Reapit is excited to announce its new partnership with Know-your-customer and Anti-money laundering provider Thirdfort, who have joined our AppMarket ecosystem. Thirdfort offers a cutting-edge app that allows Reapit AgencyCloud customers to onboard clients quickly and seamlessly, with swift and secure electronic ID and AML checks that ensure properties can be listed faster.
With Thirdfort, estate and letting agents can choose from a basic PEPs and sanctions screening, UK address match, and document verification, or opt for a more comprehensive electronic ID verification for when clients need to verify themselves remotely. Thirdfort will even chase clients for you, freeing up time for agents to focus on what matters most.
Thirdfort’s ID and AML verification helps agents comply with HMRC regulation, making compliance faster and easier than ever. With just a few clicks, agents can initiate ID and Proof of Funds verification, allowing buyers and sellers to complete their checks remotely. And if they need a little extra guidance, Thirdfort’s UK-based support team is always on hand to assist.
One of the most impressive features of Thirdfort is its use of the latest technology to automate ID and anti-money laundering verification, allowing estate agents to reduce the time it takes to verify ID and proof of funds, cut costs, and free up time usually spent on client onboarding. All you need to start verifying your client’s ID and proof of funds is a name and phone number.
AML is a significant issue challenging the UK property industry. HMRC reported in October last year that 68 estate agencies had been fined a total of £519,645 for not complying with AML requirements. Additional research reveals that estate agents still account for the largest number of AML fines issued by HMRC since the introduction of AML regulation in 1993, with the industry accounting for nearly half (45.4%) of fines issued.
Thirdfort are trusted by more than 950 businesses to help them stay in line with the HMRC regulations and their Reapit AppMarket app offers a robust layer of support for Reapit customers to remain compliant with all required AML regulation.
Mark Armstrong, Group CEO, Reapit, said: “I am very pleased to welcome Thirdfort as an App Partner on the Reapit AppMarket ecosystem. Thirdfort’s cutting-edge solution to automate ID and AML verification will enable our customers to save time and costs while ensuring compliance with AML regulations, and we are excited to see the benefits this app will bring to our users.”
“Thirdfort’s cutting-edge solution to automate ID and AML verification will enable our customers to save time and costs while ensuring compliance with AML regulations.”
Teddy Ludmer, Head of Partnerships at Thirdfort, said: “The compliance burden for estate agents is ever-growing, as evidenced by recent fines. This exciting partnership offers a solution: The UK’s top estate agents can now speed up their KYC and AML processes, enabling properties to be listed and sold more quickly.”
“The UK’s top estate agents can now speed up their KYC and AML processes, enabling properties to be listed and sold more quickly.”
