Client due diligence platform Thirdfort brought together compliance leaders from across the legal and property sectors on Thursday to explore the future of client due diligence (CDD), as firms face growing regulatory pressure and rising expectations around digital onboarding.
Verified, by Thirdfort: The Compliance Leaders’ Summit, held in London, marked the first event of its kind hosted by the client due diligence platform, bringing together around 200 professionals to discuss how compliance is evolving in response to fraud, money laundering and shifting regulatory expectations.
Opening the event, Thirdfort co-founder and CEO Olly Thornton-Berry reflected on the company’s journey since launching in 2019, when digital identity tools were still viewed with scepticism by some regulators and professionals.
Today, digital onboarding and AML technology are widely used across the sector, with millions of individuals now verified through digital journeys. However, Thornton-Berry noted that compliance teams remain under significant pressure as they balance regulatory requirements with client experience and operational efficiency.
Thornton-Berry said: “While the technology has moved forward, the challenges haven’t disappeared. Compliance teams are still dealing with fragmented processes, hidden risks and increasing expectations from both regulators and clients.”
Discussions at the summit focused on the practical challenges facing compliance professionals, including the risk of gaps in oversight, friction between fee earners and compliance teams, and the operational burden created by repetitive or manual processes.
The event also highlighted the increasing role of technology, including data and AI, in supporting more effective and scalable compliance processes, while reinforcing the importance of maintaining human oversight and professional judgement.
Thirdfort co-founder and chief product officer Jack Bidgood said: “There’s a clear sense across the industry that while progress has been made, there is still too much back and forth in client due diligence. Firms want greater visibility of risk, more streamlined workflows and the ability to apply their expertise where it matters most, rather than being tied up in administrative tasks.”
Bidgood added: “We’re on the cusp of another major shift in how client due diligence is carried out. The opportunity is to move towards systems that not only automate tasks, but actively help firms identify, assess and manage risk more effectively – with professionals firmly in control.”
The event featured speakers and panel discussions with senior compliance professionals and industry experts, including Harriet Holmes (AML manager, Thirdfort), Eloise Butterworth (head of risk & compliance, HiveRisk), Balker Bains (general counsel, Ashtons) and Guy Gibbs (head of conflicts & financial crime compliance, Stewarts). Ex-fraudster and motivational speaker Alex Wood delivered a keynote speech on Thinking like a fraudster: The poacher’s instinct.
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 submitter and not those of Today’s Conveyancer.
