Thirdfort, a risk management platform combining Know Your Client (KYC), Anti-Money Laundering (AML) and Source-of-Funds (SoF) verification, has been certified by the Government’s UK Digital Identity & Attributes Trust Framework (DIATF).
Led by the Department for Digital, Culture, Media & Sport (DCMS), the DIATF introduces a set of rules and standards designed to establish trust in digital identity products in the UK. Currently in Beta format, the framework provides reassurance to all parties involved that their data is used appropriately and kept safe. It also aims to reduce the risk of fraud for both users and organisations.
DCMS has been developing the framework since 2021. It forms part of the Government’s strategy to encourage greater adoption of digital ID verification by setting a national approach for digital identity solutions.
Accredited providers operate within a trusted framework, ensuring the public can access clear and consistent standards in digital ID verification. To achieve accreditation Thirdfort has been assessed on its ability to meet standards relating to privacy and data security, interoperability, accessibility and inclusivity.
Thirdfort’s DIATF accreditation follows its launch of Secure Share, a new feature offering shareable reports to reduce the repetition of compliance checks in property transactions.
Olly Thornton-Berry, Managing Director at Thirdfort, said:
“Being one of the first companies to achieve Government digital ID accreditation is a significant step for Thirdfort and demonstrates our commitment to meeting the highest privacy, data security and accessibility standards. As digital ID verification is fast becoming a vital tool in the fight against fraud and money laundering, it’s important that regulated professionals know which platforms they can trust. This positive initiative by the Government sets clear standards both for the public and their professional advisers in terms of how their identity is verified and how their data is processed and protected.
From enabling the digital verification of somebody’s right to work or to rent to facilitating high value transactions such as buying a house or making a will, digital ID has an important role to play and this framework will support the ability to share digital identities, unlock improved user experience in the digital world, increase security and boost economic growth.”
Thirdfort is the only platform to combine best-in-class digital ID, AML and SoF verification, alongside Open Banking and the latest cryptographic and biometric verification tools. It rapidly informs regulated professionals of risks with onboarding both individuals and corporates, enabling them to begin transacting with new clients more quickly. Thirdfort is currently used by more than 850 regulated professional services firms including estate agents, law firms and conveyancers among others.
This article was submitted to be published by Thirdfort as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.
