The Audit & Fraud Tool is designed to help lenders, surveyors and panel managers manage credit risk and financial crime challenges in a rigorous manner. It allows lenders to review particular cases, live, while they are being processed through their book. For instance, the Audit & Fraud Tool allows lenders to track property churn as well as link common contact details such as mobile phone numbers on applications.
Mark Blackwell, Sales Director of Xit2, said: “The Audit & Fraud Tool is very powerful and its trial has gone down a storm with lenders. As a result, we will be selling the product itself from the beginning of August. Launching it is yet another development of our business away from just our traditional focus on valuations. While valuation numbers continue to remain low and the mood sombre, we are developing new offerings for the new market. In the last six months, we have also launched the Arrears Management Portal for the debt management market , Early Pay, a way of Surveyors getting paid a lot quicker than they ever have before, and we are working on solutions for the pre and post possession market place - watch this space for more news imminently.”
