit file; it does not perform any kind of credit check or view the client's credit information.

Every time a search like this is performed on a credit file, there is a record made. A list of all searches performed on a credit file is visible to the customer if they pay to download their credit report directly from Experian. Thirdfort would be listed as one of the entities that have done a search. In most cases, the list would include other businesses that have done the same search as part of their KYC processes.

These searches are known as 'soft searches'. They have no impact on your client's credit score. 

What information is checked?

We check the address and personal data associated with a client's credit application history. Inconsistencies in addresses or personal information used to apply for credit could be a sign of fraud, and if found, would be indicated on the report under the Further Information section of the Address Match. 

Informing your client

Thirdfort informs app users that it will perform a search via Experian for KYC/AML purposes when they first sign up to use the app. This is done via our Privacy Policy, which is clearly presented to the client in the initial app onboarding. 

A professional user may also want to inform their clients via their T&Cs or otherwise that these searches will be performed by Thirdfort on their behalf.

If a professional user performs checks on clients without the Thirdfort app (via the Thirdfort Lite Screening product), they should inform their client that this search will be performed via Thirdfort. They can do this by referring the client to the Thirdfort Privacy Policy.