armalytix for legal

Client financial checks, in moments

‘Armalytix has allowed us to develop an industry leading source of funds report for our 15,000 professional services clients’

Richard Devine – Account Director, Veriphy

Whether you’re a lawyer, conveyancer or other legal professional, regulation, financial crime risk and good practice require you to check, verify and analyse your clients’ financial information

Do you need to perform source of funds checks on your clients?

Do you need to verify client bank account details?

Do you struggle to get the information and insights you need to perform these checks efficiently and effectively?

Get financial reports for source of funds, proof of funds and bank verification in moments

Armalytix is available across mobile and desktop and covers over 98% of client bank accounts. 

Get in touch

If you’d like to find out more, leave us your details and we’ll be in touch.  If you prefer, use the live chat to speak to us now.

How we help

Greater regulation means more checks on your clients. For source of funds, proof of funds and bank account verification, Armalytix gives you all the information and analysis you need in a few clicks, transforming a complicated and time-consuming process into a simple journey that takes moments.

What are Source of Funds checks?

“Source of Funds refers to the funds that are being used to fund the specific transaction in hand – The question you are seeking to answer should not simply be, “where did the money for the transaction come from,” but also “how and from where did the client get the money for this transaction or business relationship.” It is not enough to know the money came from a UK bank account.”

LSAG AML Guidance (click to read in full)

Legal firms face a rising tide of regulation to combat financial crime. For activities such as conveyancing, relevant financial information is collected from clients and assessed to check that the funds involved have come from legitimate sources.

What is a Source of Funds report? How does it help me?

  • Our reports provide you with the data, analysis and insights to quickly and effectively perform client source of funds checks.
  • We return transaction and balance information for the periods you require from one or many of your clients’ bank accounts.
  • Our analysis and insights will allow you to quickly assess the accumulation of the funds, regular incomings and outgoings as well as large payments in and out.
  • These reports will dramatically improve the critical steps in assessing a client’s source of funds, making it quick and easy for a client to digitally return large amounts of information and provide you with the insights to efficiently and effectively perform your check.

What is an Account Verification report?

To help prevent fraud and to comply with AML regulations, legal firms need to verify client’s bank account details before moving funds . Our report allows a client to provide valid, verified bank account details, confirming sort code, account number and account name in a process that also proves ownership and control of that account to the legal firm.

What is a Proof of Funds report?

For activities that require your client to prove an amount of funds before proceeding, our proof of funds report will allow clients to easily prove the balance held on one or more bank accounts.

What do I get?

  • A simple tool to perform financial checks on your clients
  • A service you can use straight away or integrate with your own systems
  • No app or software download
  • Bank-level security
  • A simple range of pricing options and you can recharge the reports to your clients

API service for platforms

We offer a flexible API integration service for platforms

We work with platforms servicing the legal sector – providing a simple API integration to embed our full range of reports into any web or app-based workflow. Get in touch below to discuss.

How do I get it?

Contact us and get it today:

Reports available

Source of Funds Analysis Report

Analysis of account activity & transactions

  • Insights on accumulation of funds across multiple accounts
  • Regular incomings and outgoings
  • Large payments and receipts identified
  • Marked up bank statements for up to two years

Source of Funds Data Report

All transactions across one or more accounts

  • Transactions and balances up to two years
  • Verified bank data
  • Customise requested date ranges
  • Multiple accounts in one report

Account Verification Report

Verify bank account details & control

  • Verify account details direct from the bank
  • Verify account name
  • Prove ownership and control
  • Covers business and personal accounts

Proof of Funds Report

Balance data on one or more accounts

  • Up to date account balances
  • Verified bank details
  • Prove sufficient funds
  • Multiple accounts in one report

Get in touch for pricing options

We offer pricing packages to suit all business types, whether small firm, large firm or platform. Leave your details and we’ll get in touch to discuss. If you prefer, use the live chat to speak to us now.

Getting started

Complicated implementation can be a barrier to good solutions. We offer a simple, implementation-free product so you can deploy today.

We also offer a flexible API integration service for partners and platforms

Deploy today

Stand-alone service to get you started straight away, you can benefit from this with no integration work your side.

Integrated

API integration with your systems, giving you the complete experience for your staff and clients.

If you want to discuss customisation to the Armalytix product, just get in touch below:

See how it works

Watch the video below to see how simple it is to create a Source of Funds report

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The company

Armadillo Financial Technologies

Incorporated in England
Company Number 11828727

The Future Works
Brunel Way
SL1 1FQ

Armadillo and Armalytix are trading names of Armadillo Financial Technologies Limited. Armadillo Financial Technologies Limited is registered with the UK’s Financial Conduct Authority as an Account Information Service Provider to offer access to financial data in compliance with PSD2/Open Banking in the pan-European space. Financial Conduct Authority Registration number 911236.

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Press

Please contact us for press enquiries

Trust & security

We only view transactions and account information. We do not and cannot move money, make payments or control accounts. We use UK and EU servers to securely store information. We use 256-bit bank-level security. We do not have access to account logins.

Armadillo is a member of CiSP – the Cyber Security Information Sharing Partnership (CiSP) set up by the National Cyber Security Centre (NSCC.

We believe that you should be in control, with all our products and services there is a safe and simple way to stop us using any of your information or for you to delete your account. If you have any questions about this just contact us and we will be happy to help.

If you have a complaint, please contact our complaints manager Richard McCall at [email protected].
Our Customer Complaints Procedures can be found here.

If you are unhappy with the response you receive from us you can contact the Financial Ombudsman:

Financial Ombudsman Service
Exchange Tower, Harbour Exchange, London, E14 9SR

0800 023 4567

[email protected]

Need help?

If you have any questions about our company, please get in touch:

[email protected]