Rebuilding Client Due Diligence for the future of compliance
Clear oversight, zero blind spots
Before you dig into what we've built, hear why we built it. Everything we created starts with a simple belief: compliance professionals need better oversight and control of what's going on within their firm.
"It’s been a huge change for us as a risk and compliance team. It has made our lives a lot easier."
Victoria Vantine, Risk and Compliance Manager at Birketts
"Thirdfort has hugely improved our efficiency in verifying the vast majority of clients and made complying with regulations simple and secure. Everything we need is now in one report."
Richard Harrison, Partner at Laytons ETL
Source of funds: detailed reviews
You can now review detailed Source of funds verification in Thirdfort, making it easier to assess risk.
Now, red flags within your client's funds are highlighted the moment the report is ready, giving you immediate visibility on areas that need further review.
Funds from high-risk third countries, cash deposit patterns, savings mismatches and gift declarations are all flagged clearly. No more hunting through transactions to find what matters.
Source of funds, minus the back-and-forth
Too often, clients don’t provide everything you need to start a source of funds review the first time. That means more chasing, more delays and more time spent pulling together evidence.
We’ve rebuilt our source of funds tool so evidence requests are built into the questionnaire. For example, if a client tells you their income comes from a salary, we ask for the account their salary is paid into and a payslip there and then. That reduces the chance of missing key evidence and keeps reviews moving.
"Compared to our previous process, I save on average 10 to 15 minutes per file just on source of funds checks."
Zoe Tibble, Head of Department at Gough Thorne
"(...) we’ve saved significant time as we no longer have this admin and follow-up work."
Cheryl Baxter, Partner at Boyce Hatton
AML screening
For too long, assessing potential screening matches has felt like a slog. Information is in multiple places, all matches look the same so you can’t tell what really needs your attention and it’s tricky to accurately capture all of your decision making in a way that is auditable.
Now we’re announcing a new way to review screening matches. Our intelligent algorithm assesses matches and categorises them by relevance, so you know what needs your attention. All the information you need to assess a potential match is available in our platform, so you aren’t switching between tabs. Importantly, it’s easy to create a record when you confirm or dismiss a match, just add notes in Thirdfort and we automatically build the audit trail.
And more exciting than that? You can take actions in bulk, dismissing multiple false matches in seconds.
Task view: Coming soon
Worried something might slip through the cracks? You’ll now be automatically alerted to new tasks that need action, reducing the mental load and preventing someone from forgetting to create an escalation.
Take ownership yourself, or assign tasks to a team member for review.
An integrated workflow for client onboarding
Minerva joins our growing network of integrations. Together, we’ve built connected workflows that remove duplication, shorten time to instruction and improve the client experience from the very first interaction. You can send quotes and forms to your client, together with ID checks, with everything returning into one platform.
AI-enabled risk assessments: Coming soon
AI-enabled risk assessment will take the information from the completed check and start to fill in the risk assessment, always keeping a human-in-the-loop to review outputs and make the final decision.
MLRO oversight dashboard: Coming soon
MLRO's are stalked by a spectre of hidden risk. A nagging feeling that something, somewhere, in the firm is exposing them to risk that they are unaware of. Now, we're banishing that spectre. With the MLRO dashboard, you'll have a clear view of the risks your firm faces, helping you to mitigate them as they emerge. This data will also aid reporting to your board and your PII provider.
"Our team was delighted with how much easier the verification process is. Thirdfort has greatly reduced their workload, and taken away the stress of keeping up with AML regulations."
Nathan Pershad, Compliance Team Manager at Direction Law
"We want everything laborious and inefficient to be done by technology and everything that’s human to be dealt with by us"
Tom Svedberg, Conveyancing Executive at Adams Kaye
Organisation product access
You set out processes to protect your firm. Now, you can control what your users can access in Thirdfort. You can toggle access on or off at any time.
If you need different teams to follow different processes, that’s ok. You can set up different profiles for each of your teams. So you stay in control.
Pre-checks on identity document verification
When submitting an identity document via our platform, we now perform a quick check on the file to ensure you don’t submit a check that can’t be used.
Intelligent client due diligence
Ready to see how Thirdfort can help you stay in control of your CDD processes?