Streamlining the mortgage application process for borrowers.
Challenger credit reference agency Credit Kudos has scored another customer in the form of mortgage platform Koodoo.
The tie-up means Koodoo, whose CEO Seb McDermott is speaking at the AltFi Festival of Finance next week as part of our Pitch Off competition, can offer open banking insights as part of its mortgage offering for borrowers.
“With the help of Credit Kudos’ technology, lenders and aggregators will be able to integrate Open Banking throughout the entire mortgage application journey, ultimately making it more seamless for both lenders and borrowers,” said McDermott on the news.
Koodoo sits between lenders and mortgage aggregators to improve the journey of borrowers, of which open banking will now play a part.
McDermott said the speed benefits of Credit Kudos’ technology will also come from making more of the mortgage application simpler and more digital, from ID checks to credit checks, meaning borrowers won’t have to manually upload documents.
Freddy Kelly, co-founder and CEO of Credit Kudos, adds: “Our partnership with Koodoo will help a growing number of lenders and aggregators better assess incoming mortgage applications and improve customer service,” said Freddy Kelly, the CEO and co-founder of Credit Kudos.
Credit Kudos has had a busy 2020, starting the year with a high-profile £5m Series A funding round joined by a number of well-known angel investors including LendInvest’s Christian Faes and ComplyAdvantage’s Charlie Delingpole.