In a game-changing move that will serve to give brokers and their clients better
outcomes, Acre, the innovative end-to-end mortgage intermediaries platform, has integrated Equifax, one of the world’s largest consumer credit reporting agencies, into its software. This move will enable advisers to undertake seamless electronic identity and verification (EIDV) checks as part of the mortgage application process at no additional charge.

Acre’s platform delivers a seamless, simpler home buying process that provides mortgage brokers with significant productivity gains and increased revenue growth. By folding Equifax’s Identity Verification services into Acre’s automated customer due-diligence process for every client, Acre is able to keep the fact find and mortgage product search coordinated so that brokers and advisors can be confident on any application submission and not be hit with any surprises.

Acre’s system is designed to give brokers more time to focus on their clients’ needs and delivers better outcomes with less delays. Acre’s proprietary technology supports mortgage journeys in their entirety - from lead capture and fact finding to research, recommendation and application. Acre’s ability to pull data from 45 external sources allows it to create individual, unchangeable records that brokers use to better understand each client’s needs. By eliminating the need to re-key data and automating compliance, Acre facilitates one-click mortgages that accelerates lending to qualified borrowers.

Equifax’s Identity Verification product verifies a client’s identity for brokers by cross-referencing their personal information against information held in its databases. It uses technology to assist brokers in meeting requirements for Anti Money Laundering (AML) and Combating the Financing of Terrorism (CFT) legislations. Equifax’s Credit Report and Score solution also helps brokers gain a better understanding of the consumer’s creditworthiness at the point of fact find.

Justus Brown, CEO and founder of Acre, said: “This move is a game-changer for brokers and advisors as they can now access precise credit data without using any third-party sites. We deliver dynamic lending to borrowers and that involves getting the full picture of each applicant before they go through the decision-in-principle and mortgage application process. With Equifax we have seamlessly integrated electronic identity and verification into the platform using the very best in the market. We are automating anti-money laundering and KYC compliance as well as pulling vital credit information. This way we never have to worry that lenders will find something that could have been addressed up front with the client.”

Mark Bratley, UK Sales Director at Equifax, said: “The mortgage market continues to grow and brokers are looking to convert this increase into business. But mortgage applications fall through the cracks because of poor quality of data and a lack of sharing throughout the lending approval process.

“Acre will now be able to deliver dynamic lending to borrowers using Equifax’s seamless electronic identity and verification platform integration. This will give Acre better visibility of each applicant’s position before they go through the decision-in-principle and mortgage application process.

“Alongside Acre, we aim to help homebuyers improve their credit score by building a fuller picture of their financial health, which helps them access affordable financial products and mortgages. We are delighted to partner with Acre to help brokers get to know every client quickly and accurately – helping match them to the right mortgage.” 

Commenting on her experience with Acre’s new eIDV capabilities, Jayne Hilton, mortgage and protection advisor at Hilton Mortgage Solutions added: “Acre’s credit file function is amazing, especially with debt consolidation. It pulls through a majority of information straight from the credit file to the credit section of the fact find. I then only have to manually input the start and end dates. It made my job so much easier and a pleasure plus it saves valuable time.  I found it even prompts the client as well, as they can sometimes forget a small balance on a card etc. Again, saving time on asking them for their credit file as it's now all in one place feeding into all the required sections. I bow down to all of you involved with the development, you work so hard, listening to feedback and improving the systems.”

To find out more about Acre or to sign up to a demonstration, please visit
www.acresoftware.com