Principality Building Society has integrated with Iress’s Lender Connect, enhancing the mortgage process with API technology.
- The new partnership aims to streamline mortgage applications by automatically pre-filling forms with existing data.
- Intermediaries can now benefit from reduced data entry errors and quicker submission times.
- Principality successfully trialled this system with a leading broker, London & Country, before wider implementation.
- The initiative promises improved efficiency and assurance for clients and brokers alike.
Principality Building Society has taken a forward step by integrating with Iress’s Lender Connect software. This collaboration is set to enhance the speed and efficiency of mortgage processing through the use of cutting-edge API technology. By automatically pre-populating mortgage applications with data already available in advice and sourcing software, the platform significantly reduces the time taken to complete and submit applications.
Intermediaries engaged in mortgage processes stand to gain considerably from this technology. Reducing the duplication of effort not only minimises the likelihood of errors but also markedly speeds up the submission process. This integration ensures that intermediaries can navigate the mortgage maze with greater ease and precision, ultimately leading to improved client satisfaction.
The successful piloting of this system was conducted with London & Country, one of Principality’s larger broker firms. The smooth transition from design to implementation was aided by exceptional support from Iress, leading to a variety of applications swiftly reaching the origination portal. Principality is now poised to expand this pilot to encompass all brokers using Xplan Mortgage, demonstrating their commitment to embracing technological advancements.
Jacqui Durbin, Iress’s global head of product for sourcing, expressed excitement over Principality joining this innovative platform. She noted that this will facilitate access to a substantial distribution network across the UK, streamlining the mortgage application process and providing enhanced confidence to clients during their home buying journey.
Gwion Williams, Principality’s product owner, highlighted the ease of use and efficiency that Lender Connect offers. By pre-filling a significant portion of the necessary data, applications are submitted faster, reducing repetitive work for brokers. This technological solution reflects Principality’s dedication to providing their partners with reliability and increased productivity.
David Hollingworth, associate director of communications at L&C Mortgages, remarked on the swift benefits perceived from Lender Connect. In a rapidly evolving market, such tools are invaluable in boosting advisers’ and customers’ efficiency, mitigating the risks associated with re-entering data, and ensuring a smoother process for all stakeholders involved.
The integration of Lender Connect heralds a new era of efficiency and reliability in the mortgage industry, benefiting clients and brokers alike.
