Experian, the global information services company, today announced that it has signed a contract with Stroud & Swindon Building Society (SSBS) for the implementation of its Mortgage Sales and Originations (MSO) technology.
The system will be provided by N4 Solutions (N4), an Experian company and one of the UK's leading providers of multi-channel distribution and fulfilment technology for mortgages and wealth management.
Experian's innovative MSO technology will provide SSBS with a single unified system for mortgage sales across all channels. The effect will be a seamless experience for both customers and SSBS staff, whilst reducing costs by utilising a number of automated processes. The implementation will also include a suite of complementary Experian products and services to facilitate automated decisioning, customer identification and fraud prevention.
"The ability to complete and receive applications electronically will significantly speed up the application process and allow us to reduce both administrative and operational costs," said Keith Henley, senior manager of Business & Information Systems at Stroud & Swindon Building Society. "In the current economic climate, providing an efficient and consistent mortgage processing system is fundamental to the Society's lending strategy."
"The main reason Experian acquired N4 was to deliver a unique offering for UK Mortgage lenders using fully optimised sales and originations processes." said Gary Muchmore, Sales Director of N4 Solutions. "Since the acquisition we have been working hard to bring our integrated proposition to market and are extremely pleased that SSBS have decided to implement the N4 Experian platform across all of their distribution channels."