Nottingham Building Society taps MQube for AI-powered mortgage origination platform
Nottingham Building Society (also known as The Nottingham) has partnered with software vendor MQube to streamline its mortgage lending processes.
The Nottingham taps MQube to enhance its mortgage processes
The UK building society, which was founded in 1849, will leverage MQube’s AI-driven mortgage origination platform Origo.
The platform automates the entire underwriting process, which according to The Nottingham will enable it to provide a faster lending service, mitigate risks, and reduce costs.
Paul Howley, Nottingham Building Society’s chief technology and transformation officer, says in 2024 borrowers face more challenges than ever before, so the company is “evolving” its mortgage proposition to “have an impact on growing homeownership” and help support “a wider range of borrowers”.
Howley states that the “new technology-driven platform from MQube will help us better serve our customers by speeding up and smoothing out the mortgage journey”.
MQube says its Origo solution can assess around 20,000 data points in real time thanks to its AI and machine learning capabilities, which it claims will enable lenders to process mortgage applications in minutes rather than the usual days or weeks.
CEO of MQube, Stuart Cheetham, says the fintech is on a “mission to make the mortgage journey better for everyone, by increasing speed and bringing certainty to borrowers faster”.
Cheetham adds that the Surrey-based company is also in discussions with other building societies and banks to implement its Origo platform.
