Deal enables easier electronic identity and verification checks for advisers
Mortgage intermediaries platform Acre has integrated Equifax into its software, allowing advisers to undertake fast and easy electronic identity and verification (EIDV) checks as part of the mortgage application process, at no additional charge.
“This move is a game-changer for brokers and advisors as they can now access precise credit data without using any third-party sites,” Justus Brown, chief executive and founder of Acre, said.
Acre’s platform delivers a seamless, simpler homebuying process that provides mortgage brokers with significant productivity gains and increased revenue growth. Its proprietary technology supports mortgage journeys in their entirety – from lead capture and fact finding to research, recommendation, and application.
Equifax’s EIDV product verifies a client’s identity for brokers by cross-referencing their personal information against information held in its databases. It uses technology to assist brokers in meeting requirements for anti-money laundering and combating the financing of terrorism legislations.
“With Equifax, we have seamlessly integrated electronic identity and verification into the platform using the very best in the market. We are automating anti-money laundering and KYC compliance as well as pulling vital credit information,” Brown said.
Equifax’s UK sales director, Mark Bratley, said they are delighted to partner with Acre in helping brokers get to know every client quickly and accurately so that they can match them to the right mortgage.
“The mortgage market continues to grow, and brokers are looking to convert this increase into business. But mortgage applications fall through the cracks because of poor quality of data and a lack of sharing throughout the lending approval process,” he noted.
“Alongside Acre, we aim to help homebuyers improve their credit score by building a fuller picture of their financial health, which helps them access affordable financial products and mortgages,” Bratley added.