The Origo platform is focused on speeding up the underwriting process and delivering speedier and stress free mortgages to borrowers using the power of artificial intelligence
Nottingham Building Society has partnered with MQube to incorporate MQube’s AI-driven mortgage origination platform into its current infrastructure.
The Origo platform is focused on speeding up the underwriting process and delivering speedier and stress free mortgages to borrowers using the power of artificial intelligence.
The platform leverages AI and machine learning to evaluate nearly 20,000 data points in real-time, enabling lenders to process mortgage applications in minutes.
Origo automates the entire underwriting journey, from application to completion, which will help NBS to provide a faster service, lower costs, reduce risks, and make strategic adjustments quickly and effectively.
By evaluating documents and data in real-time during the application, Origo’s dynamic question functionality only asks for information that it cannot source elsewhere, speeding up applications and reducing the back and forth between underwriters and clients.
The platform is already live and operating in the UK mortgage market with MPowered Mortgages and is regulated by the Financial Conduct Authority (FCA).
Paul Howley, chief technology and transformation officer at Nottingham BS, said: At Nottingham Building Society we are going through an exciting period of change as we focus on the question of what mutuality means in the modern world. In 2024, borrowers face potentially more challenges than ever before, and we are evolving our mortgage proposition to make sure we can really have an impact on growing homeownership and supporting a broader range of borrowers. To do this we will need to be innovative and embrace new technologies, and our partnership with MQube is a major step on the road to achieving that goal.
Stuart Cheetham, Chief Executive Officer of MQube, said: We are delighted to be partnering with Nottingham BS to help transform their underwriting process. At MQube, we are on a mission to make the mortgage journey better for everyone, by increasing speed and bringing certainty to borrowers faster.