Monmouthshire Building Society has announced a partnership with mortgage technology firm MQube in a move that aims to drastically reduce mortgage processing times and deliver faster decisions to both customers and intermediaries.
The mutual is implementing MQube’s AI-driven origination platform, Origo, which uses real-time data analysis to assess financial, credit and property information. The technology is designed to slash underwriting times from days to minutes, offering a more streamlined application process for brokers and borrowers alike.
The decision to deploy Origo marks a significant step in Monmouthshire’s ongoing digital transformation strategy. By integrating AI into its mortgage workflow, the society hopes to remain agile amid increasing competition and rising expectations for speed and certainty in the lending process.
The Origo platform, already in use by MPowered Mortgages, avoids repetitive document requests by sourcing information from verified databases and only prompting applicants for data that cannot be obtained elsewhere. This reduces administrative friction and helps to deliver consistent lending decisions with greater efficiency.
Monmouthshire is working closely with MQube to customise the platform for its operations, ensuring a seamless integration with its internal systems.
Will Carroll, chief executive officer at Monmouthshire Building Society, said: “At Monmouthshire Building Society, we’re committed to using technology to deliver better outcomes for our members. Borrowers today expect not just great service but also speed and certainty and we’re determined to deliver on all fronts.
“Our partnership with MQube gives us access to cutting-edge technology that will help us simplify the mortgage journey while reducing costs and risk. It’s a key step in our ongoing journey to be a modern mutual that truly puts members first.”
Stuart Cheetham, founder and chief executive of MQube, added: “We’re thrilled to welcome Monmouthshire Building Society to the Origo platform. As more lenders embrace AI and automation, it’s great to see a forward-thinking mutual leading the way.
“Origo is already powering faster mortgages at MPowered and we’re excited to help Monmouthshire bring those same benefits to their customers and brokers. We look forward to supporting them on their journey and continuing to help reshape the mortgage industry for the better.”
