Developed to ensure that building societies and mortgage lenders will be well prepared for the introduction of mortgage regulation, e-KFI enables lenders to complete complex KFI and base offer documents quickly, efficiently and in a compliant manner.
e-KFI, based on an XML message interface, will eliminate basic errors in KFI completion that are caused by incorrect keying of data because data will be entered and validated once and then replicated exactly throughout the process. It will also enable lenders to manipulate data within the KFI and base offer document templates which are provided in PDF format.
e-KFI is one of many components in the Omiga solution, each of which can be purchased separately or as part of an integrated system. The other point-of-sale components enable decisions in principal, electronic applications and case tracking and can integrate seamlessly with the application processing components that handle credit checking, payments and underwriting and then manage applications through to completion.
Omiga can be used across all distribution channels – broker and intermediary, branch, call centre and internet – to provide consistent and efficient straight through processing from each channel through to the lender’s processing centre.
Phil Heaton-Jones, head of mortgage product management and consulting, comments:
“This new e-KFI tool meets the growing demand from lenders for an electronic, regulation-proof KFI solution. It can enable consistent and accurate KFIs via any distribution channel and integrates seamlessly with the other components of our Omiga solution to provide a Straight Through Processing platform.
“With its compliant point-of-sale processes and the ability to accept new business electronically from multiple distribution channels, Omiga is a long term strategic solution that will give lenders real competitive advantage pre and post regulation.”
