A Better Mortgage Lending Experience 

In this white paper, experts from nCino and PwC explore five common mistakes that firms make when attempting a digital transformation project, and offer best practices drawn from their experience in deploying hundreds of new platforms on behalf of clients across multiple geographic regions.With regulatory headwinds picking up, interest rates still rising and borrower expectations changing, the macroeconomic outlook for UK homebuyers and mortgage lenders alike is daunting.This is why many UK mortgage lenders are intent on disrupting the market by serving their clients throughout the entire homeownership journey, from applying for a loan to refinancing their home. To achieve this goal of capturing more of the home buying journey and growing direct lending market share, mortgage lenders will need to provide borrowers with seamless and efficient mortgage experiences. During a time when it is more important than ever to identify and act on operational efficiencies and areas for cost savings, lenders can no longer afford to ignore their legacy technologies and antiquated processes.

Consolidation of multiple systems to nCino’s cloud banking platform will provide advanced agility so UK specialist mortgage lender can continue to stay ahead of changing customer and market expectations.

The COVID-19 pandemic highlighted previously unaddressed issues in the mortgage landscape and put pressure on lenders to quickly update their systems to meet the challenge.More recently, in response to interest rate uncertainty we’ve seen record amounts of mortgage products being removed from the market in the UK, more than during the pandemic. Digital transformation is no longer a ‘nice to have’, but a necessity to better respond to changes in demand and adapt to an evolving market. With many lenders now looking to, or having already started to, digitally transform their lending operations, it’s time to discuss the ways in which they can de-risk the re-platforming process.“The current climate proves once again why lenders need to ensure they have built in agility across core technology stacks to facilitate rapid responses to market changes,” said Will Stevns, Partner, Customer Led Transformation in Banking, PwC.

Modern, cloud-based digital technology is a must-have for financial institutions seeking to enhance the customer experience, improve operational effectiveness, streamline internal communications, and allow access to data across the enterprise.For years, the only option was to develop such technology in-house. While this approach offers some benefits, such as greater control over implementation and customizations, there are a host of hidden costs.The good news is that banks and credit unions now have a second option: the ability to buy technology and implement it quickly, cost effectively, and more efficiently than they could on their own. By taking a “buy” approach, FIs can go to market with new technology quickly, typically within 12 months.While this strategy can save time, money and resources, it isn’t as simple as hitting a “buy now” button. How your FI implements its buy strategy is critical to ensuring you make the most of your investment and achieve your goals within the timeframes and budgets allotted to the project. This seven-step road map can help:

Elegir al proveedor de hipotecas digitales adecuado puede resultar desalentador. Los bancos que ofrecen hipotecas deben tener en cuenta no sólo sus propias necesidades de negocio, sino también la normativa federal que afecta a la forma en que gestionan y acceden a los datos de sus clientes. En un entorno hipotecario cada vez más tecnológico, los bancos buscan nuevas soluciones digitales para resolver viejos problemas.