Nationwide partners with Twenty7Tec
Nationwide has announced an API technology partnership with Twenty7Tec.
The partnership will enable mortgage brokers to access a decision in principle faster, according to the building society.
The lender adds that users will receive an instant decision in principle on remortgage cases without needing to re-key data into its portal.
Initially, the service will be available to Connells Group brokers, before being rolled out to Mortgage Advice Bureau, and then the wider market.
Furthermore, the building society said that the connectivity between its API Twenty7Tec’s APPLY platform is the first service fully live to brokers.
Ian Andrew, director of intermediary relationships at Nationwide Building Society, said: “This is a big moment for Nationwide and we’re delighted that the outcome of recent tests in our API sandbox with Twenty7Tec have been so positive and that we’re now in a position to put our DIP API for remortgages live.
“We expect to expand the API with other third-parties in the near future and we continue to look at other ways we can use technology to improve the service we offer brokers both now and in the future.”
James Tucker, chief executive at Twenty7Tec, added: “This is a great innovation for both Nationwide and the intermediary market. Twenty7Tec’s mission is to make the process of searching, applying for and obtaining a mortgage simpler, faster and more efficient. This integration with Nationwide does just that.
“We’re very proud to be the first broker platform to have been chosen to work with Nationwide on this project, and we look forward to seeing the results that it produces.”
Adrian Scott, director at Connells Group Mortgage Services, said: “The launch of new DIP API means our mortgage consultants will immediately see tangible benefits from the auto-population, and thereby providing further evidence that both Nationwide and Twenty7Tec are working hard to support intermediaries.”