Marlborough Stirling Mortgage Services Limited (MSMS), the Business Services Provider (BSP) for the mortgage marketplace, has announced today a major contract to process some mortgage applications for Alliance & Leicester`s customers. The initial 12-month contract is likely to be worth in excess of lb3m
Alliance & Leicester has five mortgage processing centres around the UK and these are not affected by this agreement. Following an increase in mortgage business in recent months, Alliance & Leicester required extra resource to process mortgage applications - but without expanding its existing infrastructure. It wanted a flexible, scalable and robust partner to support its existing operations
After assessing the marketplace, Alliance & Leicester chose MSMS because its combination of outsourcing services and technology meant it could handle large and fluctuating volumes. Furthermore, it was also impressed by MSMS` speed of response - implementation will have taken less than ten weeks from start to finish.
Using MSMS` service proposition Alliance & Leicester will benefit from an outsourcing partner that can support its business objectives of; increasing market share, maintaining and improving its high quality service to key customers, and achieving operational cost predictability.
Alliance & Leicester joins Egg, Prudential Bank and London Mortgage Company (LMC) as clients of MSMS.
John Windeler, Alliance & Leicester`s executive chairman, comments: "Our agreement with MSMS is further evidence of our commitment, as part of our strategy, to forming partnerships which provide effective solutions to our business needs."
He continues: "We have experienced a very pleasing increase in mortgage applications in recent months and MSMS will help us to continue to provide an excellent service to our customers while at the same time containing our costs."
Joe Bradley, chief executive of MSMS, adds: "As a new company MSMS is delighted to have already won such a significant contract. Getting a vote of confidence from A&L - a major, blue-chip lender - sends a strong message to the industry that MSMS is on course to achieve great things."
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MSMS is a new mortgage services company established in December 2000 by Egg plc, a leading UK e-commerce financial services brand, and Marlborough Stirling plc, a business solutions provider to the mortgage, life and pensions and investment industries. MSMS targets both traditional and new entrant lenders and intermediaries, including those emerging from non-financial sectors such as utilities, with end-to-end Business Service Provisioning (BSP) solutions. By allowing MSMS to manage their administration operations, it is intended that lenders and intermediaries will be able to reduce operational costs, establish e-mortgage solutions, launch innovative new products quickly and benefit from improved customer service.
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