This article describes how to use Thirdfort to help a client

Client Care Communications: Preparing Your Clients for Verification

When completing client due diligence, obtaining the required information from your clients as quickly as possible can help keep matters moving smoothly.

Based on our experience working with thousands of regulated businesses, firms that achieve the fastest check completion times are those that clearly communicate with their clients upfront about what to expect during the verification process.

Providing your clients with clear information before they are asked to complete their checks can help reduce delays, answer common questions and ensure they are prepared for what they will need to provide.

What Should You Include?

We recommend being transparent with your clients about any costs that you intend to pass on to them as part of completing their due diligence.

It can also be helpful to include information about the verification process within your client care communications, before your clients are asked to complete their checks.

Below is suggested wording that you can adapt to suit your firm's own client communications.

Completing Your Client Due Diligence Checks

As part of our client due diligence requirements, we ask you to submit your personal information through our third-party app, Thirdfort.

Thirdfort allows you to verify your identity and, where required, provide Source of Funds information. This means there is no need for printing, posting documents or time-consuming office visits — the checks can be completed quickly and securely through the Thirdfort app.

For further information regarding Thirdfort's privacy policy, please visit Thirdfort Privacy

What Your Client Will Need

To complete their checks, your client will need access to a smartphone. If they don't have their own smartphone, they can use someone else's, such as a friend or family member's.

They will also need one of the following valid photo ID documents:

• Passport
• Photocard driving licence
• EU or EEA identity card
• UK Residence Permit

If your client does not have one of these forms of identification, we recommend asking them to let you know as soon as possible.

Source of Funds and Wealth

In some circumstances, for example, where you are acting for a client in relation to a property purchase, you may also be required to obtain evidence of the source of funds and wealth being used to fund the transaction.

Where this applies, your client may be required to provide evidence such as bank statements, payslips or other documents to verify how they have accumulated the funds being used for the matter or transaction.

The Thirdfort app provides a secure and efficient way for your client to provide this information.

Will the Check Affect Your Client's Credit Rating?

When the checks are undertaken, your client's credit file or credit rating will not be materially impacted.

However, the search will leave a 'soft' footprint on their credit file to show that a search has been undertaken.

Why Might You Need Additional Information?

After your client has completed their initial checks, you may need to request additional evidence or information.

This may be necessary to help your firm satisfy its legal, regulatory and internal policy requirements.

If you are unable to satisfy these requirements, you may have to decline to act.

Politically Exposed Persons (PEPs)

As part of your legal and regulatory obligations, you are required to establish whether your client is a politically exposed person (PEP), or whether they are related to or closely associated with a politically exposed person.

A politically exposed person is someone who holds, or has held, a prominent public position. This can include:

• A Head of State, Minister or Deputy Minister
• A Member of Parliament or similar legislative body
• A member of a Supreme Court or other high-level judiciary whose decisions are not subject to further appeal
• A member of a Court of Auditors or the Board of a Central Bank
• An Ambassador, chargé d'affaires or a high-ranking officer in the Armed Forces
• A member of the administrative, management or supervisory body of a state-owned enterprise
• A member of the governing body of a political party

If your client, or someone they are related to or closely associated with, falls into one of these categories, they should let you know.

Where Can Your Clients Get Help?

If your client needs help completing their verification, the quickest and easiest way for them to get support is through Thirdfort's UK-based support team via the in-app Live Chat.

Your clients can also access helpful resources, how-to guides and videos through http://help.thirdfort.com/

Helping Your Clients Complete Their Checks

Clear communication before your client begins their verification can make a significant difference to the speed and efficiency of the process.

By explaining what your client can expect, what documents they will need and why the checks are required, you can help reduce unnecessary delays and make it easier for your clients to complete their due diligence successfully.