Knowledge Bank has launched its application programming interface (API) to allow lenders, networks, mortgage clubs, distributors and even brokers to connect to Knowledge Bank and draw on its vast amount of criteria data.
This can then be used by their own systems with their own branding, creating the same look and feel that the lender or network usually has, effectively integrating some or all of Knowledge Bank’s criteria functionality into their own company.
It will also integrate with brokers’ CRM systems, saving evidence of research directly into a broker’s system against a specific client’s file. Knowledge Bank is also working with several back-office systems to develop a seamless integration for their advisers.
Nicola Firth, chief executive of Knowledge Bank, said: “Lenders, some networks and clubs have been crying out for Knowledge Bank to launch an API so that they can integrate Knowledge Bank into their own systems and white label it if they choose to.
“There have been a number of stories recently, that a lack of integration between the systems and tools that brokers need to do their jobs is holding them back.
“This can mean they have to use many different pieces of software, sometimes entering the same information multiple times.
“Knowledge Bank’s API will help to minimise this issue, making it simpler for them to search for criteria, while also giving the lender or network more access to the data that Knowledge Bank holds.”
The Knowledge Bank API will provide a richer experience for brokers and help to eliminate the multiple hybrid solutions that brokers often find themselves having to adopt.
It will also provide brokers with the ability to search over 60,000 criteria currently on the Knowledge Bank system, but via a different organisation. This is three times more pieces of criteria than is available on any other criteria search system.
The API will enable lenders, networks and packagers to keep their own systems up-to-date, with a feed directly from Knowledge Bank – eliminating the need for criteria to be held on manually updated spreadsheets.
This will help to ensure that there is just one version of a lender’s criteria across all platforms, greatly reducing inconsistencies and inaccuracies.
Knowledge Bank’s API has been developed in such a way that it will be quick and easy for developers in other mortgage institutions to use and add into their own systems.
This will allow another company to use Knowledge Bank’s data but to brand it as their own, effectively providing IT developers with data they don’t own to integrate into the platforms that they do, saving them time and money.
Ultimately it will mean that more users will benefit from using Knowledge Bank although it may be under the guise of a different company.
Knowledge Bank now has more than 60,000 criteria listed from more than 100 lenders, spanning residential, buy-to-let, second charges, equity release, self-build and overseas mortgages.
It has seen a surge in the take up both of 30-day free trials and annual membership since launching its World Cup Special offer of 50% off the usual annual premium for Knowledge Bank, which runs until the end of the World Cup.