Bridging and development lender Roma Finance has completed the pilot phase of offering an Open Banking solution to its customers.
Roma’s Open Banking solution is said to help customers by removing the hassle and delays often associated with the collection of paper statements, helping to ensure prompt, responsible lending decisions are made.
Scott Marshall (pictured), managing director of Roma Finance, said: “We are continuing our strategy of investing in technology to ensure Roma Finance is the most technologically advanced lender in our sector.
“It’s our intention to constantly improve the way bridging loans are completed for the benefit of our introducers and their customers.
“We’re already completing many cases inside fifteen days and implementing technological solutions such as Open Banking will help everyone involved and lead to a smarter way to make good and timely lending decisions.”
In October 2017, Roma introduced a Fast Track lending process which resulted in its ability to complete most cases within 15 days. This initiative is seen as another step in their transformation of the customer journey through advanced technology.
The lender said there are more technological solutions coming in the pipeline.
Open Banking is a UK government backed scheme within retail financial services, which allows authorised third parties to securely share banking transaction information.