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Optalitix, the specialist insurance and finance software provider, today announces that specialist lender Spring Finance (Spring) has selected Optalitix to deliver a market-leading, technology-led new mortgage system.
Optalitix’s cloud lending platform, Optalitix Originate, is trusted by many leading lenders to issue over £7bn of loans. The platform will provide Spring’s mortgage origination platform.
For Spring, the platform will automate and streamline the lending process and improve profitability through an efficient, compliant lending process.
This collaboration will enable Spring to fully automate the decision-in-principle approval process, using data from credit reference agencies, affordability models, and other third parties to provide a robust and reliable lending decision early in the application process.
The new platform will also allow brokers to seamlessly API customer data from their internal systems, reducing the need tore-key any data.
Alistair King, COO at Optalitix, said: “We are excited to be providing Spring with our innovative Originate platform. By integrating our platform with their lending decision-making platform, Spring will benefit from the full range of flexibility, intelligence, and efficiency offered by Optalitix Originate. We look forward to being a key partner to Spring in their future growth journey.”
Andrew Bloom, Chief Executive and owner of Spring, added: “Optalitix have extensive expertise within the mortgage industry and the delivery of these systems will play a pivotal role in Spring’s growth plans.”
Shelley Stern, Director of Mortgages, at Spring, said: “We are delighted to be partnering with Optalitix. This is a significant stepforward in using technology to streamline processes, enhancing both the broker and customer experience by providing data-driven reliable decisions.”
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