Buy-to-let mortgage lender Landbay has chosen Oracle NetSuite to attract more users to its platform.
It says the system will accelerate decision-making so that it can process loan applications 10 times faster than other lenders.
With accelerating growth and ambitious plans to own 10% of the overall specialist buy-to-let market in the UK by 2020, Landbay needed a unified and flexible business platform that could scale to support changing business needs. To meet these demands, achieve a real-time view across its business and reduce the amount of time spent running reports, Landbay selected NetSuite.
“Landbay is rapidly scaling and to support this growth we needed a technology platform that would enable us to make decisions quickly, while continuing to offer competitive products for our borrowers and lenders,” said Julian Cork, chief operating officer, Landbay.
“For us, growth means signing up more people as investors and providing more mortgages to landlords, so we need to offer competitive rates on both sides. NetSuite supports that goal by giving us the insights we need and also frees up our team to build out the best mortgage products for landlords and investors.”
With NetSuite, Landbay says its staff will be able to make swifter decisions around mortgage applications and investor sign ups. As a result, Landbay is able to approve any loan application in 48 hours versus the industry average of three weeks.
“Landbay’s impressive growth stems from having a product that offers accessible, competitive returns for investors and competitive rates for borrowers,” said Nicky Tozer, EMEA VP, Oracle NetSuite.
“By running its business on NetSuite, Landbay has a solid foundation for growth and can focus its time and resources on continuing to provide its customers with market-leading products and services.”