[Alternative 1]

Electrum, a leading supplier of software and services to the financial services sector, today announced a KeyFacts solution enabling mortgage providers to produce M-day compliant key facts documents.

 

The documents produced by KeyFacts are compliant with new FSA regulations regarding mortgage quotations in the UK . KeyFacts is easily customised enabling mortgage providers to produce branded key facts documents for their own products, in their own house-style and from their own web site. KeyFacts can be easily integrated with existing back-end systems

 

From 31 October, it is mandatory for mortgage providers to produce a key facts document for every mortgage quotation.

 

In addition to producing key facts documents, KeyFacts also emails documents and produces hard-copy to comply with the FSA's "durable medium" requirement. It also keeps a complete record of all mortgage quotations for audit and back-office purposes.

 

Stuart Harper, Managing Director at Electrum, said: "KeyFacts is a unique solution that dramatically reduces the time it takes to implement and produce key facts documents. It will enable mortgage providers to supply client specific key facts documents for every mortgage enquiry, from their own web-sites or through their call centres , at minimal cost."

[Alternative 2]

Electrum, a leading supplier of software and services to the financial services sector, called on the mortgage industry to get its house in order over M-day compliant key facts documents. "Solutions to meet FSA disclosure regulations have been available from companies like Electrum for many years", said Stuart Harper, Managing Director at Electrum. "Many companies have been forced into withdrawing mortgage products from the market at short notice"

 

Electrum produces a KeyFacts solution compliant with new FSA regulations regarding mortgage quotations in the UK . KeyFacts is easily customised enabling mortgage providers to produce branded key facts documents for their own products, in their own house-style and from their own web site. KeyFacts can be easily integrated with existing back-end systems

 

From 31 October, it is mandatory for mortgage providers to produce a key facts document for every mortgage quotation.

 

In addition to producing key facts documents, KeyFacts also emails documents and produces hard-copy to comply with the FSA's "durable medium" requirement. It also keeps a complete record of all mortgage quotations for audit and back-office purposes.

 

"KeyFacts is a unique solution that dramatically reduces the time it takes to implement and produce key facts documents. It will enable mortgage providers to supply client specific key facts documents for every mortgage enquiry, from their own web-sites or through their call centres , at minimal cost." Said Harper.