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BancTec releases mortgage processing system

03 July 2006  |  2669 views  |  0 Source: BancTec

BancTec Limited, the financial systems and outsourcing specialist, today announced the launch of eFIRST Origin, a powerful and secure business system that supports the mortgage application life cycle, including FSA compliance.

eFIRST Origin is a new solution within BancTec's eFIRST suite, which offers a wide range of advanced document management, intelligent data capture and mobile point of sale facilities for loan processors. eFIRST Origin is based on SDS MAPS, the established market leading loan management solution from SDS Applications Limited, acquired by BancTec in November 2005. "The BancTec and SDS brands are both well known for quality and reliability in their respective markets. By integrating SDS Maps into the eFIRST product suite to create eFIRST Origin, BancTec is delivering unprecedented levels of functionality and support to the UK mortgage solutions marketplace," said James Silcock, Business Development Director of BancTec.

eFIRST Origin provides end-to-end solutions and web services to facilitate all types of mortgage and loan application processing, including flexible, commercial, first or second charge, equity release or reversion plans. Powerful, adaptable and easy-to-use workflow is used to automate repetitive processes, accelerate the mortgage application cycle and reduce costs associated with generating mortgage offers. Innovative solutions based on eFIRST Origin are installed in a very short timeframe, and are extremely easy to learn and use, enabling mortgage processors to implement systems quickly and seamlessly.

Developed using state-of-the-art web technology, eFIRST Origin offers exceptional support to introducer partners, including direct 24-hour access via the Internet, extensive product searches, automatic and fast generation of quotations and key facts illustrations, on-line completion of application forms, status tracking, real-time reporting and audit trails. Product rules can be applied at each stage of the application to ensure mandatory data collection, accurate underwriting and timely presentation of a Decision in Principle or formal mortgage offer.

"For more than 32 years BancTec has been a leading provider of financial solutions to the banking sector," said Silcock. "The addition of eFIRST Origin is a natural extension to our portfolio of business applications and solutions. It will enable us to grow our business throughout the financial services sector and offer more extensive services to both existing and new customers."

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