Users of Smartr365 will now be able to access Experian’s open banking and credit referencing tools thanks to a new partnership between the two firms.

This new integration means that customer information is sent directly to their broker through Smartr365’s HomeBuyer app via the issuing of an Experian-branded bank statement, which details categorised customer income and expenditure data for the purpose of affordability checks.

Both firms envision a “fully frictionless mortgage process”, which they believe this partnership works towards.

The functionality is due to be available to all users “soon”, with the ability to open credit reports set for release in July.

Smartr365 chief executive Conor Murphy says: “Waiting around for bank statements and credit reports has long been an obstacle for brokers, but it won’t be any more thanks to our partnership with Experian.

“We’re very excited by this step, but the work doesn’t stop here, and we look forward to increasing our collaboration in the future and providing even more value for our users.”

And Experian director of data services Lisa Fretwell comments: “Homebuyer expectations are changing. No longer are they satisfied with the traditional mortgage processes we’ve become so used to over the years – instead they’re looking for a quicker, seamless, and more convenient digital experience.

“By implementing Experian’s open banking solution into the HomeBuyer app, we can remove some of the pain points of old and help deliver a much smoother and stress-free home buying journey.”