Mortgage brokers can now get a decision in principle (DIP) a lot faster with Nationwide as the Society improves its API tech in partnership with mortgage tech company Twenty7Tec.
The service will see brokers only having “to re-key minimal data into the Nationwide for Intermediaries online portal as up to 95% of the client’s data is transferred from their Customer Relationship Management (CRM) platform via Twenty7Tec’s APPLY.”
This enables advisers “to receive a DIP from Nationwide faster than ever before, offering increased and earlier certainty of acceptance.”
In March 2020, the Society “launched its pilot API solution with Twenty7Tec’s APPLY platform for standard remortgage DIPs.”
This latest expansion will “allow brokers to now process both standard purchase and remortgage DIPs.”
The Society is looking “to expand the service in the near future to allow brokers to process all mortgage application types.”
Initially, the service has been “made available to Connells Group and Mortgage Advice Bureau brokers using APPLY, but a wider market launch is planned with other CRM platforms shortly before a full roll out is completed in the coming months.”
The Society continues “to work closely with other third parties as it continues to develop and support the latest technological innovations in the broker market as part of a commitment to further enhance its sales process and broker experience.”
Andy Tilsley, Intermediary Digital Relationships Lead at Nationwide Building Society, said:
“We continue to develop and deploy latest technologies to help us enhance the service we offer brokers making it easier for them to do business with us. The use of API’s means brokers no longer have to input their clients’ details into separate systems to progress an application with us.”
Tilsley added:
“By expanding the solution to include standard purchase and remortgage application types, brokers can now save time on more of their cases and get 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, which is why we continue to look at expanding our API proposition further.”
Nathan Reilly, Director of Customer Relationships at Twenty7Tec, said:
“Being able to deliver an enhanced APPLY journey with Nationwide is great news for Twenty7Tec users and the market as a whole. Advisers will now be able to benefit from a more efficient submission process across an increased number of cases, whilst for the market it’s a real positive to see Nationwide responding to intermediary feedback to improve existing technology and deliver even more value.”
