Experian has acquired N4 Solutions, a provider of specialist software for the mortgage and financial planning sectors, which will become part of Experian's consumer business it was announced today.
N4 Solutions provides software that enables lenders and financial services providers to undertake compliant effective sales engagements across mortgages, general insurance and financial planning.
A key part of the N4 mortgage software is making offers at the point of sale using Experian credit services and products to deliver immediate decisions.
Tiku Patel, director of Experian UK & Ireland, says: “Together with its [N4’s] skills base and deep mortgage sector knowledge, it is a great strategic fit with Experian, with clear synergies with our client base and core credit decisioning solutions to create a full origination solution covering risk management and cross-selling in a regulatory compliant environment.”
Experian will create a new mortgage division by merging N4 with its existing mortgage group, which N4 CEO Steven Jones will lead. Experian will also use N4’s platform to further develop the firm's insurance and wealth management capabilities.
Commenting on the acquisition, Jones says: “Together, we can deliver a unique and innovative proposition to meet the growing demand for sophisticated, integrated systems driven by legal compliance, the desire for flexibility and speed of process, changing consumer behaviour and opportunities to reduce costs.”
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