Strategic e-Mortgage Management System

Financial Services | Irish Commercial Bank

The Irish commercial bank has a long-established online presence on the mortgage marketplace, offering

top quality services to its customers. As the company grew its capabilities over time, it became apparent

that its existing online mortgage application required an upgrade in terms of functionalities.

Facing large risks in the mortgage field, it was vital for our client to ensure an exhaustive customer

experience through rigorous and efficient processes. The company recognised the need for a long-term

solution that would tackle the challenges of the legacy systems and could support a multi-brand strategy

to increase direct business.

The Business Context

Commerce Solutions Case Study

Working alongside a global leader in IT consulting,

iQuest set out to build a strategic eCommerce

platform for multiple channels and brands that

covers the most critical operations in mortgage

servicing.

The platform represents a strategic enterprise

integration and mortgage management system

that empowers mortgage intermediaries to enable

direct customers to create Key Fact Illustrations,

and submit for them mortgage Agreement in

Principle (AIP) documents and final applications to

the bank.

The new system was designed to allow direct

access to necessary procedures and was integrated

with an extensive suite of applications including

external mortgage builder applications and credit

scoring systems, the bank’s existing mortgage

repository, its CRM system and a quick address

service. This complex grid of systems required a

highly responsive service delivery which led to the

necessity of a complete rebranding of the direct

customer website. Acting as the main channel of

interaction with the bank’s offering, the website’s

The Solution

UI was fully revamped using load balanced web

servers and DB with clustered SQL servers.

Configurable end-user forms were set up in

order to automatically respond to changes in

the bank’s and the government’s mortgage

policies.

Seeking to trim the long cycle times and reduce

administrative workloads, the system allows

electronic submissions of full mortgage

applications. This enables registered brokers to

use the system to prepare KFI, submit AIPs and

mortgage applications.

The Mortgage Platform produces an

automated online Agreement in Principle,

subsequently obtaining a report from the credit

bureau used in the AIP decision. The automated

approval, or the referral of the case to a human

employee for the AIP, is determined through

rules defined by the bank credit policies. The

applications can be easily tracked by brokers as

they are handled electronically.

Financial Services | Irish Commercial Bank

The eMortgage Platform

is now offered directly to

retail clients seeking to

obtain a mortgage

without an intermediary.

In the meantime, the number of handled

applications has increased by up to 700 per

day, effectively doubling the retail lending

market without addition personnel in a short

period of time. The platform enables its users

to set up multiple mortgages for multiple

properties through a “Buy to Let” portfolio,

which provides a simpler way of managing data

bundles.

Being responsible for handling over 60% of the

group’s mortgage lending business, the

customer website was rebranded in order to

offer a more efficient channel of

communication with the bank’s mortgage

servicing. The system is now offered directly to

retail clients seeking to obtain a mortgage

without an intermediary.

Shortly after its release the website received the

5 stars award at the “Financial Adviser Service

Awards”, which includes the bank’s website in

an exclusive group of companies across the

financial services industry accredited with this

top service rating.

The eMortgage Platform has played a key role

in the pursuit of a strategic channel for service

delivery. By creating an online mortgage

management system, our client gained a

competitive advantage and maintained their

position on the financial market as a proactive

and reliable partner for their customers.

Commerce Solutions Case Study

The bank’s great tradition of responding to

customer needs in a genuine and reliable

manner has set a framework to how the

solution was built and ultimately to its

immediate results. A high degree of

transparency and constant communication

between all three parties ensured a smooth

progress and delivery of this complex project.

Through the new set of functionalities, the

strategic eMortgage Management System

enhanced the bank’s profitability by attracting

an increasing number of customers with

reduced acquisition costs. Faster service

deployment led to over 40,000 registered

brokers and direct customers regularly using

the website, meaning that 80% of intermediary

business is received and managed

electronically. Brokers benefit from immediate

access to AIP and full applications, being able

to view the progress of a case online

throughout its lifecycle. They are also able to

pre-populate an application from data already

collected in other legacy systems and add new

call centres and brands to the Mortgage

Trading Exchange.

The eMortgage application simplifies the

management of online forms, broker and

product maintenance, reducing the

administrative workload and causing the time

to offer a formal mortgage to a customer drop

from 10 to 5 days.

The Business Impact

Key Benefits:

Short-term doubling of retail

lending market with no

additional personnel

Financial Times 5-star award at

the 2007 and 2008 “Financial

Adviser Service Awards”

Reduced customer acquisition

costs

Over 40,000 brokers and direct

customers

Financial Services | Irish Commercial Bank

Copyright 2015, iQuest Group. All rights reserved. All rights reserved. No part of this document may be reproduced, stored in a retrieval system,

transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the express written permission from

iQuest. All other product names, service marks, and trademarks mentioned herein are trademarks of their respective owners.

iQuest is an independent, global IT services and solutions provider that for more than 17 years has been delivering

first-class software solutions to leading companies in Life Sciences, Telecom, Transportation, Financial Services, and

Energy. With a growing international presence, iQuest provides a full range of software development services,

integration services, and software products, all of which rely on the latest commerce, cloud, big data, and analytics

platforms.

Headquartered in Germany, iQuest currently employs more than 600 people, distributed across delivery centers in

Romania, as well as local and affiliate offices in Europe, the US and Asia.

www.iquestgroup.com

About iQuest

Our client is an Irish commercial bank. The company provides a broad range of banking, life insurance and financial

services in Ireland and UK to the personal, commercial, industrial and agricultural sectors.

About the Client

For more information on this project, please contact:

business@iquestgroup.com