The mortgage industry is about to undergo a major transformation through the groundbreaking partnership between mortgage platform technology leader Smartr365 and renowned financial services provider Nationwide. By implementing innovative technology solutions, this collaboration aims to revolutionize the mortgage journey, making it fully digital, frictionless, and customer-led.
Overhauling the mortgage process
The current mortgage process is often cumbersome and paper-based, causing delays and inefficiencies for both borrowers and brokers. However, with the goal of streamlining the entire process, Smartr365 and Nationwide are set to transform the industry. By leveraging cutting-edge technology, they aim to eliminate the traditional paper-based systems and make the mortgage journey a seamless online experience.
Time-saving for brokers
One of the major benefits of this partnership is the significant time-saving it brings to brokers. Traditional mortgage applications require brokers to spend a considerable amount of time on manual paperwork, including collecting and validating bank statements, income documents, and other financial records. By digitizing the process, it is predicted that brokers will save approximately 30 minutes per application. This time-saving allows brokers to handle more clients and provide a higher quality of service.
Smartr365: A Pioneer in Mortgage Platform Technology
Smartr365 has firmly established itself as a driving force in the mortgage industry, popularizing advanced mortgage platform technology and empowering brokers across the UK. The company’s expertise lies in developing innovative solutions that streamline the mortgage process, enabling brokers to focus on their clients and deliver a superior customer experience. The partnership with Nationwide further strengthens Smartr365’s position as a frontrunner in mortgage platform technology.
Nationwide: A leading financial services provider
Nationwide’s reputation as the world’s largest building society is unparalleled in the financial services industry. With a diverse range of products and services, including mortgages, Nationwide has always been committed to providing exceptional customer experiences. Through this partnership with Smartr365, Nationwide aims to further enhance its offerings by transitioning to a fully digital mortgage journey, placing customers at the center of the process.
Ambitious growth plans
Smartr365’s CEO recently unveiled ambitious growth plans, which include supporting 6,000 UK brokers by the end of the year. This partnership with Nationwide plays a crucial role in realizing these plans, as it facilitates access to a wider market and increases the reach of Smartr365’s transformative mortgage technology. As a result, more brokers will be able to benefit from the streamlined processes and improved efficiencies offered by this collaboration.
Nationwide’s commitment to the partnership
Nationwide’s commitment to the partnership with Smartr365 is evident through the support of the company’s Intermediary Digital Relationships Lead. The affirmation and dedication from Nationwide further solidify the partnership’s mission to revolutionize the mortgage industry. With Nationwide’s influential presence, this collaboration is poised to bring about significant changes to the way mortgages are processed, benefiting brokers and borrowers alike.
Eliminating manual document collection
One of the notable advancements resulting from this partnership is the elimination of the need for mortgage applicants to manually obtain bank statements and other financial documents. This breakthrough streamlines the application process, removing a time-consuming and often frustrating step for borrowers. By leveraging automation and connectivity, the partnership enhances the quality of service experienced by applicants and further accelerates the mortgage journey.
Towards a completely digital homebuying journey
As this partnership reaches new milestones, there is an expectation that more lenders will join in the endeavor to achieve a completely digital homebuying journey. The ultimate aim is to create a frictionless and dynamic process that offers seamless integration with lenders, real estate agents, and solicitors. Through the implementation of innovative technology solutions, the mortgage industry can evolve into a truly digital ecosystem, providing a more efficient and convenient experience for borrowers.
The collaboration between Smartr365 and Nationwide signals the beginning of a transformative era in the mortgage industry. By overhauling the traditional paper-based processes and embracing innovative technology solutions, this partnership aims to streamline operations, save time, and enhance the overall customer experience. With increased market coverage and ambitious growth plans, the vision of a completely digital homebuying journey is becoming a tangible reality. As this revolution takes hold, more lenders are expected to join forces, paving the way for a future where obtaining a mortgage becomes a seamless, digital endeavor for all.