Cutting-edge software developed by e-commerce financial services specialists Marlborough Stirling has provided its mortgage sector clients with "significant" extra internet capability.
The innovative new component enables lenders to gather data from disparate sources and transfer it electronically to their current point-of-sale and mortgage application processing systems.
It gives them the key advantage of being able to benefit from new distribution channels while building on the reliability of existing systems, claims the company.
Several major lenders, including Egg, are already implementing the new component and Marlborough Stirling, the UK`s leading independent solutions provider for the financial services industry, are in negotiations with a number of others.
Project manager Paul Fitzsimmons says: "We have already invested considerably in product development to provide clients with internet capabilities and this is a significant advancement, because it further enhances their ability to reduce outlay and improve efficiency."
By eliminating the need to re-key information from paper or from one system to another, it is claimed lenders can achieve a "considerable saving" on time and operational costs.
One client, which obtains at least 50 per cent of its business through Intermediaries now has the ability to receive data from IFAs and other third parties over the internet and pass it directly into Omiga, the mortgage point of sale and application processing system developed and implemented by Marlborough Stirling.
Similarly it can take a mortgage application from individuals applying through its website and format it in the same way.
Marlborough Stirling`s end to end e-commerce mortgage management solution has the ability to take a mortgage from initial enquiry throughout the life of the product to completion of the loan. It comprises point-of-sale, underwriting, mortgage packaging, application processing, loan servicing, renewal management and securitisation components.
The company also has a fully comprehensive mortgage outsourcing operation that gives lenders the flexibility required to meet specific business needs.
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Marlborough Stirling
Marlborough Stirling (www.marlborough-stirling.com) transforms financial services through the provision of strategic e-business solutions for mortgages and life & pensions. The company currently employs 880 people.
The organisation`s software systems and support services enable financial service providers to meet consumers` ever demanding requirements for products that are simple and understandable, competitively priced, flexible, distributed through channels to suit them and processed quickly and accurately.
Marlborough Stirling has implemented solutions for over 100 clients. Over two thirds of the UK`s top 25 life companies use its systems and services, as well as almost half of the UK`s top 25 mortgage lenders.