We have been looking at the Thirdfort App for several months, as a solution for those clients who we deal with nationally. The App integrates document scanning and facial recognition technology to verify clients ID, and that their ID is genuine. It is also used to verify source of funds with confidence, using FCA regulated Open Banking technology.
After careful consideration, we conducted a soft launch from 1st May. The App, which is recognised by our regulators, is easy to use, and allows clients to give us ID and Source of Funds documentation remotely, using a secure system.
A month in, the App is proving a success, with a favourable response from those clients who have used it. Timing is everything, and we have found it an ideal solution for those clients who are unable, or do not want to come into the office due to the coronavirus epidemic, so supporting social distancing and further speeding up processes.
We continue to have our usual ID processes in place, allowing clients to come into the office, strictly by appointment only and under social distancing guidelines to produce their ID. The use of the App does not add any cost.