Provides an end-to-end anti-fraud platform that integrates automated ID verification, anti-money laundering (AML) checks, and secure payment processing to protect high-value transactions. By leveraging Open Banking technology and real-time data from thousands of sources, it ensures compliance, reduces fraud risk, and accelerates client onboarding for regulated businesses.
Funding
$26.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Regulated businesses face increasing challenges in meeting client due diligence requirements, including identity verification, anti-money laundering (AML) compliance, and source of funds checks. Traditional methods are often slow, manual, and prone to errors, leading to delays in client onboarding and increased risk of fraud and non-compliance. The complexity of evolving regulations further exacerbates these challenges, potentially resulting in significant fines and reputational damage.
Solution
Thirdfort provides an end-to-end client due diligence platform that automates and streamlines identity verification, AML checks, and source of funds verification. By leveraging Open Banking technology and real-time data from thousands of sources, the platform enables businesses to onboard clients quickly and securely while ensuring compliance with regulatory requirements. Thirdfort's solution uses government-grade technology and encrypted data to safeguard client details and mitigate fraud risks. The platform's comprehensive approach helps businesses reclaim valuable time, remain fully compliant, and protect against financial and reputational risks.
Target Audience
Thirdfort primarily serves regulated professionals in the legal, property, and accounting sectors, as well as conveyancers and estate agents, who require robust client due diligence processes to comply with AML regulations and prevent fraud.
Features
- Automated ID verification using cryptographic technology to ensure document authenticity and facial data matching
- Real-time PEPs and sanctions screening against thousands of live data sources
- Open Banking integration for instant access to client bank statements, facilitating source of funds verification
- Source of Funds questionnaire to address any gaps in banking data
- Document verification to identify fraudulent or manipulated documents
- Ongoing monitoring for instant notifications of changes to client statuses
- Integration with Companies House to comply with new regulations for ACSPs (if applicable)