When developing digital mortgages, Atom found that people don't particularly like banking or borrowing money. What they most want is to move into their dream home and the process to be simple.
Making digital mortgages possible.
To help make their vision a reality, Atom approached IRESS, well known as a leader in mortgage processing software. Selecting MSO our enterprise-class platform for lending. Not only is MSO widely recognised as being best in class it also offered Atom the omni-channel and digital capability they were looking for.
"a natural fit to support our proposition" Maria Harris, Director of Lending
IRESS and MSO have been instrumental in bringing Atom's pioneering digital mortgage strategy to life. IRESS MSO gave Atom:
Re-imagining the mortgage experience.
In delivering digital mortgages, IRESS and Atom explored the 'art of the possible', deconstructing the mortgage sales and originations process, with the aim of making the journey simpler and more transparent for brokers and consumers alike.
This involved identifying what brokers and consumers really want, and don't want as part of their ultimate mortgage journey. The resulting digital mortgage experience is an innovative and vastly more efficient journey for brokers, consumers and Atom themselves.
Brokers benefit from:
The system only captures what information is relevant to the case in hand so there's no duplication involved. As a result consumers are asked for as little information as possible.
Customers want quick decisions.
IRESS & Atom have delivered the most advanced end-to-end workflow process in the market, from application, through decisioning, valuations, conveyancing and on to completion eliminating the need for re-keying and creating unrivalled process speeds.
"Full mortgage offer in just 22 minutes and a remortgage application to completion in just 9 working days"
Lenders want to integrate with platforms seamlessly and easily.
MSO seamlessly integrated with numerous best of breed 3rd party solutions, this included:
This enabled Atom to share information across different parties across the mortgage value chain, resulting in a faster, more transparent and efficient process. Crucially, Atom were able to integrate their custom-built mobile app seamlessly with the MSO platform through an open API architecture.
Together, IRESS and Atom are transforming the mortgage experience as we know it, with mortgages now taking less than an hour to get to offer - something that would have been almost unimaginable a year ago. Digital Mortgages, powered by MSO, is delivering a vastly improved and differentiated journey that's desirable to the on-demand generation of mortgage brokers and consumers.
We brought all of Nationwide's mortgage channels under one common platform, cutting costs by up to 40%, increasing customer satisfaction and helping to secure their place as a leading UK lender.