The service allows packagers and lenders to outsource the administration and maintenance of comprehensive mortgage product data, including fully codified product rules that facilitate automated underwriting.

BancTec Managed Services enables packagers and lenders to rapidly search the market for products that best meet customers' individual needs, in compliance with FSA regulations. Accurate, regulated key facts illustrations for the entire range of lenders' and packagers' offerings, including sub-prime and non-regulated products such as buy-to-let and equity release, are generated in an instant.

Upon payment of an initial set-up charge and ongoing maintenance fee packagers and lenders are immediately relieved of the immense, costly and time-consuming burden of regularly updating the product databases they rely on to match available products with customer requirements.

For many years BancTec has delivered effective outsourced services to a wide variety of financial services organisations, according to stringent, pre-defined service level agreements. "BancTec's experience in managing large-scale, high-volume document and data management projects, specifically in the financial sector, has enabled us to identify this service as one that offers tangible benefits to packagers and lenders operating in the mortgage sector," commented James Silcock, Business Development Director of BancTec.

"Our clients are saving money, providing accurate, up-to-date information to their customers and prospects in a timely manner, offering a more competitive service and releasing resources to focus on providing outstanding customer service. Ultimately they are in a better position to offer the best mortgage solution to meet individual customer requirements." stated Silcock.