Oracle Banking Enterprise Originations solution has become available in UK, and hopes to help banks and building societies transform residential, buy-to-let and SME mortgage origination.
The solution hopes to enable lenders to process mortgage applications more efficiently using progressive data decisioning and complete process automation.
Oracle’s platform uses open banking to aggregate data from third-party sources and financial institutions.
The solution deploys a lending lifecycle approach from origination, servicing and collections via a single platform.
Paul Leadbetter, group vice president and chief technologist at Oracle Financial Services, said: “It is an exciting time to introduce the Oracle Banking Enterprise Originations solution, localised and compliant for the UK banks and building societies.
“We believe UK remortgaging bank customers will welcome a solution that allows them to easily switch providers, and reap the benefits of a streamlined and seamless lending process.
“We are poised to accelerate and deliver our best-in-class solution in this highly competitive market.”