Why Source of Funds can be challenging today
Firms tell us that traditional SoF checks can feel frustrating:
❌ Incomplete or irrelevant data – Clients often don’t provide the right details, leaving compliance teams with gaps.
❌ High effort for clients and teams – Clients feel unsure about what’s needed, and fee earners spend time chasing.
❌ Missing context – Bank statements rarely explain why funds are available.
❌ Limited visibility – Without deeper insights, firms risk overlooking red flags or facing regulatory scrutiny.
How Legl’s Smart Source of Funds helps
Our updated Smart SoF combines guided client journeys with powerful financial insights to give you a complete picture:
✅ Guided client journeys – Clients follow simple, tailored questions that make it easy to provide the right evidence and context.
✅ Built-in support – Clear explanations reduce confusion, improve completion rates, and build client confidence.
✅ Financial insights surfaced automatically – Go beyond raw documents with:
Regular income and salary analysis
Outgoing transaction patterns
Large one-off payments
Account balance trends
Higher-risk activity (cash deposits, non-UK deposits, crypto)
✅ AI-powered transcripts – Rich client responses provide narrative context alongside financial data.
✅ Less back-and-forth – Clients submit everything in one place, cutting down on delays and admin.
What sets Smart Source of Funds apart?
Legl’s Smart SoF gives you more than just documents. You get actionable insights into your client’s financial behaviour, allowing you to:
Understand the story behind the funds, not just the statements.
Spot risks earlier with clear financial patterns.
Make faster, more confident compliance decisions.
Deliver a smoother client journey that reduces friction and frustration.
So, what sets Smart Source of Funds apart?
How does Smart Source of Funds work?