SOURCE OF FUNDS

Source of Funds. Made Simple.

Verify income with HMRC and see your client’s full transaction history through Open Banking, with all data consolidated in one Risk Report.

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Veyco Risk Report showing HMRC-verified employment data next to the client's declared income

HMRC INTEGRATION

Income Verified by HMRC.
Not Read Off a Payslip.

Payslips can be edited. HMRC records can't. Veyco is integrated with HMRC and can verify exactly what your client earned, at the employer they named, over the period you need.

Employment income pulled straight from HMRC

Earnings for a specific employer over a set period

Verified next to declared, so any gap jumps out

HOW IT WORKS

Three Steps. Under 5 Minutes.

Employment

Income verified with HMRC or payroll, next to what the client declared.

Source of Wealth

Establish how the client has accumulated their wealth and identify its original source.

Source of Funding

Every pound evidenced and reconciled against the purchase price.

OPEN BANKING

Open Banking.
The Full Financial Picture.

Clients connect their bank in a few taps. You get their full transaction history, analysed, giving your team full visibility of how their funds were accumulated over time.

Veyco app screens showing a client connecting their bank via Open Banking

Full Transaction History

Every credit and debit, categorised, to show how funds were accumulated.

Income and Outgoings

Average in, average out and the client's average balance over time, at a glance.

Red Flags Surfaced

Cash deposits and large repeating payments flagged for review.

AI Powered Risk Intel

AI analysis of all client data, creating supplementary follow-up questions.

AI FOLLOW-UP QUESTIONS

AI Analysis and Follow-ups

Veyco's AI reads every payment in your client's banking history. Anything unusual is flagged for your team, and your client is asked to explain it in the app. Nothing slips through the cracks.

◎Scanning 6 months of transactions

01 MarSalary· Dentist+£4,367.00

03 MarRent−£1,450.00

14 MarCash deposit+£9,500.00

16 MarGroceries−£86.40

28 MarSalary· Dentist+£4,367.00

AI reviews every payment

Incomings and outgoings across the full banking history, read and categorised automatically.

→

⚑

Unidentified payment

Partner view · AI review

£25,000.00

Transfer in · 02 Apr 2026

From J SMITH, not a declared source

⚠ ConsiderClient asked

Flagged for your team

Cash deposits, third-party transfers and odd patterns are surfaced, so nothing gets missed on review.

→

✦ AI follow-up

Unidentified Credit.
Please provide more information regarding the payment of £25,000 into the account ending 5467 on the 23rd February 2025.

A gift from my dad towards the deposit. Gift letter attached.

Your client explains

Tailored questions go straight to the client in the app. Their answers sit next to the flag in the Risk Report.

Your firm reviews every flag and answer. Decisions stay with you.

ONE RISK REPORT

Identity.
AML.
Address.
Funding.
One file.

Declared and verified side by side so gaps stand out. Your fee earner sees the full picture in one place.

Veyco Risk Report cover and Source of Funds summary

START TO FINISH

One Sign In. One Journey.

Most firms run onboarding, ID checks, source of funds, SDLT and digital signing through separate tools. Veyco does it all in the same app, one seamless journey and one risk report.

Onboarding

↓

ID + AML Checks

↓

Transaction Funding

↓

Digital Transfer of Equity

↓

Tenancy Referencing

↓

QES

Veyco app screens: face scan ID check, source of funding list and check completed

SOURCE OF FUNDS EXPLAINED

Frequently Asked Questions

What's the difference between Source of Wealth and Source of Funding?

Source of Wealth is how the client built up their money overall. Source of Funding is where each pound for this purchase comes from.

How long does it take the client?

Around 5 minutes for most clients. It runs in the same Veyco app as their ID check, with no new login, and they can connect their bank through Open Banking or upload PDFs.

Can clients still upload PDF statements?

Yes. Clients can upload PDF bank statements instead of connecting through Open Banking. Open Banking gives your team a stronger report, with the full transaction history analysed, and usually means fewer follow-up queries.

What about gifted deposits?

Every donor gets their own secure link to the Veyco app. They complete the same biometric ID and AML checks as your client, then evidence the gift. Their details aren't shared with your client, and each donor gets their own Risk Report.

Does it work for joint purchasers?

Yes. Each purchaser completes their own checks and source of funds journey in the app, and everything sits together on the case, so you can see how the full purchase price is covered.

Can we use Source of Funds without the rest of Veyco?

Yes. Source of Funds can be set up on its own, or as part of the full Veyco journey alongside ID checks, onboarding, Stamp iQ and QES. Already using Veyco for ID checks? Speak to your account manager about switching it on.

See Source of Funds
in Action.

Speak to the Veyco team today to see HMRC-verified income, Open Banking and ID checks working together in one app.

Book a Demo