Omnii Solutions has today launched a toolkit to assist mortgage intermediaries in complying with FSA rules on treating customers fairly (TCF).
The new system, called Checkit, will allow intermediaries to verify client and property information at the beginning of the advisory process.
According to Omnii, the system aggregates data from providers to allow brokers to perform client due diligence, risk assessment, valuation checks and reinstatement value checks.
Tools in Checkit allow a broker to review and analyse the data in any way that suits them. In addition, a compliance officer can control the output of the data, influencing advice and recommendations to ensure regulatory compliance.
Omnii says the system will help improve TCF through enhanced fact-finding and comprehensive client due diligence. It will also facilitate monitoring and reporting to ensure advisers are adhering to TCF principles.
Nick Berry, managing director of Omnii Solutions, says: “Omnii Solutions and Checkit were created out of our belief that advisers would benefit from having access to a range of important client and property information before embarking on what can be an extensive and costly advisory process. Tools within the system can deliver results and conclusions almost instantaneously ensuring that a treating customers fairly approach has been followed and demonstrated.”
Checkit is a web based solution that can be used as a standalone product, but can also be integrated with existing point of sale and back office systems.
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Joined as head of strategy, multi asset, in June
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