Financial planning network Rosemount Financial Solutions has launched a proprietary Know Your Customer (KYC) tool for member advisers.
The tool has gone live following extensive testing with a panel of Rosemount’s advisers.
Called check2 it is described as being built with adviser needs in mind, and utilises insights from Veriff and Experian for advisers to carry out identify checks.
Advisers have reported seeing new forms of fraud, enabled by modern technology, including the likes of synthetic identity fraud, where real and fake data are combined to create a new, apparently legitimate profile.
It has been built to guard against this and other emerging forms of fraud, and is designed to be updated quickly in response to new threats as and when they become apparent.
The tool has been optimised to work on mobile phones as well as computers and laptops.
Its launch follows Rosemount’s introduction last year of a cashflow modeller tool, providing advisers with the ability to deliver personalised reports for clients, outlining their potential financial futures and the impact of any decisions they make on their eventual financial health.
The network also launched an ‘attitude to risk’ profiler for advisers, allowing them to get a better sense of the position of their client.
A Rosemount spokesperson says: “Know Your Customer checks are a crucial aspect of financial advice, and something the best advisers take very seriously. check2 has been designed to make that process as smooth and convenient as possible, having been developed with the input of our advisers.”
Rosemount is one of the largest Independent Mortgage and Financial Planning networks in the UK. It was founded in 2006.
