The automated Q-Guard suit alerts Aldermore to any concerns that require further investigation on receipt of the mortgage valuation, removing the need for the risk team to rely solely on an annual inspection of data.
Charles Haresnape, managing director of residential mortgages at Aldermore, said: “We are fully focused on responsible lending and so our business model is very straightforward as a result.
“We are not involved in any high-risk banking activities or the marketing of any exotic financial products, which have caused problems for so many financial institutions in the past.
“We have also put prudent risk measures in place to ensure we keep ahead of the curve when it comes to financial crime management.”
Steve Barry, chief risk officer at Aldermore, added: “Q-Guard is an important tool in our first line of defence against potential fraudsters. It integrates with our mortgage valuation system, ensuring that every instruction is automatically ‘Q-Guarded’ to check for anomalies.
“The fact that it can analyse data from multiple sources is ideal as it has the ability to identify potential multiple applications or those that have been declined elsewhere.”
