Swansea Building Society has introduced an online mortgage application portal for its 830 intermediary partners, replacing a submission process that previously relied on direct contact with the lender’s mortgage team.
The new Broker Portal went live on 5 October following an 18-month development programme undertaken by the society in partnership with SBS Software, formerly Sopra Banking Software.
Registered mortgage advisers can now submit new applications and manage existing cases online, while broker administrators have access to facilities for uploading documents and managing applications on advisers’ behalf.
The development marks the society’s first move into online mortgage application submissions, although it will retain its existing approach to underwriting, with applications assessed individually rather than through automated credit scoring.
Brokers will also have access to support videos, frequently asked questions and a dedicated portal support team. The society’s relationship managers and their assistants will remain available to provide help with applications.
DIGITAL DEVELOPMENT
Alun Williams, chief executive of Swansea Building Society, said the introduction of the portal was intended to improve efficiency without changing the lender’s approach to intermediary relationships.
He said: “We know that brokers value both efficiency and accessibility, but they also value being able to speak to people who understand their cases. The portal gives us an opportunity to improve the digital side of the service without losing the personal approach that is such an important part of Swansea Building Society.
“This is an important step in the continued development of our digital services, and we look forward to building on it as we respond to the needs of our brokers and their customers.”
The project involved the society’s IT and wider business teams, working with SBS Software to develop a platform suited to its existing mortgage processes.
Nick Longar, head of IT at Swansea Building Society, said: “Developing the Broker Portal with our long-standing trusted partner, SBS Software has given us the opportunity to build something around the way Swansea Building Society and our intermediary partners actually work.
“This has been an 18-month project and involved a significant amount of work across our IT and wider business teams. We have focused on creating a straightforward and secure online service that makes it easier for brokers to submit and manage their cases, with guidance and support available whenever they need it.
“The launch is an important milestone, but it is also the beginning of the next stage of our digital journey. We will continue to listen to our brokers and look at how we can develop the portal and our wider digital services further.”
Richard Broadbent, head of sales – UK&I at SBS, said the project had involved close collaboration between the software provider and the building society’s internal teams.
He added: “Working closely with the Society’s IT and business teams throughout the process has enabled us to deliver a portal that reflects the needs of its brokers and the way they work.”
