The integration follows a successful pilot and should save brokers up to one hour per application by automating a time-consuming process, according to Nationwide.
Once a customer has entered their personal data into the digital Fact Find on Smartr365’s HomeBuyer app at the beginning of the application, brokers will no longer need to key in customer data at any point in the process, streamlining the homebuying process.
Smartr365 technology also offers automatic identification and verification capabilities, as well as automated income verification services. Meanwhile, the use of digital automation by Nationwide will ultimately leave brokers with more time available for the advisory and application stages of the process. Additionally, brokers will also receive DIP decisioning in one central place through the Smartr365 platform.
Smartr365 is now integrated with almost 50% of the UK mortgage market, including Halifax, Barclays, Accord Mortgages, TSB, Leeds Building Society, Aldermore and Nationwide.
Conor Murphy, (pictured) Founder and CEO, Smartr365, comments: “The integration of Smartr365 technology within the Nationwide API solution is another step in driving a more seamless, efficient, and accurate mortgage journey. Not only will the DIP API system provide a significant time-saving benefit for brokers, but also reduce the risk of human error, creating a better level of service for clients.
“By partnering with Nationwide, Smartr365 has brought its total product coverage to almost half of all UK lenders - a significant milestone for the company - but more importantly, evidence that the industry is committed to a crucial digital transformation.”
Andy Tilsley, Intermediary Digital Relationships Lead, Nationwide Building Society, said: “The digitisation of the mortgage journey has continued to move at pace in recent years, and today’s announcement reinforces our commitment to deploying the latest technology to help brokers. The use of APIs means that brokers no longer need to input their clients’ details into separate systems to progress an application getting a Decision in Principle faster than ever before. Technology is key to improving the service we offer brokers and their clients, both now and in the future, so we greatly look forward to extending our work with Smartr365.”
Cavelle Johnson, Mortgage Adviser, Riach Financial LTD, adds: “The integration is a fantastic tool, not only does it save time for us as advisors but also for clients. The integration reduces the element of risk when re-keying names, dates of births and addresses. This not only cuts down the time take to key but also reduces the time needed to review the details we enter.”
