The fully transactional Web site, based on Eontec's J2EE-compliant Financial Components enables the society's customers to undertake full mortgage application processing online, from initial inquiry and quotation to online approval. Online credit bureau checking and an automated rules engine means the `approval in principle' decision can now be delivered in seconds, says Linda Will, head of e-commerce at the UK society.

"The volume and value of business generated by the deployment of Eontec's Lending Module has been impressive," she says. "The comprehensive Web functionality and full transactional capability, including automated application, upfront quotation and approval in principle, has transformed our mortgage processing capabilities. The improvements in efficiency mean a massive reduction in operating costs."

In the first ten days of operation, the site generated business potentially worth £20m, says Will. According to Yorkshire's own statistics, the average value of a mortgage requested over the Internet is almost double when compared to its branches.

The site also operates as a de facto business-to-business channel for lending partners, with agents such as Legal and General are using the system to process new mortgage business.

The revamped Web site is only the first stage of the society's technology strategy. Says Will: "Our strategy is to integrate all points of contact within the company so channels will be readily available to customers...Eontec has helped us to lay the foundation for future services through reusable Financial Components that can be harvested, rather than having to carry out subsequent IT developments for each new product design."