Ahead of the launch of an innovative new buy-to-let platform, Shawbrook has been working with its key strategic partners, including Brightstar, to trial the new technology. This is the first in a series of announcements from Shawbrook Bank on how they are improving customer experience.
The new platform aims to streamline the entire application process for brokers by using the most up-to-date technology.
Applying advanced decisioning techniques and sophisticated insights via API technology, the new system will provide a quicker and more intuitive journey to credit decisions and property valuations, where eligible.
New technology in action
While testing the new platform, a new case was submitted for consideration. All third-party checks were automatically carried out as part of the application in principle (AIP) process, significantly reducing the requirements of the underwriting team. An instant IMO was then generated, alongside a successful automated property valuation (AVM). The introducing broker swiftly provided the necessary documentation required for a formal offer. From submitting an AIP to the offer being issued, the process took 48 hours.
Emma Cox, Sales Director at Shawbrook Property Finance comments:
“Over the last twelve months we have been investing heavily in the technology we rely on behind the scenes to help deliver the best possible service to our customers. The launch to our strategic partners has already demonstrated the benefits these improvements will have for them and their introducing brokers. This is just the start of a series of digital enhancements that we will be announcing in 2021 to improve broker experience and ensure a more efficient application journey for our customers.
For more details on Shawbrook’s buy-to-let offering, please contact the Brightstar team on 01277 508 959
FOR INTERMEDIARIES ONLY AND NOT INTENDED FOR THE GENERAL PUBLIC