Monmouthshire Building Society has begun the soft launch of its loans origination platform with a selected group of intermediary partners as lenders continue investing heavily in mortgage processing technology.
The mutual has partnered with fintech firm MQube to develop the new Origo platform, which is designed to manage the entire mortgage process from application submission through to completion and release of funds.
L&C Mortgages, Elite Independent Mortgages and MPI are currently trialling the system ahead of a wider market rollout planned later this year.
Monmouthshire said the platform replaces manual administration, spreadsheets and email-based workflows with a fully integrated system designed to improve efficiency for brokers, IFAs, customers and underwriters.
AUTOMATED UNDERWRITING
Early trials of the platform have already shown significant improvements in processing times, with some mortgage offers reportedly issued in under 24 hours from submission.
The launch reflects growing investment across the mortgage market in automated underwriting, real-time decisioning and digital processing tools aimed at reducing turnaround times and improving broker experiences.
REAL INSIGHT
Bethan Jenkins (main picture, left), mortgage transformation lead at Monmouthshire Building Society, said: “It has been great to get some real insight into what our intermediary partners are looking for from a loans origination system.
“We have worked closely with L&C, Elite and MPI who have agreed to trial the system for us to ensure that our system is working as it should and functioning as our intermediary partners need it to, before opening it up to the rest of the market.”
She added: “So far, the feedback has been amazing and so we’re really excited to carry on developing the system to make sure it’s one of the best on the market when we open it up in the coming months.”
IMPROVED TURNAROUND TIMES
Giuliano Grazioli, Director of Lender Relationships at L&C Mortgages, said the system had “efficiency at its core” and would help improve turnaround times for brokers.
Stuart Cheetham, CEO at MQube, said: “Partnering with Monmouthshire Building Society to deliver this platform has been a fantastic example of what can be achieved when lenders and technology providers come together. By removing manual processes and introducing real-time decisioning, we are helping to create a faster, simpler and more transparent mortgage journey for brokers and their clients.”
Main picture: (Left to right) Bethan Jenkins, mortgage transformation lead at Monmouthshire Building Society; Mike Saunders, business development manager at Monmouthshire Building Society and Giuliano Grazioli, director of lender relationships at L&C Mortgages.
