Tenet is launching an online anti-money laundering service to combat fraud, virtually eliminate paperwork and enable advisers to process transactions much more efficiently.
The Tenet-branded system will be delivered through the Equifax intermediary portal, MyTouchstone and is now being rolled out to the group's advisers after completion of a successful pilot programme.
It is the first partnership of its kind between Equifax and an intermediary platform, offering advisers a robust, easy to use facility with no set-up costs, no minimum spend and a specially-discounted rate of just £1 per search.
"It will expedite the authorisation process and provide a formidable barrier against fraud," said Tenet distribution & development director, Helen Turner.
"The customer experience will be significantly-improved thanks to removal of the traditional paperwork delays," she added, "although some providers and lenders may still insist on their own secondary checks."
Peter Welch, intermediary director, Equifax Touchstone Financial Analytics, commented: "We are delighted to be partnering with Tenet on this innovative solution. The pilot illustrated the need for streamlined client set-up processes in response to the changing environment, post-RDR.
"Advisers will also be able to access the reports and insights from the MyTouchstone database in order to benchmark their businesses in their local market."