Leeds’ SmartSearch, the leading provider of anti-money laundering (AML) and digital compliance solutions, has entered a strategic partnership with fintech specialist Armalytix to launch its Source of Funds (SoF) compliance solution.
Already trusted in one-in-five UK residential property purchases, the technology underpinning the solution is regulated by the Financial Conduct Authority (FCA) as an account information service provider, ensuring the highest standards of security and compliance. This assures SmartSearch clients that the solution meets strict regulatory requirements, as well as delivering a seamless, digital-first experience.
The launch of SoF reinforces SmartSearch’s position as the market leader in digital compliance. The solution is fully integrated within the SmartSearch platform, creating a single, streamlined workflow that combines automated SoF checks with market-leading AML and due diligence capabilities. Unlike fragmented systems or standalone tools, SmartSearch offers everything in one place, which helps to eliminate complexity, reduce operational risk, and accelerate transactions.
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This tie-in with Armalytix ends the manual document chasing and verification that slows residential property completions, replacing outdated processes with a fast, automated journey powered by Open Banking.
By validating data directly at the source, SoF delivers solid fraud protection, a complete financial snapshot, and audit-ready compliance. This dramatically reduces fraud risk, provides a comprehensive audit-ready trail, and strengthens regulatory confidence. Fully integrated with SmartSearch’s market-leading AML and due diligence capabilities, the SoF solution adds to the company’s powerful, end-to-end compliance platform.
“This partnership with Armalytix marks a significant step forward in simplifying and securing compliance for our key markets,” said Phil Cotter, CEO at SmartSearch. “The SoF solution provides businesses with an unparalleled level of regulatory confidence and efficiency, allowing them to focus on their core business without compromising on security. This innovative solution will undoubtedly enhance our ability to help them win business through trusted identities.”
“The residential property sector deserves a faster, more trustworthy compliance process,” added Richard McCall, CEO at Armalytix. “Our FCA-regulated Open Banking platform delivers verified, source-validated data instantly. Partnering with SmartSearch means this capability is now integrated into a comprehensive due diligence product, setting a new standard for speed and anti-fraud protection in UK property transactions.”
