Open banking powered CDD/KYC
Know the customer. Understand the funds. Evidence the risk.
VeriSource uses secure, consent-based open banking data to support CDD/KYC, source-of-funds assessment, source-of-wealth plausibility and financial capacity review.
Consent-based · Open Banking powered · Human review stays in control · Defensible evidence trail
VeriSource is in active development. The first-user program is working with organisations that already carry these obligations, and shapes the workflow, the reporting and the commercial model.
The problem
Rising expectations, and evidence that is hard to assemble.
Organisations are facing increased AML/CTF expectations, rising compliance complexity and greater scrutiny around customer due diligence, source of funds and transaction risk.
Manual document collection is slow and inconsistent
Bank statements are difficult to review at scale
Source-of-funds evidence is often incomplete
Enhanced CDD decisions can be hard to document
Compliance teams need clearer audit trails
Executives and boards need confidence in risk controls
The solution
Customer-permissioned financial data, turned into a structured assessment.
VeriSource transforms customer-permissioned financial data into a structured compliance assessment - the evidence, the indicators and the record, in one place.
Core outcomes
- Verified identity and bank account ownership
- Clear source-of-funds analysis
- Financial capacity profile
- AML/CTF risk indicators
- Enhanced CDD triggers
- Compliance-ready report output
- Audit trail for internal review
Capabilities
What VeriSource helps your organisation do.
Verify customer identity and account ownership
Confirm the person is who they say they are, and that the account being relied on is actually theirs.
Assess source of funds
Analyse consented transaction history, income patterns and fund movement behind a specific transaction.
Support source-of-wealth plausibility checks
Test whether the wealth position a customer describes is consistent with the financial data they shared.
Understand financial capacity
Build a picture of income, balances and commitments, so a transaction can be read against the customer profile.
Identify AML/CTF risk indicators
Surface the patterns worth a second look - unexplained deposits, rapid movement, third-party funding.
Create a defensible compliance evidence trail
Keep a record of what was checked, what it showed and when, assembled as the work happens.
Reduce manual document collection
Less chasing for statements, less handling of PDFs, less administrative burden on the team.
Support enhanced customer due diligence workflows
Feed the EDD step that already exists in your program, at the point it needs financial evidence.
Independent verification
The check runs on your behalf. The customer’s statements never cross your desk.
VeriSource manages the assessment as an independent party. The customer shares their financial data with us, not with your staff - so you get the evidence you need to show you checked, without taking custody of somebody’s transaction history to get it.
Industries
Regulated, and soon-to-be regulated.
The same verification problem appears wherever an organisation has to evidence where a customer’s money came from.
Registered clubs
When your AML process reaches source-of-funds verification, give an identified customer a secure way to share relevant financial information - and your compliance team a clearer evidence trail.
Professional services
Built for accountants, legal and conveyancing teams and real estate professionals handling source-of-funds checks - less bank-statement chasing, a clearer record for the file.
First-user program
Help shape it around the way your organisation actually works.
VeriSource is in active development. The first-user program is working with organisations that already carry these obligations, and shapes the workflow, the reporting and the commercial model.
The focus
- Reduce manual handling
- Reduce customer follow-up
- Create clearer evidence
- Measure time saved
- Test the report format
- Learn what reviewers actually need
FAQ
Questions we are asked most.
What does VeriSource do?
VeriSource uses consent-based open banking data and verification tools to support CDD/KYC, source-of-funds assessment, source-of-wealth plausibility and financial capacity review.
Does VeriSource replace our AML/CTF program?
No. VeriSource supports your AML/CTF process by providing evidence, risk indicators and structured reporting. Your organisation remains responsible for compliance decisions.
Can VeriSource verify source of funds?
VeriSource can support source-of-funds assessment by analysing customer-authorised banking data, transaction history, income patterns, account ownership and fund movement.
Can VeriSource verify source of wealth?
VeriSource can support source-of-wealth plausibility checks. Broader wealth sources such as property, business ownership, inheritance, superannuation or external investments may require additional documentation.
Is customer consent required?
Yes. VeriSource is designed around secure, consent-based access to financial data.
Who is VeriSource for?
VeriSource is designed for regulated and soon-to-be regulated organisations including clubs, accountants, lawyers, conveyancers, real estate agencies, lenders, fintechs and wealth advisers.
Can we use VeriSource today?
Not yet. VeriSource is in active development. The first-user program works with organisations that already carry these obligations, to validate the workflow, the reporting and the commercial model.
Know the customer. Understand the funds. Evidence the risk.
See how VeriSource can support your AML/CTF customer due diligence process.