The new platform enables brokers to submit specialist cases in minutes
Specialist lender Bluestone Mortgages has launched its new digital platform, Bluesky, which allows brokers to submit a complex case within minutes, making the application process more efficient and eliminating the need to rekey data.
Following a six-week pilot to Bluestone’s key Sapphire Partners, Bluesky is available to the whole market, aiming to provide brokers with a number of benefits, helping them get credit decisions faster by utilising automation and Open Banking. These benefits include:
- Automated credit reports - Brokers can get a credit decision earlier on in the application process
- Reduction in processing times - Brokers will be able to accurately gather household expenditures using Bluestone’s Open Banking integration within minutes, saving them time while also providing more accurate customer information
- Committed expenditure automation - Bluesky will save brokers time when keying in an application by pulling through their client’s committed expenditure from their credit file
Bluestone Mortgages, recently acquired by Shawbrook Bank, said it has been able to halve the average application to offer time from 17 days to just eight days with the new platform.
“The application to completion journey for a specialist case has traditionally been a lengthy and burdensome task,” Doug Hall, director at mortgage packager 3MC, commented. “Bluestone’s new platform has completely revolutionised this process, speeding up the application journey and ultimately resulting in better customer outcomes.
“Through the platform, we have been able to provide an application to completion in just 21 working days, an outcome we never thought previously possible.”
Reece Beddall (pictured), sales and marketing director at Bluestone Mortgages, added that the launch marked an important milestone on the lender’s automation journey.
“This technology enables us to work smarter and faster, allowing us to dedicate more time to our holistic manual underwriting approach,” Beddall stated. “We hope that by launching this platform, we can encourage a greater uptake of Open Banking, to not only speed up the application journey for complex cases, but provide better outcomes for the end customer.”
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