Intermediaries can use the application at the start of the advisory process to prequalify key client information.
SMS claims the CHECKIT application offers vital client ID and anti money laundering as well as removing the need for paper evidence and provides a full credit check for risk assessment leaving no hard footprint on the file, automated property valuation, a full client report summary and a total MI and audit trail.
Ian Balfour, chief executive officer at SMS, said: “With the addition of CHECKIT, brokers can confidently submit cases knowing that the basic checks have all been done to ensure that an application is worth pursuing.
“This type of service also provides lenders with the confidence to deal with intermediaries in the light of compliance demands both now and in the future and see companies like SMS as ideal partners to further their ambitions to generate business from the intermediary market.”
John Mawdsley, chief executive officer at Omnii Solutions, added: “CHECKIT saves brokers from wasting valuable time on applications that have no merit and demonstrates to lenders that modern technology provides all brokers with the kind of sophisticated tools to ensure quality and compliance.
“SMS has always been a leader in adopting new technology to improve the lot of intermediaries. SMS can really consider themselves to be the natural hub for lenders and brokers. Both sides have much to gain from working through SMS’s dynamic facility, which provides all the tools for compliant and profitable business.”
