SmartSearch has announced the launch of its new Source of Funds (SoF) compliance solution through a strategic partnership with FinTech specialist Armalytix.
The company said the launch of the SoF product was driven by the growing need for businesses to enhance transparency, efficiency, and fraud prevention within compliance processes. As regulatory expectations tighten, particularly in the UK property and financial sectors, the tool aims to replace manual verification with a seamless, digital-first experience that meets strict regulatory requirements.
Based in the UK, SmartSearch provides automated AML, KYC, and due diligence solutions to businesses across financial services, legal, and property sectors. Its platform helps firms manage risk, prevent financial crime, and remain compliant with evolving regulations through technology that simplifies complex processes and enhances operational efficiency.
The new Source of Funds solution integrates directly into SmartSearch’s existing compliance platform, creating a single, unified workflow. By combining automated SoF checks with market-leading AML and due diligence tools, the product enables faster, more secure transactions and reduces operational risks associated with fragmented systems.
Powered by Open Banking and regulated by the Financial Conduct Authority (FCA) as an Account Information Service Provider, Armalytix’s technology underpins the new solution. It validates data directly at the source, offering instant verification and an audit-ready trail that significantly reduces fraud risk while strengthening regulatory confidence. This capability is already trusted in one in five UK residential property purchases.
The collaboration eliminates traditional document chasing and manual verification that often delay property transactions. Instead, it delivers a fast, automated compliance journey, ensuring that businesses benefit from both speed and security. SmartSearch’s new SoF solution sets a new benchmark for efficiency, fraud protection, and compliance assurance in the market.
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 said, “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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