SOURCE OF FUNDS · SOURCE OF WEALTH
Source of funds checks that hold up
Beyond conveyancing, the same question follows every matter that moves client money. ExactSum reads the statements behind it and evidences where the funds were earned, held, or received.
On every client file
- 01 Income established from what actually landed, not what was declared
- 02 Accumulated wealth separated from recent, unexplained credits
- 03 Cash, overseas and third-party payments surfaced for review
- 04 A dated record of the checks, kept with the matter
99.4%
extraction accuracy, measured against manual review
50 in 5
client files read in five minutes, not five days
Zero
data retention — Cyber Essentials certified
01 / The file
The checks that eat a fee earner's week
Regulators expect the reasoning to be documented, not just the conclusion. That reasoning has to be built out of raw statements.
01
Wealth accumulated across decades and several accounts
02
Beneficiaries whose income does not match the sums involved
03
Payments from a third party nobody has explained
04
Business and personal money mixed in one account
05
A file note that has to survive a review years later
02 / What comes back
What comes back on a client file
The same modules that read a borrower's statements read a client's, and every finding cites the line it came from.
Where did the wealth come from?
Does the pattern fit the client?
What needs documenting?
03 / Your checks
Your firm's policy, applied consistently
Your MLRO sets the thresholds and the red lines once. Every matter is read against the same standard, whoever is running it and however busy the week is.
Clear
The funds are accounted for and the record is complete.
The record goes on the file, dated and evidenced.
Query
A credit or a pattern the client needs to explain.
A specific question, with the line that prompted it.
Escalate
A red line your policy says goes straight to the MLRO.
Raised with the evidence, before the money moves.
Every outcome links back to the transactions that produced it.
04 / What changes
What changes for the firm
One standard across every matter
The same checks run whoever holds the file, so quality does not depend on which fee earner picked it up or how full their week was.
The reasoning is written down
Regulators ask why you were satisfied, not just whether you were. Every conclusion keeps the statement line that supports it.
Onboarding stops stalling
Files that would have waited days for a manual read come back the same morning, so the matter moves while the client is still engaged.
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 file you have already cleared
Send us the statements from a matter you have signed off. We will show you what ExactSum returns and how it compares to the checks your team ran.