"We’re delighted to support the relaunch of Calmony’s Client Account product. This is one more win for the proptech industry, ensuring agents can confidently meet regulatory requirements."
- Adam Moulson, Chief Commercial Officer at Griffin
This strategic partnership represents a significant advancement in Calmony's mission to overcome the problems that letting agents face with managing and holding client money. A key highlight of this relaunch is that agents can now open individual client accounts on the Calmony platform, with deposits held by Griffin.
These new accounts have been designed to address anti-money laundering concerns in the lettings sector and, where possible, automate the required checks for unregistered letting agents to ensure compliance. By leveraging Griffin’s customer onboarding solution, Verify, and continuous transaction monitoring for unregistered letting agents, Calmony can effectively navigate AML challenges and the associated risks.
Glyn Trott, Managing Director at Calmony, said: “We’re thrilled to announce the reintroduction of our client accounts for letting agents, now bolstered with Griffin's backing. This collaboration not only allows agents to maintain compliant client accounts but to also manage all the operational aspects of their client accounting effectively.
“It has been a challenging few years for agents trying to open and keep client accounts, with some agents forced down the route of expensive outsourcing. Banking as a Service provided by fully regulated banks is solving a real problem for letting agents and the proptech industry.”
Adam Moulson, Chief Commercial Officer at Griffin, added: “We’re delighted to support the relaunch of Calmony’s Client Account product. This is one more win for the proptech industry, ensuring agents can confidently meet regulatory requirements while focusing on delivering exceptional service to their clients.”
