Temenos has launched a fully-integrated, AI-powered digital mortgage solution that streamlines the lending process for borrowers and lenders.
This front-to-back platform uses Explainable AI to provide transparent affordability assessments, enabling lenders to make quick and responsible decisions.
Suitable for banks of all sizes, building societies, credit unions, and challenger banks, the composable and scalable solution comes with pre-configured user journeys and out-of-the-box integrations. Lenders can deploy the complete front-to-back solution to accelerate time to market, or they can choose individually deployable components that easily integrate via APIs with existing infrastructures.
Prema Varadhan, president product and chief operating officer at Temenos, said: “The mortgage experience from many lenders is slow and fragmented, resulting in customer leakage in the application process.
“With this new solution, lenders can easily upgrade their mortgage capability, elevating the digital experience and leverage explainable AI for fast, responsible lending decisions.
“Despite the economic headwinds, the mortgage market continues to grow and by modernising their systems in this way, we’re helping lenders increase volumes sustainably while ensuring affordability and transparency.”
Stewart Watterson, strategic advisor at Aite-Novarica Group, added: “Mortgage lenders should take this time to rethink their existing workflows while starting from a clean whiteboard. Digital straight-through processing is no longer just aspirational; lenders have an opportunity but will need to divest themselves of the patchwork of paper, batch files, and legacy technologies that have been strung together over time.
“Making the capital investment in true digital end-to-end solutions sitting on a modern tech stack will provide a positive boost to efficiency ratios through cost of errors expenses alone, coupled with the ability to redeploy FTEs to higher-impact business areas.”
