Focus and Trigold have now signed a contract to formalise this strategic partnership to 'transform electronic trading within the UK mortgage industry'.
Following a period of technical due diligence, the terms of the partnership have been agreed and both companies will work together to drive the proposition forward to provide both mortgage advisers and lenders with an enhanced electronic trading solution.
Focus’ technology will be integrated into Trigold’s mortgage sourcing software to provide the capability for Trigold’s over 22,000 users to complete and submit electronic mortgage applications.
As part of the agreement, Focus will ‘fast-track’ lenders to start receiving the benefits of e-commerce by converting the existing Trigold application forms into ‘Focus forms’ to electronically capture data. Over 130 lenders, whose products are available on Trigold, will then have the opportunity to upgrade their Focus forms to provide mortgage advisers with an easy to use full electronic mortgage application. The new applications offer the capability to enable straight through ‘touch free’ electronic processing of new mortgage business.
Bill Safran, chief executive, Trigold comments: “This partnership is a great opportunity for Trigold, Focus and indeed the mortgage market as a whole. All parties within the mortgage sales process will receive significant benefit from using the new Focus forms and we are confident that once our customer base of lenders see the results, they will steadily migrate across to providing advisers with a full electronic mortgage application.”
John Streets, Chief Executive, Focus Solutions added: “The past 12 months in the mortgage market have been extremely successful for Focus we have experienced triple digit growth and taking this partnership with Trigold forward will enable us to strengthen our position and build new business relationships. This new partnership will create an e-commerce community that will provide the market with a much needed efficient method of transacting mortgage business at much lower costs.”
Focus and Trigold will be promoting their new mortgage initiative at Mortgage Business Expo at the G-Mex centre in Manchester from 18-19 May.”
