Twenty7Tec has developed an in-house criteria search to sit alongside its sourcing system on CloudTwenty7 platform.
The functionality is currently being trialled with a select number of broker firms ahead of a wider rollout in June.
The additional feature is to be free of charge until the end of 2021.
James Tucker (pictured), chief executive of Twenty7Tec, said: “Bringing both product and criteria searching onto one single platform, and enabling advisers to use one single set of client data for both, has been a long held ambition of ours and I am delighted that we have begun now to roll this out to our users”.
“With the addition of this new criteria search functionality to SOURCE, alongside our integration with Mortgage Broker Tools for affordability calculations, we continue to deliver on our primary goal as a business – to develop technology that makes the process of searching, applying for, and obtaining a mortgage simpler, faster and more efficient”.
SmartSearch facial recognition
Digital anti-money laundering platform SmartSearch has added facial recognition to verify borrowers’ identity.
The feature allows Know Your Customer checks, and screens against global sanctions and politically exposed persons.
Electronic checks using credit reporting data will bring to light any discrepancies in a client’s personal history and clearly flag up where further action is required.
John Dobson, chief executive of SmartSearch, said: “We are here to make our clients’ lives easier, and give them peace of mind not only that they are meeting their due diligence responsibilities, but also guarding against unscrupulous criminals.
“The risk of a firm being targeted by money-launderers varies but the impact if it fails to detect and report any wrongdoing can be devastating.
“With many elements of social distancing likely to remain in place for some time to come, doing this in person, face to face, is no longer possible. Our facial recognition feature means our clients can do everything remotely – protecting their businesses from fraudsters and their staff from exposure to Covid-19.”