A Source of Funds tool your team will love
Published
We believe that verifying the source of your clients' funds should be easy.
We want to help you analyse your clients' bank accounts, highlight the red flags, and provide you with the evidence you need to feel confident that you and your team have corroborated your clients' story. So you can spend less time trawling through bank statements with a highlighter, and more time on the work your client is paying for.
Our new Source of Funds reports to do just that.
Finding the transactions that support your Source of Funds questionnaire
We built our Source of Funds verification tool to help regulated AML professionals gather and analyse the information that helps corroborate their clients' funds. More than one thousand businesses have used the tool, but we know that many firms are still gathering bank statements over email, printing them off, and going through line by line with a highlighter. Now, transactions that support your clients' SoF questionnaire responses will be linked to the questionnaire, in one place, saving you the time and hassle of having to go looking for them.
Quickly see the source of savings
All transactions relating to your clients' salary are highlighted for you, allowing you to quickly build a picture of where their savings have come from.
Let us find the high-risk transactions, so you don't miss them
The largest transactions from your clients' linked accounts will now be split into recurring, one-off, and cash transactions, making it easier for you to identify potentially suspicious activity.
Plus, the tool analyses your clients' accounts, picking out the transactions that have caused large fluctuations and highlighting those for you in an easy-to-interpret graph.
How to get started?
With these enhancements to the Source of Funds report, there is no need to make any changes to how you initiate a report. Simply use the Thirdfort portal or initiate the report through one of our partners.
And coming soon…
We're making further improvements to our Source of Funds tool in the coming months. For more information, contact your Account Manager or arrange a demo today.
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