Hinckley & Rugby Building Society has released a digital system mortgage application system.
The system, which was developed by Festina Finance, assists in processing the customer interview, generating a decision in principle, comparing products and terms and predicting timescales.
In addition, the system offers a ‘fact find’ for residential house purchase and remortgage applications, which is tailored to the firms lending criteria and affordability calculations.
The lender says that this will make things quicker and more precise. Furthermore, the building society plans to add a personalised self-service online platform later in 2019 for customers to use.
Hinckley & Rugby Building Society chief customer officer Dean Waddingham (pictured) comments: “The collaboration with Festina Finance illustrates Hinckley & Rugby’s forward-looking approach to working with fintech pioneers to enhance its offer.”
Festina Finance chief executive Mikael Braagaard adds: “As a fintech committed to creating innovative solutions within the field of digital financial advice, we are delighted to have been challenged by Hinckley & Rugby.
“Our solution enables societies to provide better advice and consumers to receive information in an easily understood form.”