YBS chooses IRESS for online mortgage application platform

Michael Lloyd

October 2, 2018

Yorkshire Building Society Group has chosen financial technology business IRESS to deliver an online mortgage application platform.

The mortgage sales and originations software will be introduced across Yorkshire Building Society Group with a phased roll out starting with new lending via its intermediary arm, Accord Mortgages, in 2019.

Jeremy Duncombe, director of intermediary lending at Yorkshire Building Society Group, said: “The appointment of IRESS is the latest in a series of developments we continue to make to strengthen our role in the intermediary market.

“There’s no doubt brokers value the importance of a human touch throughout the mortgage application process – our core strategy of principle based underwriting and named underwriter contacts will remain key – however, it’s also important we have leading edge technology to complement our teams and the intermediaries we work with.

“We are pleased to have IRESS on board and truly believe this will help us to further enhance what we can offer to the ever evolving mortgage market.”

Paul Thornton, IRESS’ executive general manager (lending) said: “Everyone on the team is delighted to be working with the Yorkshire Building Society Group. Our technology will help the group make a step change in the intermediary and customer experience – streamlining mortgage processes, simplifying lending policy and empowering users across the end to end journey.

“The rapidly evolving mortgage market is all about delivering outstanding customer experiences consistently across all channels, and MSO will provide the group with a single, flexible solution for managing regulatory change and embracing digital mortgage journeys whilst improving overall efficiency.

“API capabilities will enable Yorkshire Building Society to embrace integration and seamless automation, with connectivity to third party companies involved in the mortgage application process, such as valuers and conveyancers.”

The new technology is part of the lender’s plans to improve its service to brokers and ultimately direct lending customers, creating a more efficient experience.

This is by generating quicker mortgage lending decisions and giving access to companies such as valuers and conveyancers to simplify the mortgage application process as much as possible.

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