Hometrack partners Moneyhub for Open Banking

UK-based Hometrack has partnered with Moneyhub to deliver income and expenditure verification for lenders, brokers, and consumers.

The integration of Moneyhub’s Open Banking technology into Hometrack’s Credit Risk Hub, on top of its automated income verification capabilities, will facilitate streamlined mortgage journeys for customers, as the press release says.

This partnership means that document capture capabilities are being brought together with Open Banking into one lender and broker-focused solution for the purpose of income and expenditure verification for mortgages.

Brokers will be able to apply for mortgages on behalf of customers faster and more easily; lenders won’t have to request information as it will have been collected already. Lender and broker-specific business rules will also ensure that both parties benefit from a tailored view of income and expenditure information for each mortgage application.