Sesame Bankhall Group (SBG) and Mortgage Brain have joined forces to help advisers run identity verification checks on their clients.
The Manchester-headquartered financial advice provider will integrate with Mortgage Brain’s customer relationship management system to source the relevant information.
The two will then deploy fraud prevention firm GBG’s technology to complete the electronic checks themselves.
SBG’s 11,000 advisers already benefit from a long-standing partnership with Mortgage Brain. In September, they came together to help advisers adopt the Financial Conduct Authority’s ‘cheapest’ rule, which says advisers who do not recommend the cheapest suitable mortgage must explain why to their client.
The network’s latest integration, called ‘Key’, auto-populates customer information. It also does not require advisers to manually save or add documents further down the line.
“We have seen an increase in demand for our remote identity verification solutions in the mortgage, conveyancing, and legal market as they undergo digital transformation accelerated by Covid-19,” said Andy Chrascina, GBG’s commercial director for EMEA.
Released to the first advisers in May, the integration has already completed 18,000 checks or 70 per cent of all identity checks completed within Sesame’s adviser network.
“We’re continually looking at how we can enhance our network’s technology capability,” said Richard Howells, Sesame’s chief operating officer.
The financial adviser network underwent some significant changes at the top this year.
In May, former managing director at Skipton Building Society, Alex Beavis, became the firm’s mortgage and later life lending propositions director to support its expansion of adviser services.
Beavis’ appointment followed a management reshuffle at SGB in January, which saw Howells move from managing director to chief operating officer.