Thirdfort launches campaign highlighting compliance risks for property firms
The firm has launched its 'No More Workarounds' campaign alongside two films focusing on the onboarding process and the role of senior compliance professionals.
Thirdfort has launched a campaign highlighting the risks that fragmented compliance processes can create for property firms.
The client due diligence platform said compliance teams at law firms, conveyancers and estate agencies were under increasing pressure to balance regulatory requirements with client experience and operational efficiency.
While digital onboarding and anti-money laundering (AML) technology is widely used across the property sector, Thirdfort said many regulated firms did not have a single due diligence process.
Instead, different tools and processes may have been combined over time, creating additional administration and potentially leaving firms exposed to unidentified risks.
Thirdfort said fragmented processes could also increase the time required to onboard clients from hours to weeks or longer.
The firm has launched its ‘No More Workarounds’ campaign alongside two films focusing on the onboarding process and the role of senior compliance professionals in protecting their businesses.
The films are based on conversations Thirdfort has held with compliance teams about the challenges and expectations they face.
Olly Thornton-Berry, co-founder and CEO of Thirdfort, said: “Compliance professionals in property firms are dedicated and hardworking professionals.
“They face increasing expectations from regulators and clients alike.
“Yet many are dealing with fragmented processes that create additional administration and may conceal firmwide risks.
“That’s why we’re highlighting the risks of such processes and making the case for client due diligence that puts compliance professionals in control.”
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