Analyse Source of Funds Data
FCA-Regulated Open Banking Source of Funds Checks
We’ve combined Open Banking and smart AI-powered financial analytics so you can access bank account data in an easy, regulated and automated way that is compliant within the regulatory guidelines.
Verify Source of Funds with Advanced AI Analytics & Open Banking Technology
Trusted by hundreds of major law firms around the world, our Open Banking enables firms to connect with over 4,000 banks. Access digital bank statements to analyse the financial data available and verify an individual or businesses’ source of funds and confirm their source of wealth.
Compliant Checks Ensuring Effective Due Diligence
By using Verify 365, firms and businesses are able to complete both lite and enhanced due diligence. Using DynamicID to confirm the identity of an individual within a few minutes and accessing our Open Banking technology and advanced AI analytics to decipher an individual’s source of funds. This combination ensures you are completing necessary client due diligence under the compliance regulations.
Connect With Over 4,000 Banks
Using our Open Banking technology, Verify 365 enables you to connect to over 4,000 banks digitally to access bank statements and analyse financial data using AI analytics. From this information, you can not only decipher an individual’s source of funds and source of wealth, but complete the same process for businesses and identify the Ultimate Beneficial Owner (UBO).
Unmask Suspicious Individuals and Businesses
Bring clients who pose money laundering risks to your firm or businesses’ attention. This is may be due to a criminal record or history or their association with criminals or crime networks.
Limit Criminal Opportunities
Through our analytical, effective source of funds checks, you can limit the opportunity for criminals to gain access to criminal property. Without criminal property, there cannot be any money laundered. Our checks are fully FCA regulated.
Confirm An Individual's Source of Wealth
Under the Proceeds of Crime Act 2002 (POCA), a person commits an offence if they conceal, disguise, convert or transfer criminal property. Utilising Verify 365’s innovative technology ensures you can confirm an individual’s source of wealth and flag any concerns and risks.
Confirm Source of Funds Data at a Quicker Pace
Easily and securely complete financial checks using our winning combination of open banking technology, detailed questionnaire and AI analytics that eradicates the paper trail meaning you can obtain the information you need at a much faster rate.
FCA Regulated Ensuring Protection
Over 30 Global Regions Covered
Don't Take Our Word For It...
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Verify 365 set up a complete client onboarding experience for our clients from their platform. This made the AML process for our firm quicker and less time-consuming allowing the fee earners to get on with more important tasks. It's a game changer for our law firm and our onboarding time has literally been reduced to minutes. It's also fantastic for our clients who can verify ID remotely.
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Verifying the client's identity and source of funds used to take weeks due to the client needing to collect, print, and send their information in. A quicker way to verify the client had to be implemented. We wanted a system that utilised face biometrics and NFC technology, and a system that enabled our international clients to be properly identified. Verify 365 goes above and beyond any other system.
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Using Verify 365 for our client onboarding process has been phenomenal, we are now onboarding clients in minutes. We now confidently take on clients from anywhere in the world! It takes seconds to send clients a link from the Verify 365 portal and then we wait for the AML report to be generated, whereas previously there was always an element of risk and uncertainty.
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The integration has enhanced other departments and helped towards practicing compliantly. We are much happier and are properly protected, knowing our checks are compliant. I wouldn’t hesitate in recommending Verify 365
Connected Banks
Global Regions
Languages Supported
Effective Onboarding Platform
Fast, Effective Source of Funds Checks
We have crafted a winning combination of AI analytics and Open Banking to ensure you can identify and individual or business’ source of funds and source of wealth. Our fast, efficient platform ensures your source of funds checks are fully compliant within the regulation guidelines.