Tech company brings 'pioneering' upgrade to Santander's valuation platform

EDM Mortgage Support Services’ has installed a pioneering upgrade to its Valuation Exchange platform used by mortgage lender Santander.

Related topics:  Mortgages
Amy Loddington
5th September 2016
santander

The upgrade uses a new generation of functionality that increases the extent to which mortgage industry and lender processes can be automated from the current 25% up to 75%.  

The upgrade is initially being applied to Commercial VEX platform used by Santander, but can be spread to similar Commercial, Residential and Buy-to-Let VEX platforms.

Joe Pepper, Managing Director, EDM MSS, commented: 

“This new generation of functionality represents a major step forward in bringing the UK mortgage industry up to date, moving historically manual processes onto digital, online fit-for-purpose technology. 

“Going forward both lenders and the various mortgage professionals, including brokers,  who support the UK mortgage chain will start to see key processes brought online, making the process faster, safer and more transparent for all parties, including the customer.”

Daniel Woodhouse, Head of Corporate & Commercial Property Risk, Santander, commented: 

“This enhanced system represents a real step in delivering an effective end-to-end managed process for our customers.  Processing mortgage applications quickly with accurate and timely data is a key element of our proposition to customers, and with the valuation process available on a single platform we can monitor the whole process end-to-end and maximise the use of our data in a secure environment.”

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