Nottingham Building Society has announced a partnership with GDS Link, to enhance its decision-making capabilities and credit assessment process for its mortgage business.
The partnership is part of the Society’s ongoing investment strategy to develop its digital capability to match changing customer expectations. This strategy has also seen the Society deliver new online savings brand Beehive Money, become the only provider to offer the Lifetime ISA savings product both in branch and online and has a new online portal for its mortgage-broker community in the pipeline for 2019.
Deciding whether to lend to a customer can mean the difference between getting the keys to a house or not. Underwriters all over the world use their experience and software systems to assess customer information, credit information, and scorecards to decide whether to offer funding.
For an underwriter, using software with multiple data sets presents a massive opportunity. Having access to – and utilising – data from internal and external sources (including credit reference agencies) provides the ability to assess risk faster, more accurately and deliver more informed decisions. Doing this means applicants can be confident that decisions are fair and based on their individual circumstances.
Daniel Mundy, Finance Director at The Nottingham, said “One of our founding principles was helping people to put a roof over their heads. 170 years later, we remain as committed as ever to helping new generations find and fund their home and continually invest in the people and systems to do that faster and smarter, in a fair and responsible way.”
“We know how stressful buying a house can be so having a best-in-class credit assessment for our mortgage customers is hugely important. We were really clear on our need for a high-powered decision engine that utilises data sets, rules, and external input to complement our existing systems and qualified underwriters. DataView360 ticked all the boxes and GDS Link’s expertise, understanding, and technical support structure were a good fit for The Nottingham.”
GDS Link’s UK Managing Director Keith Hale said “Naturally, we are delighted to be working with The Nottingham on this exciting project. Our respective teams have quickly formed a great working relationship built on mutual trust which has allowed for rapid progress. We look forward to a long and successful partnership, adding value to both organisations”.