Credit reference agency partners with fintech platform

Smartr365 uses cloud-based technology to enable clients to share data such as the value of their home and mortgage balance with a financial adviser.

Under the new partnership, Smartr365 users will have access to Callcredit’s MOGObankconnect app, providing them with the ability to confirm income and expenditure assessment in real-time by sharing their online banking transaction data.

Neil Robinson, business development manager at Callcredit Information Group, said: “There is a growing demand to speed up the application and [decision-making] process, while maintaining compliance with responsible lending rules and guidance.

“Unlike other companies operating in this market, this is the only solution which serves as a direct connection from the consumers’ device to their bank, and does not involve the disclosure or storing of their bank log-in credentials.

“This will help brokers reduce application times, meet regulatory obligations under ever more rigorous affordability assessment guidelines, while making the mortgage-application process quicker and easier for the consumer.”

MOGObankconnect extracts data straight from a customer’s online banking session and sends it directly back to a broker.

After joining with Smartr365, the app also now provides access to a customer’s credit report, further helping brokers to assess suitability for a mortgage.

Conor Murphy, director of Smartr365, added: “We’re delighted to be partnering with Callcredit to be able to offer our advisers new software that will benefit them and their customers.

“We were specifically looking for a bank statement retrieval solution and credit reports to build in to our proposition, but we have found a unique solution that provides so much more.”