It plans to improve the broker journey by automating key parts of the process
Specialist lender Foundation Home Loans has selected Ohpen’s SaaS mortgage technology as its underwriting platform to transform its mortgage origination proposition.
The lender intends to use real time data to improve the broker journey by automating key parts of the process, enabling its staff to focus on building stronger lender-broker relationships and other strategic activities that underpin the firm’s growth aspirations.
With these ambitions, the volatility in the UK mortgage market, and the evolving regulatory landscape, Foundation believes the software investment gives it the ability to react quickly to market needs.
“We selected Ohpen to deliver a best-in-class platform that will give our business the capability to meet our future strategy,” said Chris Lomas, IT director at Foundation Home Loans. “The flexible and highly configurable range of core modules allows us to offer a state-of-the art broker experience.
“We were convinced by the quality of Ohpen’s team and their commitment to deliver the highest level of systems performance required to support our broker partners and our business.”
Ohpen Services UK, a provider of cloud-based banking solutions and part of the Amsterdam-based Ohpen Holding, has been operating in the mortgage market since 2021. Earlier this year, Dudley Building Society also selected the mortgage origination and intermediary portal of Ohpen to transform its core mortgage proposition. The fintech firm is set to deliver its cloud-based banking solutions to two more lenders soon.
Jerry Mulle, UK managing director at Ohpen, said it was delighted that Foundation Home Loans had trusted them to help deliver a real change in the lender’s originations journey.
“We see Foundation as a key strategic partner with whom we will collaborate to innovate and drive focussed change at pace for the specialist mortgage market,” Mulle added. “This is further evidence that the market is crying out for technology, which can modernise the end-to-end process and remove the straightjacket that legacy technology has placed on UK lenders’ modernisation ambitions.”
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