Iress and more2life have extended their integration, with advisers now able to generate real-time equity release quotes and KFIs seamlessly from Iress’ The Exchange without the need for re-keying. This makes more2life the first lender in the later life lending market to have this facility which provides enhanced support for advisers.
This new capability builds on the initial integration between Iress and more2life in July 2020 and has been developed using DPR’s Distribution Hub, the origination and servicing technology that underpins more2life’s fastpath portal. Advisers will now be able to create a KFI on fastpath which has been prepopulated with the data that was entered on Iress as part of the initial search, saving time for advisers and providing a more streamlined user experience.
According to the Equity Release Council’s Spring Report, the UK equity release market is currently worth £4.6bn annually, which has been steadily rising year on year for a number of years, with market predictions forecasting that the rise in the market is set to continue. Building this capability into The Exchange also allows advisers to tap into that potential for growth.
Iress’ executive general manager – commercial, Dave Miller, said: “With consumers increasingly investigating equity release as a way of boosting their retirement funds the need for advisers to be able to access accurate, real-time data is more important than ever. Iress is committed to expanding and enhancing its equity release offering, and this latest integration with more2life is compelling evidence of this.”
Dave Harris, CEO at more2life, commented: “This launch is the next step in our collaboration with Iress as part of our commitment to providing market leading support for our advisers. Following on from the launch of quotes and KFI retrieval in 2020, this move will see advisers move seamlessly from their sourcing session on Iress to an application via more2life’s fastpath system. Avoiding the need to key and rekey information is a great step forward for advisers and we are delighted to be the first lender to offer this flexibility via the Iress platform.”
Andy Cumming, DPR Director responsible for Equity Release customers said: ““We are seeing a lot of activity among our Equity Release customer base which is a reflection of how quickly this market is evolving. Our commitment to this sector means our road map is moving just as fast and the Distribution Hub, which supports seamless integration between advisers and lenders, is a major element of the change we are helping to drive. We are excited to work with our distribution and lender partners to drive further innovation.”