Leeds Building Society and L&C Mortgages have introduced a new automated process that enables mortgage applications to be completed more swiftly by leveraging open banking technology.
The pilot scheme, which has now been adopted as a routine part of applications between the two organisations, replaces the need for traditional bank statements with real-time access to applicants’ financial records.
The system connects through Experian’s open banking platform, allowing clients of L&C to share verified information about their income and regular outgoings directly and securely.
The approach significantly reduces the documentation burden on borrowers and enhances the speed and efficiency of the application process.
James O’Reilly, head of intermediary partnerships at Leeds Building Society, said the pilot had succeeded in simplifying mortgage applications for all parties involved.
“This pilot scheme has allowed us to reduce steps in the mortgage application and make life easier for brokers and their clients,” he said.
“Through our partnerships with L&C Mortgages and Experian, we have been able to demonstrate how new technology and close collaboration can deliver outcomes that will make meaningful differences to the mortgage journey.”
The Society now intends to expand the use of this process across more of its intermediary network, suggesting a broader adoption of open banking within its operations is on the horizon.
David Hollingworth, associate director at L&C Mortgages, said the results of the pilot had been encouraging, with strong customer engagement and a clear benefit to advisers.
“The close collaboration between Leeds Building Society and our team has clearly demonstrated that the use of open banking can be integrated seamlessly into the standard process,” he said.
“The simple and straightforward approach reduces the amount of documentation required and ultimately speeds things up for both us and the customer.”
The pilot reflects a growing trend in the mortgage sector toward digital integration and process automation, especially as consumer expectations around convenience and speed continue to evolve.
Lucas Lopes, chief product officer, consumer information services & verifications at Experian UK&I, said open banking is playing a central role in modernising mortgage applications.
“As consumer demand for seamless digital experiences continues to rise, open banking is transforming mortgage applications — replacing manual, time-consuming processes with real-time data insights that deliver more tailored, transparent, and inclusive financial solutions,” he said.
He added that the pilot highlighted the value of collaboration between lenders, brokers and technology providers, and said Experian would seek to build on the results to further enhance the customer experience.
