IT software and services player Ergo has secured a €1m contract to deploy automated loan process technology for Springboard Mortgages.
The investment by Springboard Mortgages aims to leverage greater efficiencies at a challenging time for the financial services sector.
“We believe the specialist lending market is still very much in its infancy and chose to work with Ergo to build on the award-winning service that we currently provide our brokers and their customers,” said Liz O’Shea, chief operations officer, Springboard Mortgages.
Expert Lender provides a platform for the complete loan application process for Springboard’s network of 200-plus brokers, from application receipt through to electronic funds transfer or cheque issue. Based on sophisticated workflow technology, which was enhanced and customised to meet the needs of Springboard, it provides a data and document bridge to each broker’s existing system.
The automated loan process will help Springboard to differentiate itself from mortgage lenders bogged down in paperwork.
Expert Lender has a scanning and indexing component that captures paper-based loan documents and links them to electronic loan application records, making the whole process more streamlined and less time-consuming.
“The solution really benefits the broker and its customer,” said Marc Murphy, sales director, Ergo Software Solutions, “and helps Springboard continuously improve on its existing excellent customer service record.”
In its first 15 months of trading, Springboard has already been named ‘Specialist Lender of the Year’ by The Investor Magazine, and has won the Irish Mortgage Advisers Federation’s (IMAF) ‘Service Excellence Award’ for specialist lending in 2007.
By John Kennedy