UK startup Atom Bank is to be the first client for a re-engineered mortgage origination platform designed to meet the needs of digital challenger banks by Iress
Atom Bank is laying down the gauntlet to traditional high street competitors by building an online bank capable of handling customer interactions from end-to-end in a purely digital format.
The bank has already contracted with Intelligent Environments for its mobile apps, and FIS for a streamlined back office, and now becomes the first client to implement the latest version of Iress’ MSO product, which has been re-engineered to meet the digital demands of challenger banks and regional building societies, alongside traditional high street lenders.
MSO will provide Atom with sales and originations functionality to provide straight-through processing and workflow automation for its mortgage platform, from scan and attach at point of sale to automated offer production for intermediaries.
Encompassing a responsive Web design for multi-device access, MSO will be implemented as a managed service, freeing Atom from expensive investment in infrastructures and ongoing maintenance and support.
Speaking from the bank’s Durham HQ, Atom mortgage lead Maria Harris says: “MSO will underpin our business vision and allow us to deliver this within our desired timescales and budgets."