CONVEYANCING · SOURCE OF FUNDS
Where the deposit came from, evidenced
Buyers send twelve months of statements as a PDF, a scan, or photographs taken on a phone. ExactSum reads them, traces the deposit back to where it was earned or held, and gives you the lines behind every conclusion.
On every buyer file
- 01 Each credit that makes up the deposit, sized and dated
- 02 Savings built over time separated from money that arrived at once
- 03 Gifts, sale proceeds and overseas transfers identified
- 04 A file note you can put on the matter, with the statement lines attached
99.4%
extraction accuracy, measured against manual review
12 months
of history read on every account the buyer provides
Zero
data retention — Cyber Essentials certified
01 / The file
Why deposit checks take so long
The money is rarely in one place, and the statements rarely arrive in one format. The work is reconstructing a story from several accounts at once.
01
A deposit assembled from three accounts and a gift
02
Statements photographed on a phone, one page at a time
03
A large credit with a description that explains nothing
04
Overseas transfers with the sending account obscured
05
Buyers who send the wrong months and have to be chased
02 / What comes back
What comes back on a buyer file
Every module runs on every account the buyer provides, and every finding points back at the statement line it came from.
Where did the money come from?
Does the income support it?
What should you ask about?
03 / Your checks
Your firm's risk appetite, applied to every file
Set the thresholds your MLRO signs off once — what size of credit needs explaining, which sources need documentary backup, what always escalates — and every buyer file comes back against them.
Clear
Every credit traced to a source you accept.
The file note is ready to go on the matter.
Query
Something needs the buyer to explain it.
The exact credit to ask about, with its date and amount.
Escalate
A pattern your policy says must go to the MLRO.
Flagged with the evidence attached, before completion.
Every outcome links back to the transactions that produced it.
04 / What changes
What changes for the firm
Chasing stops being the bottleneck
You know on day one which credits need explaining, so you ask once instead of three times across three weeks.
The file defends itself
Every conclusion carries the statement line behind it, so the matter file stands up to a file review or an audit years later.
Fee earners stop reading statements
The reading is done before anyone opens the file. What reaches a fee earner is the handful of things that actually need judgement.
05 / Coverage
Works when Open Banking doesn't
No consent, no integration. If the applicant can produce a statement, ExactSum can read it.
Any document
The bank's PDF, a scan, or a phone photo — all read the same way.
Twelve months, not ninety days
A full year of history where Open Banking shows a quarter.
Accounts APIs can't reach
Foreign accounts, business accounts, legacy banks, and applicants who decline to connect.
Also
Also for law firms
Try it on a matter you have already closed
Send us the statements from a purchase you have completed. We will show you what ExactSum returns and how it compares to the checks your team ran.