The new application will help Lenders to streamline and enhance their audit and survey processes, considerably reducing the time it takes to conduct on-site audits. It will also help Lenders to consistently assess new prospects and encourage a risk based approach to their due diligence processes.
EQ Due Diligence will enable Lenders to adopt a risk based approach when selecting clients for audit and help focus attention on higher risk transactions. This will maximise the effectiveness of time spent on-site and free up the Audit team to carry out more desk top audits leading to operational efficiencies and improved customer experience.
The EQ Due Diligence application allows Lenders to utilise data from the core operating system or extracted data directly from accounting systems, providing detailed historic transactional data to Lenders which improves decision-making. Output from EQ Due Diligence is captured in the core application so all audit history is retained in one place. This improves compliance and provides a more holistic view of client trends.
Aaron Hughes, Managing Director at Equiniti Riskfactor comments:
“Our exciting new launch, EQ Due Diligence, will transform how Lenders carry out the often difficult process of due diligence and make life easier for Lenders, Clients and Prospects. EQ Due Diligence is our latest software release and expands the already comprehensive risk management software we provide. We have more modules scheduled for release in 2017 including the EQ Decision Engine launching later this year. I am excited about our new launches, we continue to support the industry with unique software that improves the customer experience and meets the needs of Lenders.”