Iress has announced that Coventry Building Society is the latest lender to join Lender Connect, its API-based integration platform designed to streamline the mortgage application process by reducing rekeying and speeding up submissions.
The move follows what Iress described as “strong broker demand” for Coventry Building Society’s full suite of residential and Godiva-branded buy-to-let products to be made available through the platform, which pre-populates application data captured during advice and sourcing.
Lender Connect, which can be accessed through Iress’s Xplan Mortgage and Trigold systems, allows brokers to submit decisions in principle and full applications up to 20 minutes faster per case by eliminating duplicate data entry. Coventry now joins a growing list of participating lenders including Nationwide, Accord, TSB, Leeds Building Society, Principality and Darlington.
Jacqueline Durbin, head of product – sourcing at Iress, said: “Once you’ve experienced a streamlined process, one that saves you a significant amount of time and effort in your day-to-day work, it’s hard to go back to doing mortgage applications the ‘old way’. That’s why we’re seeing increasing demand from brokers to add specific lenders like Coventry Building Society to Lender Connect. By joining Lender Connect, Coventry Building Society will benefit from providing an improved digital mortgage journey with faster processing time and improved data accuracy, so it really does benefit everyone all round.”
Kevin Purvey, director of mortgage distribution at Coventry Building Society, added: “Over the past few years, we have invested significantly to improve the journey for our broker partners, primarily by moving our mortgage platform to MSO. This has yielded meaningful time savings for all, and we are regularly seeing instances of same day offers. Partnering with Lender Connect was a natural next step in building out our digital journey which supports broker demand and removes the need to rekey essential information to secure a DIP decision.”
Lender Connect also enables integration with external advice software or lender portals, and Coventry’s range is already accessible through L&C Mortgages, the UK’s largest fee-free broker.
Simon Hendy, chief relationship officer at L&C, said: “We were an early adopter of Lender Connect, so we were delighted to be able to help pilot the addition of Coventry and test in a live environment. This is a time-saving tool that enables our teams to avoid re-keying errors and to submit applications more quickly and efficiently. The addition of Coventry to the expanding list of lenders using Lender Connect will only enhance the value to us.”
