Novus launches Pathfinder to help lenders capitalise on homebuying reform
The platform uses lenders’ real-world data to test different ways of improving mortgage applications and home buying.
Novus Strategy has launched Pathfinder, a mortgage journey simulator designed to help lenders plan changes before investing.
The platform uses lenders’ real-world data to test different ways of improving mortgage applications and home buying.
It allows lenders to assess priorities, sequencing, partnerships and suppliers in a low-risk environment.
Pathfinder also shows potential financial and efficiency gains in real time.
It includes lender benchmarking, a vendor radar and options for procurement.
The consultancy said Pathfinder will help lenders understand upfront information, Smart Data and the Government’s home buying and selling reform plans.
Novus is set to demonstrate the platform at its Digital Disruption Live event at the Everyman Theatre in Manchester on 23rd September.
Kevin Duncan, Pathfinder product director at Novus Strategy, said: “Pathfinder gives lenders a pathway they can be confident of investing in, because it shows them what the outcomes are likely to be.
“It’s a marked change in how lenders approach innovation and transformation.
“In the past, innovation programmes relied on analysis and recommendation.”
Duncan added: “With simulation, lenders can literally see the outcomes before they invest.
“That’s why the simulator is going to prove game changing for these lenders at a critical moment for the industry.
“Pathfinder is the catalyst that tells them what they need to do to help bring down time-to-completion, and we’ve already shown that the entire redesign process can take as little as four weeks, even for a larger lender.”
He said: “Given that the industry has more of a configuration problem than a technology problem, none of this necessarily warrants changing vendors or rebuilding solutions, and all lenders have the chance to make very quick gains.”
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