Belfast-based Progressive Building Society is implementing Initiate and Activate, the mortgage illustration and application processing modules of the Summit retail banking solution from Lynx Financial Systems.
The Society plans to process mortgage applications through the system across its eleven branches by January 2004.
The modules will replace a stand-alone system and automate existing paper-based mortgage applications processing, from initial customer enquiry and quotation through to completion.
Lynx says the system will enable the Society to provide consistent customer service across all branches, and will also deliver improved reporting and enhanced facilities to introducers. In addition, the reduction in paper-based administration will enable the Society to process more mortgage applications without increasing staff.
Tommy O'Neill, head of IT at the Progressive, says: "If we are to achieve our projected growth targets within an environment of high mortgage volumes, it's necessary to automate the paper-based mortgage application process."