Optalitix, a specialist insurance and finance software provider, has announced that it has been chosen by specialist lender Spring Finance to deliver a technology–led new mortgage system.
Optalitix’s cloud lending platform, Optalitix Originate, is used by a number of lenders to issue over £7bn of loans and will provide Spring’s mortgage origination platform.
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.
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 step forward in using technology to streamline processes, enhancing both the broker and customer experience by providing data-driven reliable decisions.”