Monmouthshire Building Society today announces a new partnership with MQube, a mortgage technology provider.
The Society will adopt MQube’s AI-powered mortgage origination platform, “Origo”, as part of a strategic move to enhance service delivery, cut processing times, and support more borrowers with faster, simpler mortgages.
Using advanced artificial intelligence and real-time data analysis, “Origo”, instantly reviews a broad range of financial, credit, and property data. This allows Monmouthshire Building Society to process mortgage applications far more quickly than traditional methods, cutting decision times from days to minutes.
This move comes as Monmouthshire Building Society continues its transformation journey. The integration of Origo will help the mutual stay agile in an evolving mortgage landscape, delivering more consistent decisions and reducing the friction borrowers and intermediaries often face.
By asking only the questions that can’t be answered through other data sources, Origo also minimises repetitive document requests and back-and-forth with underwriters, improving the experience for brokers and customers alike.
MQube’s team is working closely with Monmouthshire Building Society to tailor the platform to its unique needs, ensuring seamless integration with its systems and processes.
The platform is already live in the UK with MPowered Mortgages who introduced the one day mortgage earlier this year.
Will Carroll, Chief Executive Officer at Monmouthshire Building Society, commented: “At Monmouthshire Building Society, we’re committed to using technology to deliver better outcomes for our members. Borrowers today expect not just great service but also speed and certainty and we’re determined to deliver on all fronts. Our partnership with MQube gives us access to cutting-edge technology that will help us simplify the mortgage journey while reducing costs and risk. It’s a key step in our ongoing journey to be a modern mutual that truly puts members first.”
Stuart Cheetham, Founder and CEO of MQube, added: “We’re thrilled to welcome Monmouthshire Building Society to the Origo platform. As more lenders embrace AI and automation, it’s great to see a forward-thinking mutual leading the way. Origo is already powering faster mortgages at MPowered and we’re excited to help Monmouthshire bring those same benefits to their customers and brokers. We look forward to supporting them on their journey and continuing to help reshape the mortgage industry for the better.”