The society said this aims to reduce the time it takes mortgage brokers to source and submit client applications.
Nationwide Building Society has launched a sandbox pilot that enables third party systems to connect with the society’s credit risk and back office systems via APIs.
This means clients' information can be input once and shared between systems.
The society said this aims to speed up the process by reducing the time it takes mortgage brokers to source and submit client applications.
Ian Andrew, director of intermediary relationships at Nationwide Building Society, said:“Technological advances in all sectors increases people’s expectations of what they want from a business and it is important we are able to serve brokers on their terms.
“Brokers generate a significant proportion of our mortgage lending, so it’s important we also invest in our services.
“The launch of our API sandbox is a significant moment for Nationwide and the sector and we’re excited to be innovating and learning in partnership with a number of third parties in a test ahead of rolling out this new technology to the whole market.
“We hope this gives brokers back valuable time to help more clients or focus on other activity. We continue to look at ways we can improve the service offered to brokers both now and in the future.”
