Smartr365 transforms affordability and credit checking process with Experian partnership


Thanks to our new partnership with Experian, you now have direct access to Experian’s open banking and credit reference data for clients, from within Smartr365. More Experian services will be integrated with Smartr365 in the future, but if you can’t wait to find out what’s coming, click here to read on.

Smartr365 has today announced the launch of our new commercial and strategic partnership with the world’s leading global information services company, Experian.

As a Smartr365 user you can now access Experian’s open banking and credit reference data on behalf of clients thanks to the new integration, with searches on an ‘all you can eat’ basis. With the Smartr365 HomeBuyer app bringing information to their fingertips, your customers can progress their applications on the go and round the clock without the need for multiple logins or data entries.

The HomeBuyer app provides instant connectivity by sending customers’ information directly to you so you can begin the affordability and credit checks without having to leave the Smartr365 platform.

Taken together, these two innovations transform the affordability and credit checking process, saving consumers time and alleviating much of the stress that comes from the mortgage application process. For you, our users, the tools greatly reduce the time spent on case management, freeing capacity for further growth.

This new partnership will streamline yet another step in the mortgage journey for brokers and borrowers, reducing both the time taken sourcing financial information and the disruption caused by switching between programs to carry out affordability and credit checks.

This includes the provision of Experian’s Open Banking Bank Statement, a secure, standardised statement of categorised income and expenditure data that can be used by brokers and lenders to understand a customer’s affordability.  With more services set to be integrated with the platform in due course, together Smartr365 and Experian will work towards a fully frictionless mortgage process.

Open banking services through Smartr365 will be available to all users soon, with access to credit reports scheduled for release in July, and a number of lenders are already accepting Experian-branded bank statements.

Conor Murphy, CEO at Smartr365, said:

“Everything we do at Smartr365 is geared towards the creation of a completely frictionless mortgage process. Waiting around for bank statements and credit reports has long been an obstacle for brokers, but it won’t be any more thanks to our partnership with Experian. We’re very excited by this step, but the work doesn’t stop here, and we look forward to increasing our collaboration in the future and providing even more value for our users.”

Lisa Fretwell, Director of Data Services at Experian, added:

“Homebuyer expectations are changing. No longer are they satisfied with the traditional mortgage processes we’ve become so used to over the years – instead they’re looking for a quicker, seamless, and more convenient digital experience. By implementing Experian’s Open Banking solution into the HomeBuyer app, we can remove some of the pain points of old and help deliver a much smoother and stress-free home buying journey. We’re delighted to be working alongside Smart365 to do this.”