Mortgage platform Smartr365 has announced that it is implementing Experian’s open banking powered technology.

The integration will enable advisers to confirm a customer’s affordability securely as part of their overall mortgage application.

Through Smartr365’s HomeBuyer app, Experian’s Affordability Passport will give users access to a single view of income, expenditure, and financial behaviour.

Smartr365 suggestedthe solution will allow customers to consent, connect and share their financial information, including bank transactions and credit report data, with their broker. The in-built Experian authentication and bank ownership checks verify identity, along with confirmation that an account is valid and owned by the customer.

“This new integration of Experian’s open banking technology will ensure brokers have more time to provide valuable advice at a time when buyers are needing more guidance than ever, which will alleviate some of the stress for everyone involved,” Smartr365 CEO, Conor Murphy, commented. “We’re very excited by this next step in our partnership with Experian and look forward to seeing the benefits this brings to the industry.”

Experian managing director of digital consumer information, Paul Speirs, added: “This is the latest step in this ground-breaking partnership to help move the mortgage process into the digital age.

“By incorporating Experian’s open banking technology into Smartr365’s Homebuyer app, we are not only creating a much smoother digital journey for advisers and lenders, but importantly, removing some of the obstacles that have traditionally slowed down homebuyers getting the keys to their new property. I’m excited to see where this partnership can go.”

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