UK challenger bank, Gatehouse Bank has launched a Shariah-compliant home finance platform, enabling intermediaries to process home finance and buy-to-let applications from enquiry through to completion quicker.
It’s a bespoke case management platform based on ‘Apprivo2’ technology is developed by financial services software provider, BEP Systems and uses cloud-based mobile-ready technology.
The platform will be supported by a team of specialists based at Gatehouse Bank’s recently opened customer service centre in Milton Keynes.
Charles Haresnape, chief executive, Gatehouse Bank, said: “Our aim is to offer unrivalled service to brokers and their clients, whether that’s for buy-to-let or our soon-to-launch home owner finance product. We are delighted to partner with BEP Systems.”
The bank currently offers buy-to-let finance and plans to roll out Shariah-compliant home owner finance through selected brokers in the near future. Home finance products, or ‘home purchase plans’, are the Shariah-compliant alternative to mortgages.
Chris Little, managing director, BEP Systems, added: “Gatehouse Bank are set to become a major force within the huge growth sector that is Shariah-compliant home finance, and the way we have built the Apprivo2 platform around their specific needs will hopefully make the journey ahead seamless — and effortlessly scalable.”