KYB Trusts

AI Assist - Trust Deed Reader.

Onboard a trust with a single click? Don't mind if I do.

Exceptionally easy, completely private.

The Trust Deed Reader currently extracts:

  • Ultimate beneficial owners
  • Persons of significant control, e.g.
    • Trustees
    • Settlors
    • Appointors etc. 
  • The settlement sum
  • Associated page numbers so users can edit or correct results if needed

    Learn more about Source by First AML

Auto-build visual trust structures.

Once confirmed, the trust structure and associated information is automatically visualised as an entity structure. From here, it's a few simple clicks to request verification information for all relevant parties and you're done. 
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We created our AI-assist trust deed reader because manually reviewing these dense legal documents is a nightmare. By leveraging advanced natural language AI, we automatically surface the relevant information allowing our customers to conduct KYC with far greater speed and accuracy - a game-changer for bolstering AML programmes."

-  Mieke Vercruyssen, Innovation Product Manager, First AML.

Trusted by local and global companies

Blackbird VC
Gibson Sheat Lawyers
Grant Thornton
20VC
Flude Property Consultants
BHP

AI Assist - Trust Deed Reader
FAQs

Everyone’s talking about AI, are you actually using it?

Yes, we use OCR technology to first extract the text and then run a series of AI queries over it to surface the relevant information.

How did you train the AI?

Using our many years of experience offering AML managed services, we used techniques to describe the data we are looking for in natural language. This allows us to guide the AI model on what to look for without using personal data or live trust deeds. For example: 

  • “Where multiple lists of names are given, each followed by a role in brackets, the roles relate to the preceding list of names.”
  • “Sometimes names are given along with their profession. Do not extract the profession, only the name.”

Is my data safe?

Yes, for full information please review our security centre and the full AI addendum.

What information does it extract from a Trust Deed?

The Trust Deed Reader currently extracts:

  • Ultimate beneficial owners
  • Persons of significant control, e.g.
    • Trustees
    • Settlors
    • Appointors etc. 
  • The settlement sum

Associated page numbers are also highlighted so users can edit or correct results if needed.  

How accurate is it?

Testing has shown the Trust Deed Reader to be ~90% accurate.

What language, format and sizes of file does it accept? 

Currently the Trust Deed Reader accepts English language deeds in a  PDF format which is ~25 pages or 12,000 words long.  

Can I upload multiple trust deeds at once? 

Not currently. Each deed currently needs to be uploaded separately in order to be read.

Does the AI also check for tampering, spoofing or any other irregularities?  

Not currently.  

Every trust deed looks different and has different formats. Can the Trust Deed Reader handle multiple formats?

Yes. Because we use a natural language AI model to extract the relevant information it doesn’t matter how the deed is laid out.  

 How much do you charge?

The Trust Deed Reader is free until 1 July 2024. After that it will cost 0.25 units per trust.

Do we have to use this feature?

No. Users are given the choice to use the Trust Deed Reader or not.  

What else are you planning on doing with this technology?   

Additional capabilities include the ability to extract:

  • Name of the trust 
  • Trust information: 
    • Beneficiary names
    • Trust class
    • Protectors, guardians etc.
  • Amendment deed information
  • Certification date