Following a successful pilot, building society Nationwide has launched an API integration with end-to-end mortgage platform Smartr365.
With the integration of Nationwide’s API solution, it means intermediaries can submit customer Decision in Principle (DIP) applications without needing to rekey data in the Nationwide portal.
It added that the integration should save brokers up to one hour per application by automating manual processes. This service will initially be made available for the remortgage journey.
Once a customer has entered their personal data into the digital Fact Find on Smartr365’s HomeBuyer app at the beginning of the application journey, brokers will no longer need to key in customer data at any point in the process, streamlining the homebuying journey.
Smartr365’s technology offers automatic identification and verification capabilities, as well as automated income verification services. The use of digital automation by Nationwide will leave brokers with more time available for the advisory and application stages of the process.
Additionally, brokers will receive DIP decisioning in one central place through the Smartr365 platform.
Smartr365 founder and CEO Conor Murphy said, “The integration of Smartr365 technology within the Nationwide API solution is another step in driving a more seamless, efficient, and accurate mortgage journey. Not only will the DIP API system provide a significant time-saving benefit for brokers, but also reduce the risk of human error, creating a better level of service for clients.
“By partnering with Nationwide, Smartr365 has brought its total product coverage to almost half of all UK lenders – a significant milestone for the company – but more importantly, evidence that the industry is committed to a crucial digital transformation.”
Smartr365 is integrated with almost 50% of the UK mortgage market, including Halifax, Barclays, Accord Mortgages, TSB, Leeds Building Society, Aldermore and Nationwide.
Nationwide recently signed a deal with Human API to improve the life insurance buying experience through the use of health data.
Copyright © 2022 FinTech Global
