Focus will provide Kensington with an online mortgage application system to enable brokers and intermediaries to transact electronic new mortgage business directly with Kensington via the Internet.
The new online mortgage application system will be built using Focus’ XML toolkit, goal:technology, that is already used by some of the UK’s largest distributors of mortgages, including Norwich Union and Zurich, for both electronic mortgage and mortgage-related applications and has 40,000 users across the UK.
Roy Barnett, Director of Emerging Operations at Kensington Mortgages, commented:
“Providing brokers and intermediaries with the capability to transact electronic mortgages via the Internet will deliver significant business benefits to both our customers and ourselves. Electronic applications will include intelligent navigation so that the customer only fills out the relevant parts of the form and data will pre-populate, reducing the time required to complete an application, creating a more efficient sales process. This new system will support our distribution strategy to offer a wide range of channels to enable intermediaries to interact with Kensington by any means they choose.”
John Streets, Chief Executive, Focus Solutions added:
“As regulation draws nearer mortgage companies are forced to review their business processes. In the new regulated environment mortgage
lenders, such as Kensington, who process mortgage applications electronically, will have a significant advantage. In addition to being able to remain competitive by having an efficient sales process, the ability to change and update electronic products will enable companies to respond quickly to FSA and other business requirements.”
