Credit Assess was launched by fin tech firm, Click2Check, in May and enables advisers, with the consumer’s consent, to gain the information they need from bank statements and credit reports within minutes.

It uses Open Banking technology to deliver bank statements in minutes, which enables the adviser to analyse the consumer’s affordability and risk for lending.

The fin tech firm announced today that a growing number of advisory practices have now signed up since the launch, including Just Remortgages in Fareham and Charwin Private Clients in Norwich.

Streamline

Click2Check developed the product, which provides a time-saving option that streamlines advisory firm’s business processes, following feedback from it pilot phase.

The six month trial also identified the need to offer an API function so advisory firms could feed the credit report and bank information into their third-party proprietary software such as point-of-sale and CRM systems. Click2Check said this provided advisers with a more holistic view of their clients’ financial picture.

Credit Assess is available to all advisory firms, distributors, CRM provider and networks, and is provided with a full training package.

Speed

Danny Planner, director of Just Remortgages, said: “Speed of access to a client’s credit file is of paramount importance in this fast-changing mortgage market.

“Credit Access not only provides a quick PDF or electronic version of a client’s credit file through Open Banking, it also allows full access to the client’s last three months’ bank statements. These two tools have proven to be key in our advice process.

“In essence accurate credit and financial information on our clients is vital and this simple-to-use tool provides everything we need.”

David Jones, director of Click2Check, said the new sign ups had already been utilising everything Credit Assess has to offer in terms of fully understanding a client’s financial situation and being able to use this as a pre-sales tool in order to ascertain the right product solutions for their clients.

He added: “From feedback we’re already receiving from firms using the service, we know this is greatly cutting down on their administration burden while ensuring they are working much more efficiently.

“We’d like to welcome both Just Remortgages and Charwin Private Clients to the Credit Assess ‘stable’ and to urge other firms to review what Credit Assess can do for their business.”