Nationwide and Smartr365 push for digital evolution in the mortgage industry

Smartr365, a leading end-to-end mortgage platform, and Nationwide, the world’s largest building society, recently convened in London to discuss their partnership and the forthcoming advances in mortgage technology. The two companies hosted a joint event, demonstrating their shared commitment to advancing the mortgage industry through technology.

The objective of this partnership is to revolutionise the mortgage industry by implementing innovative technology solutions. The focus is to overhaul the current cumbersome, paper-based processes to make the mortgage journey fully digital, frictionless, and customer-led. This partnership aims to save brokers significant time and effort, with a predicted time-saving of around 30 minutes per application.

Smartr365 is a pioneer in mortgage platform technology. By providing an end-to-end platform, the company empowers brokers by streamlining the mortgage process, making it seamless, fast, and efficient. On the other hand, Nationwide, renowned as the world’s largest building society, offers an extensive array of financial services, including mortgages. Its expertise lies in providing its members with a comprehensive range of financial products and services.

Smartr365’s CEO, Conor Murphy, has announced ambitious growth plans, including supporting 6,000 UK brokers by the year’s end, up from the current figure of 3,500. Furthermore, a forthcoming partnership with a significant mortgage lender will catapult Smartr365 to cover 62% of the market. This partnership with Nationwide and Experian Open Banking marks another strategic milestone for Smartr365.

Nationwide’s commitment to the partnership was reaffirmed by Andy Tilsley, the company’s Intermediary Digital Relationships Lead. This collaborative effort aims to streamline the homebuying journey, an initiative that is resonating throughout the mortgage industry. The event’s timing is pertinent, following last month’s announcement of Nationwide’s approval for the roll-out of Experian’s Open Banking solution to mortgage applicants via Smartr365, marking the end of a successful pilot scheme.

The recent event demonstrated how Smartr365’s mortgage platform, in collaboration with Nationwide’s commitment and Experian’s Open Banking solution, can streamline the entire process of acquiring a mortgage. By digitising and automating the process, the partnership eliminates the need for mortgage applicants to manually obtain bank statements, saving significant time and enhancing the quality of service.

Smartr365 CEO and Founder Conor Murphy said, “With the mortgage market once again moving at pace, we are reminded of the importance of time-saving technology tools that streamline the entire process and keep activity flowing smoothly.

“It was fantastic to hold our joint event with Nationwide to showcase what our end-to-end mortgage platform is capable of, and with another significant lender integration to be announced very shortly, we will be soon be connected with almost two-thirds of the entire market. As we approach this milestone, we expect even more lenders to get on board with the aim of achieving a completely digital homebuying journey in the not-so-distant future.”

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