AI-assisted software development helps client due diligence platform rapidly deliver new capabilities for regulated firms Thirdfort is on course to deliver 150 releases this year, marking a six-fold increase year-on-year
Client due diligence platform Thirdfort has unveiled the latest additions to its intelligent compliance platform, marking more than 100 product releases this year. This comes as the company accelerates innovation to help regulated firms tackle increasingly complex fraud and money laundering risks. Thirdfort is on course to deliver 150 releases this year, marking a six-fold increase year-on-year.
The latest releases include a new Firmwide Insights Dashboard, a new Tasks function and an Co-purchaser Source of Funds Linking. These new releases are designed to give compliance teams greater visibility of firm-wide risk, streamline workflows and reduce the administrative burden associated with client due diligence. The latest releases represent the next stage in Thirdfort’s evolution to an intelligent client due diligence platform.
The launches build on Thirdfort’s recent rebuild of its client due diligence platform, which unified ID verification, Know Your Business (KYB), anti-money laundering screening and source of funds analysis into a single platform. In line with the rebuild, the company has significantly accelerated product development, using AI to support software engineering and deliver new functionality to customers more quickly.
The accelerated release cycle reflects growing demand from legal and property firms for technology that not only automates compliance tasks but also provides greater oversight of risk across their organisations.
The new Firmwide Insights Dashboard gives compliance teams a real-time view of AML risk across their organisation, built from the checks they are already carrying out. The dashboard is designed to help Money Laundering Reporting Officers (MLROs) and compliance teams identify trends, monitor exposure and prioritise areas requiring further investigation.
Meanwhile, Tasks introduces a centralised workflow for managing compliance activity within the platform, helping teams keep track of outstanding actions and reducing the back-and-forth often associated with client due diligence.
Thirdfort has also launched co-purchaser Linking for Source of Funds verification, which automatically connects the checks of co-purchasers giving firms a consolidated view of the funds being used for a house purchase when there are multiple buyers.
Olly Thornton-Berry, co-founder and CEO of Thirdfort, said: “Compliance teams face increasing expectations from regulators and clients alike. They need greater visibility of risk, faster workflows and technology that genuinely supports their expertise rather than creating additional administration.
“Reaching 117 product releases this year demonstrates what’s possible when you combine our new platform with AI-assisted software development. It means we can respond more quickly to customer feedback and continually deliver improvements that make a meaningful difference to regulated firms.”
Thirdfort now supports more than 1,500 regulated businesses across the legal, property and accountancy sectors, including Pennington Manches Cooper, Thomas Legal and Chestertons.
For more information, please contact: Ed Smith – esmith@highburycomms.com / 07983 245 873 James Boyd-Wallis – jboydwallis@highburycomms.com / 07793 021 607
This article was submitted by Thirdfort as part of an advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the advertiser and not those of Today’s Conveyancer.
