Coventry selects IRESS mortgage sales originations for its core banking platform transformation
Coventry Building Society has selected financial technology business IRESS’s mortgage sales and originations (MSO) product as an integral part of its core banking transformation.
The solution will support all of its distribution channels and mortgage products with seamless integration to the new core banking platform from Temenos.
MSO will be adopted in a phased rollout with the intermediary sales channel and originations being the first to be deployed.
Paul Thornton, IRESS’s executive general manager (lending) said: “IRESS is delighted to welcome Coventry Building Society to its rapidly expanding client base.
“MSO is now being used by lenders of all sizes utilising its omni-channel capabilities and advanced integration capabilities for straight through processing.
“Today’s mortgage market is all about the provision of superior customer experiences and MSO will provide the Society with an agile solution for managing regulatory change, embracing digital mortgage journeys whilst improving overall efficiency.”
Peter Frost, chief operating officer at Coventry Building Society, said: “The mortgage market is extremely competitive and this announcement shows we are committed to investing in our future for the benefit of new and existing members.
“It was vital to find technology partners who share our vision and ambitions and can deliver solutions that meet the expectations of today’s borrowers, brokers and colleagues alike, but that will also evolve as we grow and the market develops.
“We are delighted to be working with IRESS and are confident that MSO will give us the technical capability to match our service aspirations.”
Open APIs will enable Coventry Building Society to embrace integration and optimise seamless automation throughout the mortgage sales process.
This will deliver improved consistency and efficiency to the application process.
MSO’s advanced configuration capabilities will also enable the society to manage the solution in line with changing business needs and bring new products to market quickly, adapting to customer needs as the mortgage market evolves over time.