Thirdfort partners with OnTheMarket Software

Anti Money Laundering (AML) is now one of the major compliance concerns for sales and letting agents with penalties for non-compliance running into millions of pounds annually as HMRC step up their enforcement of requirements that have become progressively more stringent since first being introduced, twenty years ago, in 2003.

Thirdfort is now integrated with OnTheMarket Software, providing digital ID and Source of funds. Accessed seamlessly from within the TecCRM platform, the results of checks are automatically returned into TecCRM with documents held within the document centre.

The digital ID, AML and source of funds solution enables clients to complete ID verification on the Thirdfort app, whenever and wherever they are located.

Using NFC technology, the app reads and verifies digital signatures and signing keys used in e-passports. Thousands of identity documents can be verified from issuing government bodies around the world. Crucially, verification is fully compliant with HM Land Registry's Digital ID Standard.

PEPs and sanctions screening is included with data sources that are updated in real-time to keep on top of ever-changing sanctions lists. Ongoing 12 month monitoring is also available.

Both positive and negative data sources are used for comprehensive screening and thousands of lists can be checked at once.

Simple and secure Source of Funds verification is undertaken using Government-backed Open Banking, with instant and secure access to bank statements helping to qualify buyers, together with a Source of Funds questionnaire that provides extra context.

The Thirdfort integration also provides the ability to handle Right to Rent checks through the TecLet platform.