UK lenders were given an insight into Mortgage Brain’s vision and technology strategy for the next generation at three exclusive events held last week.
At the three ‘Strategy Forums’, forty six lenders were represented in total, where they were given the lowdown on Mortgage Brain’s ‘innovative plans to drive knowledge to the customer, make more accurate information available from the outset and enable better informed decisions to be made earlier in the advice process’.
Mortgage Brain also used the events as a platform to pre-announce two new initiatives; its unique ‘Multi-Dip’ concept and the launch of Lendex, ‘a next generation digital lender gateway’.
The ‘Multi-DIP’ concept, which aims to overhaul the mortgage advice and sales process, already has a number of Lenders who have committed to being Foundation Partners. The Partners will work closely with Mortgage Brain to deliver the ‘transformational’ initiative.
Lendex, meanwhile, is a brand-new online gateway, aiming to provide direct, simple to use and fast access to lenders. Lendex will look to secure Decisions in Principle (DIPs) direct from lenders in less than 30 seconds. It will provide a ‘modern process to digitally complete, submit (together with documents), administer and track full mortgage applications’.
Mortgage Brain will also use the new system to uniquely offer APIs to the wider market on behalf of participating lenders, aiming to provide a quick, secure and affordable alternative to lenders building their own APIs. Lendex will be open to all lenders regardless of size.
“We’re delighted with the tremendous vote of confidence and support from lenders who have attended our events last week,” Mark Lofthouse, chief executive of Mortgage Brain, said.
“We are looking forward to an exciting future, bringing these initiatives to fruition and delivering on our promises for the benefit of our customers and the whole industry, as we have done many times before.”