Monmouthshire Building Society has partnered with MQube, the mortgage technology provider.
The society will adopt MQube’s AI-powered mortgage origination platform, ‘Origo’, to enhance service delivery and cut processing times.
Using advanced artificial intelligence (AI) and real-time data analysis Origo instantly reviews a broad range of financial, credit, and property data.
This allows Monmouthshire Building Society to process mortgage applications far more quickly than traditional methods, cutting decision times from days to minutes.
MQube’s team is working closely with Monmouthshire Building Society to tailor the platform to its unique needs.
Will Carroll, chief executive officer at Monmouthshire Building Society, said: “At Monmouthshire Building Society, we’re committed to using technology to deliver better outcomes for our members.
“Borrowers today expect not just great service but also speed and certainty and we’re determined to deliver on all fronts.
“Our partnership with MQube gives us access to cutting-edge technology that will help us simplify the mortgage journey while reducing costs and risk.
“It’s a key step in our ongoing journey to be a modern mutual that truly puts members first.”
Stuart Cheetham, founder and CEO of MQube, added: “We’re thrilled to welcome Monmouthshire Building Society to the Origo platform.
“As more lenders embrace AI and automation, it’s great to see a forward-thinking mutual leading the way.
“Origo is already powering faster mortgages at MPowered and we’re excited to help Monmouthshire bring those same benefits to their customers and brokers.
“We look forward to supporting them on their journey and continuing to help reshape the mortgage industry for the better.”
