Fintech company Click2Check has launched Credit Assess, a white-label online solution for mortgage advisers to obtain credit scores, reports and bank statements in order to help pre-qualify clients.
Credit Assess is a pre-sales tool allowing advisers, with the consumer’s consent, to access their credit score and report, while using open banking technology to deliver bank statements in minutes.
This will enable advisers to analyse a consumer’s affordability and risk for lending.
Pre-qualification checks offered by Credit Assess can be undertaken prior to an advice process commencing, allowing the adviser to determine at an early stage whether the consumer will be successful in securing mortgage finance.
Credit Assess works with Equifax UK in order to access scores and reports.
By pre-qualifying all potential customers, mortgage advisers and firms will be able to direct their resources and advise the consumer on what they can do with their existing credit position.
By streamlining and time-saving, the tool aims to help advisers accept additional levels of business using existing resources.
Click2Check also offers an API function so advisory firms can feed the credit report and bank information into third-party proprietary software such as point-of-sale and customer relationship management (CRM) systems.
Credit Assess is available to all advisory firms, distributors, CRM providers and networks, and is provided with a full training package.
David Jones (pictured), director of Click2Check, said: “After a number of months of development and a trial period, we are very pleased to be launching Credit Assess to the entire advisory market today, giving firms their own branded credit and open banking solution without having to go through the red tape, time or money of developing it themselves.
“With credit information strictly controlled by credit reference agencies due to the sensitivity of the information held, in general terms, only loan originators – lenders and the consumer themselves – can normally access a credit report.
“However, by working with the client and utilising Credit Assess, advisers can secure access to all their credit and banking information, which will allow them to start the client journey with a full picture of their finances.
“This will ensure efficiencies and total transparency, allowing the adviser to provide their advice and recommendations on the actual situation and will ensure the best chance of completing the mortgage within the necessary timescale.
“We provide full training on the system, which is very easy to use, plus we can white-label the product adding a much-needed service to the firm’s brand and ensuring total client ownership.
“We know these are challenging times for advisers and we believe this will both speed up the advice process and offer a true added-value service giving firms full sight of their client’s financial picture.
“This allows them to pre-qualify leads and ensure the right advice and recommendations are delivered at the appropriate time.
“We are looking forward to talking to the entire advisory community and other stakeholders to show how the Credit Assess product fits in with their needs both now and in the future.”