Get Instant Bank Data with Finexer
Connect with 99% of UK Banks and Scale Your Business without Limits
All information in this article has been sourced from Armalytix’s official website, third-party listings, and industry feedback. Pricing is not publicly published by Armalytix – figures cited reflect reported market ranges, not Armalytix-confirmed rates. Information is current as of May 2026.
Armalytix is one of the most-used Source of Funds platforms in UK legal and conveyancing. If you are a compliance officer, COLP, or operations lead evaluating whether it fits your firm’s budget, the first problem you will hit is that pricing is not published. Everything is custom. This guide covers what firms typically pay, what drives costs up, and how Armalytix compares to simpler Open Banking alternatives for legal teams.
TL;DR
Armalytix is an FCA-regulated Open Banking platform specialising in Source of Funds, Source of Wealth, AML checks, and client verification for UK legal, accounting, and insolvency firms. It powers 1 in 8 residential property transactions in England and Wales and has 1,000+ Trustpilot reviews at 4.7 Excellent. Pricing is not published – all costs are usage-based, per report, and negotiated. Firms typically report paying £6-£10 per check, with a minimum commitment of 10 transactions per month. Monthly costs range from £60-£200+ depending on volume and integration level. Armalytix is built for compliance-heavy legal workflows – if you need only bank data access and account verification without the full compliance stack, a simpler usage-based Open Banking provider may be more cost-effective.
Key Takeaways
Who is Armalytix and what does it do?
Armalytix is a UK-based FCA-regulated data intelligence platform for Source of Funds and compliance checks. It uses Open Banking to retrieve client bank data, generates visual compliance reports, and integrates with legal platforms including InfoTrack, Thirdfort, and First AML.
How much does Armalytix cost?
Armalytix does not publish pricing. Firms typically pay £6-£10 per report based on industry feedback, with a reported minimum commitment of 10 transactions per month. Monthly costs for mid-sized firms range from £60-£200+, rising with volume, integrations, and white-label features.
Is Armalytix safe to use?
Yes. Armalytix is regulated by the FCA and uses Open Banking infrastructure under UK Payment Services Regulations 2017. Clients do not need to share login credentials or download any app. Data access is consent-based and audit-ready.
What are the alternatives to Armalytix for UK legal firms?
Finexer provides Open Banking AIS for bank data access, account verification, and Source of Funds checks on a usage-based model with no minimum commitment and no setup fees. It suits legal platforms and firms that need compliant bank data without the full Armalytix compliance stack.
Armalytix has quickly become a well-known name in the legal and financial services space, particularly for Source of Funds checks, client verification, and pre-transaction risk assessments.
It’s often praised for ease of use, FCA registration, and integrations with platforms like InfoTrack, Thirdfort, and various CRMs.
But while the product is clear, the pricing isn’t always.
Armalytix doesn’t publicly list most of its fees, and its usage-based model can lead to unexpected costs, especially for firms running high-volume onboarding or dealing with multiple client cases each week.
If you’re in legal, accounting, or insolvency work and rely on Source of Funds data for compliance and onboarding, this guide will help you assess whether Armalytix is the right fit or costing you more than it should.
Armalytix Pricing Breakdown: What You’re Likely Paying For
All proposals require a sales conversation. Based on industry feedback and third-party listings, firms report a minimum commitment of 10 transactions per month, with per-report costs of £6-£10 for standard Source of Funds checks.
Armalytix now powers 1 in 8 residential property transactions in England and Wales and holds 1,000+ Trustpilot reviews at a 4.7 Excellent rating (Armalytix.com, 2026)
Here’s what we know from client reports, industry feedback, and third-party listings:
Core Products and Services
| Product / Feature | Description |
|---|---|
| Source of Funds Checks | Open Banking data access with categorised reports for AML and client onboarding. Up to 2 years of transaction history. |
| Source of Wealth Analysis | Examines how funds were accumulated over time, not just the origin of a specific transaction |
| Questionnaires and Fact Finds | Legal-endorsed templates or custom questionnaires sent to clients alongside financial data requests |
| Marked-up Bank Statements | Visual reports with highlighted cash transactions, large payments, regular incomings and outgoings |
| Account Verification | Confirmation of account ownership for payment workflows and compliance files |
| Multi-Account Analysis | Clients can link multiple accounts per check – not restricted to a single bank account |
How Armalytix Typically Prices
| Pricing Component | Detail |
|---|---|
| Per-Report Charges | Billed per SoF or SoW report. Reported range: £6-£10 per check based on industry feedback |
| Minimum Commitment | Reported minimum of 10 transactions per month |
| User / Seat Licensing | Team-based accounts or firm-wide access, particularly for CRM integrations |
| Volume-Based Discounts | Available for high-usage legal and accountancy platforms |
| Integration Costs | API-based or white-label integrations may incur additional fees |
| Custom Pricing for Partners | Larger platforms may receive bundled or reseller pricing |
What makes Armalytix distinct is not just pricing – it is what the platform covers. The compliance gap analysis highlights several capabilities that define whether Armalytix is the right fit for your firm.
Armalytix covers:
- Source of Funds checks – bank data retrieved directly via Open Banking, with up to 2 years of transaction history per client
- Source of Wealth checks – how a client’s total wealth was accumulated, not just the origin of a specific transaction
- Marked-up bank statements – visual reports that highlight cash transactions, large payments, and irregular incomings automatically
- Multi-account analysis – clients can link multiple accounts, not just a single bank account per check
- Questionnaires and fact finds – legal-endorsed templates or custom questionnaires sent to clients alongside the bank data request
- Account verification – confirms sort code and account number match the intended recipient
- No app download required – clients complete the journey through a browser or banking app, no installation
Armalytix is designed to replace manual bank statement review for compliance – not as a standalone bank data API.
Example: What a Mid-Sized Legal Firm Might Pay
- 10–20 checks per month → Estimated £6–£10 per check
- Additional fees if using platform plugins or requesting bank statements from multiple accounts per client
- Ongoing access costs if using embedded workflows or branded versions
Most legal and insolvency firms report paying £60–£200+ monthly, depending on usage, though this can grow quickly as caseloads rise.
Law firms evaluating Open Banking providers for AML and Source of Funds workflows can compare tools by legal workflow in the open banking tools for solicitors guide, which covers Source of Funds, verification, and payment tools for UK legal firms.
Is There a Simpler Alternative to Armalytix for UK Legal Firms?
If you’ve ever paid extra just to add a new user, unlock a basic feature, or access one more client account, you’re not alone. Most Open Banking providers weren’t designed for lean teams with real budget limits.
Whether you’re a startup lawtech platform or a mid-size firm managing dozens of checks monthly, Finexer keeps your costs predictable and fair.
Here’s how:
1. No Setup Fees, No Cancellation Charges
You can get started without paying a penny upfront and walk away at any time. There are no hidden onboarding fees or exit penalties baked into contracts.
2. Transparent, Usage-Based Pricing
No per-user licensing. No minimum contract terms. You only pay for what you use, ideal for firms with fluctuating volumes or multiple departments sharing access.
3. Free Dashboard Access
You get full access to Finexer’s dashboard for managing bank data requests, downloading reports, and tracking activity at no additional cost.
4. Unlimited Sandbox for Testing
Finexer offers free, unrestricted sandbox access for testing your workflows. Ideal for teams that want to prototype before going live.
5. Developer-Friendly or No-Code Options
Plug Finexer into your platform using its API for full control or skip the dev work and send branded links or requests right from the dashboard.
6. No Extra Fees for Support or Report Access
Finexer includes access to human support, implementation guidance, and complete data exports at no added cost. You won’t pay extra to retrieve your reports, resolve issues, or get answers when you need them.
7. (2–3x Faster Deployment Than Market Average)
Go live in days, not months. Whether using the dashboard or integrating via API, most teams are fully operational within days
For law firms building or evaluating Open Banking into their AML and onboarding workflows, the AML screening and monitoring guide covers how verified bank transaction data supports compliance checks across legal platforms.
What Legal & Financial Firms Say About Switching to Finexer
Trusted by platforms serving the legal, financial, and compliance sectors, Finexer is more than just a data provider; it’s a long-term partner for firms that need reliability and affordability.
Exactly what we needed, no bloat, no delays.
“Our clients in the legal and accountancy sectors expect the highest standards of efficiency and security, and Finexer’s solutions help us deliver on those expectations every day,”
— David Kern, CEO, VirtualSignature-ID
A true partner for business-first Open Banking.
“Our business isn’t about the volume of consents, it’s about delivering high-quality services to some of the biggest names in the industry. We needed a partner who understood the importance of providing business-focused solutions, and Finexer joined us on that journey.”
— Penny Phillips, Chief Commercial Officer, Sysynkt
Does Finexer offer discounts for startups or small firms?
Yes. Finexer offers fixed, affordable monthly pricing with usage-based flexibility. Custom pricing is available for early-stage platforms or high-volume firms.
Is technical integration required to use Finexer?
Not necessarily. You can either integrate via API or use the no-code dashboard to send branded links, monitor activity, and export client reports instantly.
What problem does Armalytix solve?
Armalytix replaces manual bank statement review for compliance. Instead of solicitors or compliance officers trawling through PDF statements for Source of Funds checks, Armalytix retrieves verified bank data via Open Banking, generates a marked-up visual report, and flags cash transactions, large payments, and irregular patterns automatically – reducing hours of manual review to minutes.
No setup fees. No cancellation fees. Just pay for what you use.
About the Author
Ravi Ranjan
Ravi Ranjan is Co founder & CEO of Finexer