Source: Parseq
Parseq, which specialises in mobile and online banking software and technology-led outsourcing services, announces today that it has signed a contract with Homeloan Management Limited, known as HML, to build and host the mortgage industry's first white-labeled online self-service platform for mortgage account holders.
The contract represents a pleasing strategic development for Parseq, being the first contract win for the Group's online banking software in the mortgage industry.
HML is a leading specialist financial outsourcer, managing approximately £43bn worth of mortgage assets for 45 clients across the UK, and handles customer enquiries on behalf of its clients for nearly 400,000 live mortgage accounts.
The new platform will enable HML to deliver a mortgage management tool for its clients' customers to view mortgage account details online including balance and last payment details, download commonly used forms, view FAQs and contact HML using secure messaging. The platform will also be upgraded later in 2011 to include an online payment facility. In addition, Parseq will host the solution, providing HML with a secure hosting environment that can be scaled to meet future demand via the Group's state-of-the-art data centre facility.
HML has already secured its first user for the self-service platform, Amber Homeloans.
Managing director for Amber Homeloans, Paul Fenn, said:
"Online banking has been available for many years so it is a logical step for the mortgage industry. HML's white-labeled service will be easy for us to integrate and will enhance our customers' experience. This consideration was vital to us taking on the service."
Neil Warman, chief commercial and finance officer at HML, said:
"We understand that our clients' customers want to access their mortgage accounts in a number of ways and an online service is a convenience that many now consider essential. Our white-labeled service gives our clients a fully branded website that improves the service experience for their customers."
Rami Cassis, Chief Executive Officer of Parseq, said:
"HML is our first mortgage client and it reflects the increasing number of enquiries that we are receiving from across the financial services sector seeking to use the online channel for more than just ttheir core banking products.
We expect to see demand for online self-service platforms to build as financial service providers seek ways to enhance engagement with their customers."