Money Partners has launched a new electronic identification facility for brokers and packagers.
e-ID is an enhanced credit search engine platform based on Equifax technology available through the specialist lender’s intermediary website, MoneyPort, and is designed to reduce the need for paper-based client identification evidence required under FSA's "know your customer" rules. Money Partners carried out a full-length test of the facility during August in which 6,000 e-ID searches were made. It says the success rate was over 70% with virtually instantaneous ID verification being achieved in each case. Where unsuccessful, the system prompts the submitting intermediary to obtain ph...
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