Curvestone AI unveils Mortgage Passport in FCA trial

Curvestone AI has demonstrated a "Mortgage Passport" system at the Financial Conduct Authority's Smart Data Accelerator showcase, presenting it as a way for verified information to move through the mortgage chain without repeated collection and checks.

The demonstration used a single verified report that follows a customer from broker to network to lender. It relies on customer consent and a shared format for case evidence and outcomes.

Mortgage origination often involves multiple parties requesting the same information. Brokers, networks and lenders each collect data, validate it and record it in their own systems. This can extend processing times and increase operational costs, particularly when issues surface late in the process.

Quality assurance practices also vary across the sector. Many firms review a sample of case files rather than checking every case in full, largely for cost and staffing reasons. This can leave gaps where regulators and boards expect consistent oversight.

Verified report

The Mortgage Passport is a structured report that can be shared across the parties involved in a mortgage application. It aims to replace repeated "re-keying" of data and separate checks at each stage. The report travels with the applicant, linking evidence and outcomes to the underlying data sources.

Curvestone describes the system as configurable to each organisation's policies. A broker, network and lender can use the same underlying data and documents, apply their own requirements and thresholds, and generate their own decision outputs.

For the demonstration, Curvestone used a synthetic data environment provided by the regulator. The Smart Data Accelerator programme offers a test bed for Open Finance use cases and interoperability models without using live customer data, and allows participants to test governance, security and accountability expectations in a controlled setting.

Checks and outputs

The design combines data from several sources. Curvestone says the Mortgage Passport can pull verified information from Open Finance sources, credit reference agencies and supporting documents, then run checks against each party's policy requirements.

Curvestone says it produces three outputs: a pass, amber or fail outcome; evidence with provenance; and remediation actions to help progress the case.

Curvestone linked the concept to changes in mortgage compliance. Consumer Duty requirements have increased scrutiny of customer outcomes and governance processes, while regulators have also signalled expectations for the responsible use of AI in decision-making and monitoring.

The company also pointed to a shift from sampling towards fuller coverage of case file checks as supervisory expectations tighten. It positioned the Mortgage Passport as a way to apply consistent checks across the journey, rather than isolated reviews at each firm.

FCA programme

The Smart Data Accelerator showcase brought together regulators, lenders, startups and technology vendors. The programme has been used to test how Open Finance could operate in practice, including data sharing, consent flows and governance models.

The Mortgages and SME Finance TechSprints ran from November 2025 to February 2026. The regulator worked with NayaOne, BigSpark and Raidiam on the environment used during the sprints.

The FCA plans to publish an Open Finance roadmap and strategy by March 2026. Outcomes from the TechSprints are expected to inform that work, alongside industry feedback on data standards and operational requirements.

Company position

Curvestone is based in London and sells workflow automation software for document-heavy processes in regulated sectors, including financial services, legal and insurance. It says it works with Pivotal Group and White Rose Finance and processes tens of thousands of checks each quarter.

The company also referenced a $4 million seed round led by MTech Capital, and linked the FCA demonstration to expansion into Open Finance use cases as infrastructure and data-sharing frameworks develop.

Curvestone cited earlier deployments as evidence of time savings and broader case coverage. It said Walker Morris reduced service agreement reviews from four hours to 15 minutes, and that mortgage firms using its tools have reached 100% case file coverage compared with a broader industry approach based on sampling.

At the showcase, Curvestone built the Mortgage Passport during the sprint period and said it completed the work in under a week, using the synthetic environment and working with mortgage-market stakeholders.

Curvestone's chief executive linked the Mortgage Passport to reducing delays caused by late-stage issues in packaged cases.

"We built this to demonstrate what becomes possible when Open Finance data becomes available," said Dawid Kotur, CEO of Curvestone AI. "Today, even fully packaged cases lose time on back-and-forth because issues get caught too late. The Mortgage Passport catches problems early, flags vulnerable cases, and returns specific next steps so the case moves forward. We built this working directly alongside FCA regulators and lenders. That's how Open Finance use cases should move from concept to reality to provide better customer outcomes."

Curvestone plans further engagement with lenders and other market participants as the FCA moves towards publishing its Open Finance roadmap and strategy by March 2026.