It is the latest investment in technology to transform its mortgage process
Leek Building Society has selected mortgage software MSO to streamline administration, improve underwriting efficiency and boost the growth of its mortgage business through an improved customer experience.
The mutual wanted to reinvent its mortgage processing platform to enhance customer experience by increasing speed, quality, and efficiency around mortgage decisions, with the ultimate objective of building an integrated platform.
After a competitive selection process, Leek chose Mortgage Sales and Originations, or MSO, which was developed by mortgage software provider Iress.
We’re excited to announce our latest investment in technology to transform our mortgage process and enhance customer experience. With this investment, @LeekBuildSoc will provide a faster, more efficient mortgage process whilst retaining the personal touch! https://t.co/J0wF5eKiQM
— Darren Ditchburn (@DitchburnDarren) January 25, 2023
“We’re excited to be making this significant technology investment to transform our mortgage process and improve the level of service provided to both our mortgage intermediaries and direct customers,” Darren Ditchburn (pictured), deputy chief executive at Leek Building Society, said. The Iress MSO product will enable us to speed up our mortgage process through increased automation and connectivity between multiple systems used throughout the mortgage process.
“Our people will have improved access to all the data they need to make quicker decisions, spending more of their time on providing the personal touch in the mortgage decision making process,” he said. “We are looking forward to working with Iress and benefitting from both their technology and wider experience in the mortgage market.”
Andrew Simon, mortgages chief executive at Iress, said that Leek is the latest regional building society to partner with them for their MSO software. Other partners include Coventry Building Society, Darlington Building Society, and Principality Building Society, among others.
“MSO’s ability to blend the automation of routine tasks with human decision-making skills enables regional societies to deliver their purpose-led mortgage strategy that is so valuable to their communities,” Simon said. “The fact that MSO is cloud based also means it can flex and scale to grow with Leek, and support its ambitions for digitisation in a rapidly changing market.
“We’re excited to be working on this project with Leek Building Society and are looking forward to them reaping the benefits that efficient, scalable technology can bring.”
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