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IT
Equifax UK Verification Exchange Solution Now Available to NatWest Customers to Help Transform Mortgage Verification Process
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Financial IT
Equifax UK Verification Exchange Solution Now Available to NatWest Customers to Help Transform Mortgage Verification ProcessEquifax UK announced today that NatWest will be the first UK high street bank to offer the Equifax UK Verification Exchange solution to help combat mortgage application fraud.
This service improves the mortgage application process and champions financial inclusion through instant income and employment verification.
As part of the Equifax UK suite of affordability services, Verification Exchange streamlines verification by providing a verified, digital view of a customer's income and employment.
The relationship will enable NatWest customers to make faster and more informed responsible lending decisions, in line with their focus on delivering positive outcomes for borrowers under the Financial Conduct Authority's Consumer Duty regulations.
For consumers, the new process significantly reduces the stress and time involved in applying for a mortgage.