Iress integrates with Knowledge Bank to help mortgage brokers focus on client advice
27 April 2020
Iress today announces that it has integrated its Xplan Mortgage software with criteria search system Knowledge Bank. This integration allows mortgage brokers using Xplan Mortgage to use Knowledge Bank to quickly and easily check the criteria of lenders across the market, making it far easier to source the right mortgage for non-traditional customers. The time saved in checking criteria can then be used to provide value-added services and advice to clients.
In today’s mortgage market determining what is the best mortgage product for a client can be difficult. Traditionally, once products have been sourced, brokers then have to check multiple lenders’ systems to check what their lending criteria is, and whether the product is the right one for their client. With the integration of Knowledge Bank, they will be able to do this seamlessly in one place at no additional charge. Knowledge Bank holds over 100,000 pieces of lending criteria for over 200 lenders and its system saves brokers the time and frustration of searching for lending criteria across multiple providers.
Andrew Simon, Executive General Manager, Product, UK Iress said: “We’re thrilled to be integrating with Knowledge Bank. At this particularly difficult time in the market we’re trying to make the lives of our customers easier and this integration means that, rather than spending time checking lending criteria, they can focus their efforts on where it’s most needed - on advising their clients and providing value.”
Nicola Firth, CEO of Knowledge Bank said: “It is no longer a viable option to search only for mortgage products and not criteria. Since the coronavirus outbreak and the announcement of payment holidays, more than 4000 pieces of criteria have changed in under a month, but even before then there were 9,200 pieces of criteria either added or changed in the first quarter of this year, so it is clearly impossible for anyone to keep this in their head. This integration with financial technology company Iress, and its mortgage software Xplan, means that brokers can now search for both products and criteria all in one place receiving the most accurate and up-to-date information.”
