Aldermore has announced partnerships with technology firms Iress and Twenty7Tec to streamline electronic application submissions.
The bank has integrated the systems via the DPR Distribution Hub which connects to the bank’s broker portal, part of the DPR Mortgage Solution.
Iress’s Lender Connect captures all relevant customer application information in the software and transfers it to Aldermore’s broker portal via an application programming interface (API). The software automatically populates up to 80% of a DIP cutting down on rekeying, errors and unnecessary work, providing a quicker, more efficient case process
The integration between Aldermore and CloudTwenty7 will allow brokers to input cases through the platform and then transfer them instantly via the Distribution Hub to Aldermore’s broker portal via API.
Brokers can submit DIP applications to Aldermore directly within the system, avoiding duplication and promising to speed up cases. DIP decisions will be sent back to the CloudTwenty7 platform and displayed to the user.
Case information post-DIP will be available in the broker portal to aid in the completion of the full application, reducing re-keying of data.
DPR’s new Distribution Hub can connect any distribution platform, such as sourcing and CRM systems, to Aldermore.
Brokers will benefit from faster application submissions and increased adviser efficiency by the hub’s ability to produce accurate European Standard Information Sheet (ESIS) documents, automatic creation and population of customer data, and by receiving a DIP directly within the adviser’s system.
Jon Cooper, head of mortgage distribution at Aldermore, said: “Technology is what will drive our industry in the future and this is a milestone in Aldermore’s digitalisation journey to deliver a streamlined end-to-end broker experience. The specialist lending space deals often with complex cases, so it is important that we focus on ways to improve and speed up the process so brokers can get the best outcomes for customers.
“We have partnered with DPR, Twenty7Tec and Iress as all are leading the way in achieving a more connected mortgage market for everyone. They provide streamlined solutions that quicken and simplify the journey allowing for more accurate information between brokers and lenders. We are delighted with the collaborative approach both sourcing system providers and DPR brought to this project, and we will continue to work closely with them in the future to improve our processes for our brokers.”