DesKtop-based sourcing systems have reached the end of the road and should be “consigned to the dustbin of history”, says Network Data.
The network recently revealed its sourcing system mortgageLink is being considered by several firms for acquisition. But one source commented: “Who would want to buy it?”
Richard Griffiths, managing director of Network Data has hit back. He says the mortgageLink software is an attractive proposition for a new entrant because it is relatively inexpensive and provides rapid access to market.
But he warns the market is moving away from desktop applications.
He says: “Desktop systems have reached the end of the road. Next generation sourcing systems will be web-based. As the saying goes, build a better mousetrap and the world will beat a path to your door.”
He adds: “I see the incumbent desktop systems such as Trigold and Mortgage Brain being consigned to the dustbin of history in the next two or three years.”
But Mark Lofthouse, chief executive of Mortgage Brain, says: “For brokers to throw away everything they do now, it would have to be a big dustbin.
“The biggest demand will be for help with point-of-sale and compliance. We offer this either on a desktop or web-based system.”
Bill Safran, chief executive of Trigold, adds: “Technology is a means to an end, with the end being good service. How you arrive at that end is immaterial.”