SmartSearch has announced the launch of its Source of Funds (SoF) solution, developed in partnership with FinTech specialist Armalytix.
The introduction of this new product aims to simplify and secure the way businesses verify the source of client funds, addressing a major bottleneck in compliance and property transactions. With increasing regulatory scrutiny and the need for faster, more accurate due diligence, SmartSearch’s latest innovation strengthens its position as a trusted digital compliance leader.
Founded in 2011 and headquartered in West Yorkshire, SmartSearch delivers a comprehensive suite of AML, Know Your Customer (KYC), and Customer Due Diligence (CDD) tools to over 6,000 clients across sectors including financial services, property, and legal. The company has built a strong reputation for driving digital transformation in compliance through automation and data integration.
The new Source of Funds solution is fully integrated into the SmartSearch platform, combining automated SoF checks with advanced AML and due diligence workflows. This all-in-one digital process removes the need for manual document handling and reduces the operational risks associated with fragmented compliance systems. By validating information directly at the source, it delivers enhanced fraud prevention, audit-ready trails, and seamless regulatory compliance.
Powered by Armalytix’s Open Banking technology—already trusted in one in five UK residential property purchases—the solution ensures data is securely validated through FCA-regulated processes. This not only boosts speed and transparency but also guarantees clients the highest standards of data protection and compliance integrity.
The collaboration between SmartSearch and Armalytix also sets a new benchmark for operational efficiency within the property sector. The integration eliminates document chasing and manual verification, helping property transactions complete faster while maintaining full compliance confidence.
SmartSearch CEO Phil Cotter said, “This partnership with Armalytix marks a significant step forward in simplifying and securing compliance for our key markets. The SoF solution provides businesses with an unparalleled level of regulatory confidence and efficiency, allowing them to focus on their core business without compromising on security. This innovative solution will undoubtedly enhance our ability to help them win business through trusted identities.”
Armalytix CEO Richard McCall added, “The residential property sector deserves a faster, more trustworthy compliance process. Our FCA-regulated Open Banking platform delivers verified, source-validated data instantly. Partnering with SmartSearch means this capability is now integrated into a comprehensive due diligence product, setting a new standard for speed and anti-fraud protection in UK property transactions.”
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