UK fintech Kord [1] is launching the UK’s first dedicated legal sort code: 04-10-26. The payment infrastructure, Kord Custody, decouples legal settlements from traditional banking hours to enable instant settlements, linked to a sort code that reflects its Sunday 4th October launch. Acting as a trusted network for legal transactions, it provides a more secure and efficient payment standard for the sector and is available to all eligible regulated law firms across the UK.
For decades, legal transactions have relied on payment infrastructure designed for general banking rather than legal settlements. Large client money transfers often take place under significant time pressure, particularly on Friday afternoons, while banks have limited visibility into the legal context behind each payment. This combination has created operational bottlenecks and opportunities for fraud. By introducing this dedicated sort code, Kord brings payment and verification together in a single trusted network. Every account using the sort code belongs to a regulated firm which has undergone Kord’s onboarding and verification, meaning trusted counterparties can be identified before sending client money. Participating firms can also transfer funds instantly at any time, including weekends.
Kord is used by estate agents & letting agents, law firms & conveyancers and financial services companies, and client funds are safeguarded with ClearBank under FCA safeguarding regulations. Accounts operating under the 04-10-26 sort code can receive payments via Faster Payments, CHAPS and BACS, while Kord also supports card payments and digital wallets including Apple Pay and Google Pay.
James Owusu, CEO and founder of Kord, said: “Buying a home or settling a major commercial matter should not depend on whether a bank is open. This launch marks the moment that legal transactions leave banking hours behind. Crucially, it provides enhanced security alongside greater operational efficiency. Fraudsters often exploit uncertainty, but our settlement network embeds trust and verification into each transaction, helping end Friday afternoon fraud. The legal sector finally has infrastructure designed specifically for its needs.”
Steve Carle, Kord Board Director appointed by Guinness Ventures, said: “Kord Custody sits alongside Kord’s existing client verification (Checkboard), eligibility (Kord Data), and secure payments (Kord Pay) propositions, supplying the missing link to law firms to enable high-value transactions, backed up by a full audit. This gives our customers a full service offering which is unique in the market, providing them with the assurance that money is moving safely and securely from one correct account to another.”
Kiu Kim, Investment Director at Beringea and Board Director at Kord, said: “Client money sits at the centre of a law firm’s risk, and the infrastructure managing it hasn’t kept pace with regulation. Kord Custody removes that risk at source rather than insuring against it after the fact, and is the kind of category-defining product we backed Kord to build.”