The system includes KFI production, online agreement and decision in principle, electronic submission of applications and comprehensive case tracking and commission handling tools.
The system is end to end and incorporates DPR’s loan servicing system along with the sales, pipeline processing and finance modules.
The assisted underwriting technology uses advanced workflow, rules and direct links to valuers, credit bureaux and other third party systems to automate and streamline the process, accelerating time to completion and minimising the cost of acquiring new business.
Where manual work is required, such as checking the applicant’s proof of income, the system automatically allocates and monitors tasks to ensure a speedy and efficient completion of each case and a smooth transition into account administration.
Paul Myers, chief operating officer at Aldermore said: “Choosing the right technology partner has been critical to our ability to deliver against our long term strategy. DPR was selected not just because they have the best technology, but because they have instilled the need to be agile at the heart of everything they do, from the design of their components to their project methodology.
“This has been the key to making this project work, and the fact that we have gone from a standing start to full live operation of both origination and servicing in fewer than six months is a testament to the quality of DPR’s solution both technically and in terms of their approach.”
Adrian Tilley, head of IT and transformation at Aldermore, added: “The ease of use and process automation really do speed things up, meaning we can do more in less time with fewer bodies. No more re-keying, no more photocopying documents - everything is online and the brokers can help themselves to forms and upload paperwork that they’ve scanned themselves.
“Our internal users can see in one place exactly what tasks they need to be working on, and the team leaders get a top down view showing pipeline activity and customer activity as it flows through the system, so they can anticipate bottlenecks and act quickly to avoid missing the SLAs that we have in place.”
