Knowledge Bank and Iress have teamed to a fully-integrated product and criteria sourcing system.
The two firms say that, through a single Iress search, mortgage advisers will be able to find the exact lender to suit their clients’ needs, via a single login. The system will then display results detailing the lenders who will accept the client based on both the products available and the criteria circumstances.
They first partnered in April 2020 to provide a degree of integration, but has now taken things further.
Nicola Firth, CEO of Knowledge Bank, said: “The result of this collaboration is a system that will revolutionise the market. It creates the ultimate sourcing tool for brokers to get the best possible outcomes for their clients.
“It is no longer a viable option to search only for mortgage products and not criteria, not with over 52,000 criteria changes in 2020 alone – that’s 1000 changes to criteria every single week. So by teaming up with Iress we have ensured that brokers can get both the most accurate and up-to-date product and criteria information all in one place.
“Never again will it be necessary for brokers to log into multiple different systems, spending hours cross-referencing and rekeying client data, to find which lender will provide a mortgage for their client. This can now be done in moments, pulling all of the information into one place and providing robust evidence of research for compliance purposes satisfying the FCA’s requirements.”