LendInvest launches SIRA integration to automate fraud detection within its buy-to-let platform
LendInvest, the UK’s leading platform for property finance, has launched its latest integration with SIRA, the national fraud prevention and detection database, speeding up retrieval of fraud insights for mortgage applications.
LendInvest has further enhanced its borrower platform by integrating with SIRA’s API to automate the fraud detection stage of the mortgage application process.
The traditional process for retrieving fraud insights requires manual input from a case manager to populate search forms within the SIRA portal, by individually inputting data from our buy-to-let broker platform.
This time intensive process is coupled with a time lag in receiving search results from SIRA.
This new integration allowed the team to migrate to a new Enterprise SIRA solution, and integrate the SIRA API with LendInvest’s BTL application service.
The integration has enabled the team to automate internal case manager workflow, and submit real time search applications, leading to time savings of over a day per application.
Arman Tahmassebi, chief operating officer at LendInvest, said: “The team is consistently working on new integrations to streamline our application and case management process to deliver the most efficient, and secure experience for both our borrowers and investors.
“The case managers can now run a SIRA search by the click of a button, and the integration has completely eliminated the manual steps required to do so. By receiving the results in real time, the time required to package a case has reduced, resulting in crucial time savings for a borrower when looking to move fast for their next project.”
Richard Wood, CEO at Synectics Solutions said, “I’m delighted that LendInvest has been able to transform their approach to fraud prevention through their improved use of our SIRA platform. LendInvest has been a SIRA client for over six years and it’s great to see them now taking advantage of our real-time data processing and case management tools to improve their operational efficiency, while also increasing their fraud analysis capabilities.
“We know that as we emerge from the Covid-19 health pandemic mortgage providers like LendInvest are having to adapt to a changing landscape to provide their customers with the fast access to the finance products that they need – without compromising on fraud and KYC assessments. This new integration between LendInvest and Synectics is a great example of how, by working closely with clients’, we ensure that they can meet these new challenges.”
