The API-ready platform has been developed to allow all later life lending providers to plug into, and more 2 life has become the first lender to be integrated into the system.
AiR Sourcing, the sourcing system for equity release and retirement lending products today has fully integrated lifetime mortgage provider, more 2 life, into its independent Application Programming Interface-ready (API) platform.
The API-ready platform has been developed to allow all later life lending providers to plug into, and more 2 life has become the first lender to be integrated into the system.
Stuart Wilson, chief executive officer, Answers In Retirement Group, said: “API will change the ability of firms to deliver advice right across financial services.
“We have been working closely with more 2 life and its technology development team over the past few months, and we are very pleased to announce it is the first to integrate into our truly-independent API-ready platform.
“This will mean advisers have the ability to directly generate KFIs and full applications via AiR Sourcing. Members can now enter client details once and obtain their KFI rapidly and then move the required information seamlessly into other systems and an application to submit in seconds.
“We have been impressed with the determination and commitment from the more 2 life team to deliver this for brokers as we continue our ambition of building market-leading technology for those advisers dealing with older consumers.
“We are also working closely with other providers in the later life lending sector to add them into this exciting and cutting-edge technological development and hope to announce further exciting news throughout this year.”
Dave Harris, chief executive at more 2 life, added: “Advisers spend hundreds of hours each year on administration – often being forced to type and retype the same information into various portals.
“We are delighted to be in a position to integrate our systems into AIR’s API-ready platform as this is a step forward that will allow more advisers to get the answers they need more quickly.
“At more 2 life we are committed to supporting brokers and will continue to look for innovative ways in which we can help them focus their energy on servicing their customers and growing their businesses rather than form filling.”
AiR Sourcing said the development of the API platform will mean advisers’ inputted data will move seamlessly from one programme to another without the need for multiple re-keying.
It believes this will drastically reduce the processing time for each stage of a case meaning advisers will only need to enter data once and, via the API, this will then be transferred immediately and seamlessly into a factfind, sourcing system, CRM system, application form, or wherever it is required.
AiR Sourcing confirmed all later life lenders will be able to integrate into the platform and it will not be restricted to any particular distributor. The system will allow advisory firms to trade electronically, plus AiR Sourcing is currently building a ‘white label’ version of the system that firms will be able to utilise.
It said the ‘white label’ version will mean firms do not need to invest large amounts of money into building their own platform and will also ensure all later life lending providers, who wish to develop this functionality, have one place to work via in order to ensure industry-wide distribution.
