A new link-up has been announced between the US-based credit report agency Equifax and the mortgage and protection platform Acre, with the former now integrated into the latter’s software.
The decision by Acre to integrate Equifax into its technology services will mean that the process of conducting electronic identity and verification (EIDV) checks when working on mortgage applications will be a great deal simpler for mortgage advisors.
In announcing the move, the Acre founder and Chief Executive, Justus Brown, told Mortgage Introducer that it would make a significant difference to the working lives of advisors by letting them get information about client credit ratings without needing to leave the Acre website.
This website was created to make the process of completing home purchases more straightforward, enabling advisors to finalise applications quicker and earn more money. It is able to handle every stage of an application, from finding the right lender and product to submitting the finished application.
The Equifax integration will give it access to that company’s EIDV technology, complete with an internal database that an individual’s personal information can be checked against to verify his or her identity. Brown went on to say that:
“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.”
Anyone with a CeMAP mortgage advisor qualification will know that compliance with know your client (KYC) guidelines is essential, and they should therefore welcome this integration for that reason.