Iress and more2life launch real-time equity release KFIs

Iress and more2life have have announced they are extending their integration to launch real-time equity release KFIs.

The move means advisers will be able to generate real-time equity release quotes and KFIs seamlessly from Iress’ online portal, The Exchange, without the need for rekeying data.

more2life has become the first lender in the later life lending market to have this facility.
 
The new capability builds on the initial integration between Iress and more2life in July 2020 and has been developed using DPR’s Distribution Hub, the origination and servicing technology that underpins more2life’s fastpath portal.

Advisers will be able to create a KFI on fastpath, which has been pre-populated with the data that was entered on Iress as part of the initial search, to save time for advisers.

more2life CEO, Dave Harris, commented: “This launch is the next step in our collaboration with Iress as part of our commitment to providing market leading support for our advisers.

“Following on from the launch of quotes and KFI retrieval in 2020, this move will see advisers move seamlessly from their sourcing session on Iress to an application via more2life’s fastpath system. Avoiding the need to key and rekey information is a great step forward for advisers and we are delighted to be the first lender to offer this flexibility via the Iress platform.”

According to the Equity Release Council’s Spring Report, the UK equity release market has steadily climbed to a value of £4.6bn annually, with this rise in the market set to continue in 2021. Iress suggested that building the latest capability into its online portal, The Exchange, will also allow advisers to tap into the potential for growth.

“With consumers increasingly investigating equity release as a way of boosting their retirement funds the need for advisers to be able to access accurate, real-time data is more important than ever,” said Iress executive general manager – commercial, Dave Miller.

“Iress is committed to expanding and enhancing its equity release offering, and this latest integration with more2life is compelling evidence of this.”

DPR director, Andy Cumming, added: “We are seeing a lot of activity among our equity release customer base which is a reflection of how quickly this market is evolving. We are excited to work with our distribution and lender partners to drive further innovation.”

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