Armalytix Debuts First Configurable Source of Funds Reports to Streamline Property Transactions

Armalytix has launched a configurable Source of Funds reporting tool designed to streamline anti-money laundering (AML) and affordability checks within the UK property sector. By allowing legal and property firms to tailor data collection to their specific risk appetites, the update aims to eliminate redundant manual reviews and accelerate the often-convoluted home-buying process.

What was announced

The redesigned Source of Funds reports represent a shift away from the industry-standard fixed data fields, allowing firms to define how financial information is collected, presented, and reviewed. This flexibility addresses a long-standing friction point in the property sector, where different stakeholders—including estate agents, mortgage brokers, and conveyancers—often require different depths of evidence for the same transaction. Rather than a standardized format, firms can now configure reports around their own internal processes and evidential requirements.

The platform’s key capabilities include the collection of bank data via open banking, statement scans, or CSV uploads, aggregating information from multiple banks and accounts into a single report. It offers up to two years of transaction history and provides market-leading analysis to simplify complex client finances, with income and large transactions clearly flagged for review. Furthermore, the tool includes dedicated workflows for related third parties, such as those providing gifted deposits or co-buyers.

According to Armalytix, firms using these reports typically save between one and two hours per transaction on Source of Funds reviews. By consolidating data collection into a single secure open banking journey, the tool can produce specific reports for different parties—such as a full Source of Funds report for a conveyancer or income verification for a lender—from the same underlying data set. This is intended to reduce the frequency of "fall-throughs" caused by administrative delays and the repetitive nature of financial questioning during a home purchase.

"Source of funds is not one size fits all, with different firms having different risk appetites. Reports currently available to firms take a standardised approach which, apart from often missing key information altogether, can leave teams wading through information that is not relevant, jumping between pages or reviewing details in an order that doesn't make sense to them."

Alex Mangan, Head of Sales at Armalytix

The companies involved

Armalytix is a specialist intelligence firm that provides precision client information for anti-money laundering (AML), affordability assessments, and financial risk management. The company has positioned itself as a critical infrastructure provider for the legal and property sectors, focusing on digitising the complex "Source of Funds" and "Source of Wealth" requirements that often bottleneck high-value transactions.

Operating in a highly regulated environment, the firm leverages open banking technology to replace manual, paper-based evidence collection. Its tools are designed to help firms meet stringent compliance obligations while improving the end-user experience for consumers. The company has established a significant presence in the UK conveyancing market, where it seeks to bridge the gap between financial data providers and legal professionals who must interpret complex financial histories to prevent financial crime. By focusing on data orchestration rather than just data provision, Armalytix aims to reduce the administrative burden on both the professional and the end client.

What FF News has reported before

FF News has followed the company’s expansion into the broader property ecosystem, notably when Armalytix Expands Beyond Conveyancing to Support the Full Property Transaction Chain. This move was followed by the introduction of integrated solutions, as seen when Armalytix Launches Complete Compliance Bundles to Reduce Duplication and Delays in Property Transactions to further mitigate administrative friction. More recently, the firm strengthened its leadership team to navigate the evolving regulatory landscape, as reported in Armalytix Appoints Arvin Razon as Head of Legal to Scale UK Property Compliance Infrastructure. These developments highlight a consistent focus on reducing the "re-keying" of data across the property transaction lifecycle.

What this means

This announcement highlights a necessary shift in the AML market from mere data provision to sophisticated data orchestration. For years, the property sector has been plagued by "compliance fatigue," where buyers are asked for identical bank statements by multiple entities. By allowing firms to configure reports from a single data source, Armalytix is challenging the utility of static, one-size-fits-all PDF reports that have long been the industry norm. This puts significant pressure on legacy compliance providers to offer more granular control over data presentation. The move also raises the question of whether the industry is finally moving toward a "single source of truth" for financial data, which could drastically reduce the high rate of transaction fall-throughs caused by fragmented verification processes.