The buy-to-let mortgage (BTL) market is facing multiple challenges: A combination of cost pressures, inefficient processing, lengthy time to offer, and fluctuating volumes has left many lenders searching for a solution.
Help is now at hand… Firstsource and Digilytics have partnered to offer BTL lenders a comprehensive offering to enable streamlined operations, improved efficiency, and reduced costs.
‘Mortgage Shared Services’ provides a one-stop shop for lenders -from receiving the application to delivering the funds and future servicing of the account.
Our Solution
Mortgage Shared Services combines human know-how and digital innovation to provide a cost-effective and streamlined solution for BTL lenders:
Intelligent Automation
‘Digilytics’ RevEL is an AI solution that automates manual tasks, such as document verification, as well as income and affordability analysis. It also offers system automation, fit for purpose process queues, and first-time right application packs for lenders
Improved Transparency
The solution provides a centralized platform for lenders to track the status of cases and communicate with brokers in real-time, reducing delays and inefficiencies
Shared Services
Firstsource's shared services team handles pre-processing and pre underwriting tasks using RevEL. This gives lenders significant time savings and allows for resources to be utilized optimally
Features of the Mortgage Shared Services solution
By harnessing the power of artificial intelligence (AI), BTL lenders can ensure increased accuracy and reduced processing time, while also minimising the potential for fraudulent activity
Leveraging multi-tenanted architecture with robust information security controls enables rock-solid data privacy
Choose from an all-inclusive cost-per application model or a customized solution that fits your needs
Leverage our expertise to configure workflows that seamlessly integrate with your existing systems and meet your specific requirements
Gain a cost advantage by selecting servicing locations within theUKor by leveraging our secure offshore centres in India and SouthAfrica, all of which are compliant with Financial Conduct Authority (FCA)regulations
The Benefits
There are numerous benefits associated with the Mortgage Shared Services offering. These include:
- Huge reductions in the cost per mortgage application
- A significant improvement in turnaround times/’days to offer’
- Boosted net promoter scores (NPS)
- Access to highly experienced, tenured staff with the ability to meet fluctuating volume demand through cross training and cross skilling
For more information about the features and benefits provided by Firstsource & Digilytics’ Mortgage Shared Services solution, check out our overview document:
