Temenos unveils AI-driven digital mortgage solution for efficient lending


Temenos, a global leader in banking software, has launched a fully-integrated, AI-powered digital mortgages solution.

The novel product is a response to the slow and fragmented mortgage experience offered by many lenders. It aims to streamline the mortgage journey, providing an efficient and personalised digital experience for borrowers while reducing costs and the time it takes for lenders to close.

Temenos is renowned for its innovative banking software solutions, offering advanced technology to financial institutions worldwide. Their expertise lies in creating systems that streamline operations, enhance customer experiences, and drive growth.

The newly launched Temenos Digital Mortgages solution employs Explainable AI to power its smart decision engine. This technology enables lenders to make quick and prudent decisions through automation and intuitive workflows. It provides transparent and explainable affordability assessments, enhancing productivity and reducing delinquencies.

More than just a decision-making tool, the new solution offers a hyper-personalised experience for borrowers at every touchpoint. This is achieved through a partner ecosystem model, ensuring a seamless customer experience and increased satisfaction.

The solution is both composable and highly scalable, making it suitable for banks of all sizes, building societies, credit unions seeking to enhance their services, and even FinTech or challenger banks wishing to enter the mortgage market.

Lenders have the option to deploy the fully pre-integrated solution that comes with pre-configured user journeys and out-of-the-box integrations for document generation and management, ID verification, and analytics. Alternatively, they can opt for individually deployable components that integrate via APIs with their existing infrastructure.

Temenos Digital Mortgages solution is cloud-native, available for deployment in lenders’ data centres, on any public cloud, or as a Software as a Service (SaaS) on Temenos Banking Cloud. This flexibility enables rapid launch and scaling of services.

Prema Varadhan, president product and chief operating officer, Temenos, said, “With this new solution, lenders can easily upgrade their mortgage capability, elevating the digital experience and leverage explainable AI for fast, responsible lending decisions. Despite the economic headwinds, the mortgage market continues to grow and by modernising their systems in this way, we’re helping lenders increase volumes sustainably while ensuring affordability and transparency.”

Stewart Watterson, strategic advisor, Aite-Novarica Group, added, “Making the capital investment in true digital end-to-end solutions sitting on a modern tech stack will provide a positive boost to efficiency ratios through cost of errors expenses alone, coupled with the ability to redeploy FTEs to higher-impact business areas.”

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