A new combined solution for mortgages and loans from Iress and Temenos allows lenders to offer a fast, flexible service to customers without the disruption of a major platform replacement, write Paul Cole and Des Noctor.

To help lenders meet the challenges of today's market, Iress and Temenos have joined forces to provide a new solution combining Iress' Mortgage Sales and Originations (MSO) with Temenos' powerful digital back office. Streamlining the entire mortgage journey from end to end, the combined benefits of Iress and Temenos bring significant efficiency savings, along with improved compliance processes and oversight.

The solution brings all the benefits associated with a full platform replacement, yet with much greater flexibility due to its modular deployment. Lenders can adopt whatever they need when they need it and won't face an expensive and disruptive rip out and rebuild for future enhancements through the joint offering. What is more, it can be hosted in the cloud and charged appropriately, bringing the technology within the reach of smaller as well as larger lenders. 

Single source of data

As we all know, accurate and reliable data is an absolute requirement for businesses today. To this end, once captured, the combined solution ensures a single source of customer data, delivering a seamless process to complete an application and manage an account.

This enables significant efficiency saving and reduces the cost of originating a mortgage. For providers big or small, that can add up to huge savings. Plus, as an added bonus, the digitisation of the process also cuts down on printing and postage costs.

Event triggers

Another benefit is that Iress' new architecture is event-driven, so successive processes can be triggered as events are achieved. This makes tracking easier and automatic, keeping all parties and listening systems informed throughout the application process, and when combined with Iress connectivity can significantly cut the number of case enquiry calls from brokers.

The complete package

The high level of integration gives lenders an out-of-the-box solution for mortgages from sales and origination to servicing such as assessing arrears, calculating interest and giving balances in real-time. 

Iress' MSO provides APIs, allowing lenders to quickly and easily develop their own new services that differentiate them from their rivals in a cost-effective way.

The combined Temenos/Iress mortgage and lending solution allow lenders big and small to provide fast, modern service to their customers in an affordable way. It's what they've been waiting for.

Paul Cole is Head of Business Development at IRESS; Des Noctor is Regional Director for UK and Ireland at Temenos