Armalytix Unveils Compliance Tools for Commercial Property and Corporate Lawyers

Armalytix, a leading fintech enabling firms to establish their client’s financial position for compliance, affordability and more, has unveiled enhanced Source of Funds (SoF) solutions tailored for Commercial Property and Corporate Law lawyers. These new tools simplify the verification of how businesses fund transactions, ensuring lawyers and their firms meet regulatory requirements efficiently while reducing administrative burdens.

As financial crime risks escalate and regulatory scrutiny increases, legal professionals must now demonstrate clear evidence of how transactions are funded, even when funds do not pass through client accounts. Recent Solicitors Regulation Authority (SRA) guidance highlights the importance of SoF checks in both transactional and non-transactional matters. Armalytix’s latest innovations provide a structured, technology-driven approach to help firms navigate these complexities.

Legal professionals face significant hurdles in conducting SoF checks, including:

• Complex financial structures and money movements between companies.
• Varying levels of complexity in each transaction.
• Sensitivity around requesting financial evidence from long-standing corporate clients.
• Manual, time-consuming processes that slow legal workflows.

Armalytix’s dedicated solution offers a customised SoF questionnaire, collecting structured financial information and evidence for compliance and risk assessment, saving lawyers time and effort. The unobtrusive process is designed to streamline financial verification, while Armalytix is one of the first to offer Metro Open Banking Integration.

For Commercial Property Lawyers 

The solution simplifies SoF checks in real estate transactions, reducing the time spent gathering evidence and communicating with clients. By automating these processes, firms can expedite transactions and meet regulatory demands seamlessly.

For Corporate Lawyers

The solution supports compliance with new SRA guidance, which requires firms to establish SoF evidence even in non-transactional matters. This solution ensures firms can navigate complex financial transactions with confidence, mitigating risks associated with financial crime and money laundering.

Tom Lyes, Head of Legal and Property Services at Armalytix, comments: “With increasing regulatory demands, legal professionals need efficient tools to conduct Source of Funds checks without disrupting their client relationships. Our latest solutions provide the technology and automation needed to enhance compliance, reduce risk, and save valuable time.”

In an evolving legal landscape where compliance is critical, Armalytix continues to provide cutting-edge solutions that enable law firms to stay ahead of regulatory changes. By leveraging Open Banking insights and automation, legal professionals can focus on their expertise while ensuring robust compliance.