Lending

No ordinary mortgage proposition, Atom bank is the UK's first all-digital challenger bank. They are a digital bank with a human side, highly personalised and customer obsessed. Not afraid to challenge the status quo, a mortgage proposition from Atom was never going to be ordinary.

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:

  • Full automation of the entire mortgage sales and originations process, from initial enquiry through to onboarding and servicing. 
  • A responsive web design that enabled on-demand multi device access.
  • The ability to integrate with best of breed 3rd party industry solutions for decisioning & fulfilment.
  • An open API architecture. 

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: 

  • case tracking
  • real-time alerts
  • forms which can be completed in any order
  • ability to attach documents via their device's camera

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:

  • Atom's own CRM and mortgage services platforms
  • Experian
  • DecisionMetrics
  • Hometrack AVM
  • Landmark

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.

IRESS and Atom dream team

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.

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