The founder and director of financial services technology provider iState Systems has launched a specialist financial services consultancy.

Barry Yager has set up BEP Financial Systems to assist banks, building societies and investment companies to transform their mortgage and savings processes.

He says this will save them money, become more efficient and provide better customer service both to customers and to intermediaries.

Even if a lender is not undergoing a full-scale change, BEP helps them to re-evaluate their processes and refine them to become more efficient and cost effective, Yager claims.

BEP has already worked with a large Spanish Bank on its German mortgage operation as well as two other UK based lenders, but is now rolling out its proposition to the wider market.

Keith Longmuir, managing director of BEP Financial Systems, said: “The pace of technological change is increasing all the time. Banks and building societies know that they need to embrace new technology to stay competitive but it can be hard to identify exactly what technology you need or to know how to implement it effectively when you are running such a large organisation.

“BEP Financial Systems helps banks and building societies to do that and do it successfully. We help to identify their needs, define the business requirements, identify the best solutions and assist or project manage the implementation in a controlled way that ensures it is successful and any change happens within the time scale allowed and within a defined budget. There are too many horror stories of new banking systems being put in place that go horribly over budget, take years longer than planned or which don’t achieve what the bank originally wanted them to. We make sure that doesn’t happen and that any new system is put in successfully, to time and to budget.

“We have already carried out a number of highly successful projects over the last year so now is time to roll out BEP to the rest of the market.”