Saffron Building Society and FintechOS partner to deliver AI-powered mortgage platform
The system will cover broker registration, decisions in principle, full applications, underwriting, offers and completions across Saffron’s product range.
Saffron Building Society has partnered with FintechOS to introduce an end-to-end mortgage origination platform.
The system will cover broker registration, decisions in principle, full applications, underwriting, offers and completions across Saffron’s product range.
It will also integrate with the mutual’s Finova servicing platform.
The platform will use automated decision-making, artificial intelligence (AI)-supported underwriting and centralised lending rules.
It will allow Saffron to change lending criteria, affordability calculations and policies in one system.
Brokers will receive real-time decisions in principle, digital application processing and updates at each stage.
Saffron said the system will help it increase lending volumes, expand its broker network and launch mortgage products more quickly.
Colin Field, CEO of Saffron Building Society, said: “This partnership is an important step in Saffron’s wider transformation.
“We are investing in a modern mortgage origination capability so we can respond more quickly to changing customer and broker needs, create real decision certainty, and grow our specialist lending proposition without compromising the personal service and underwriting judgement that differentiate us.
“We chose FintechOS because its flexible, modular platform will integrate with our existing technology, give our teams greater control over product and journey changes, and provide a scalable foundation through which we can responsibly harness AI to support colleagues, enhance decision-making and deliver simpler, more personalised experiences for members and brokers.”
Teo Blidarus, CEO and founder of FintechOS, said: “Building societies are ambitious, member-focused institutions with strong lending fundamentals, and they deserve a technology partner that matches that ambition.
“Saffron is not waiting for a perfect moment to modernise.
“They are investing ahead of growth, putting the foundations in place now so they can scale lending, win broker relationships, and bring new products to market in weeks rather than months.”
Blidarus added: “The UK mutual sector is where some of the most exciting AI adoption in financial services is happening right now, and we are here to build with these institutions, not ask them to start again from scratch.”
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