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Marlborough Stirling releases compliant mortgage PoS processing system

19 February 2004  |  638 views  |  0

Financial services solutions provider Marlborough Stirling today announces the launch of a new 'regulation ready' version of its Omiga mortgage point-of-sale and application processing solution.

Omiga can be used across all distribution channels - broker and intermediary, branch, call centre and internet - to provide consistent and efficient straight through processing from each channel through to the lender's processing centre.

By using a single solution across many different distribution channels lenders can reduce their investment in technology and offer consumers the flexibility of changing the way they engage with the lender during the sales process. In the intermediary sector Omiga can be used by both sourcing engines or directly via a lender's website.

At the point-of-sale Omiga enables the production of compliant electronic Key Facts Illustrations (KFIs), decisions in principal, electronic applications and case tracking. This can integrate seamlessly with the application processing module that handles processes such as credit checking, payments and underwriting and then manages applications through to completion.

Over the years Omiga has been proven to deliver significant business benefits to lenders. For example, one top ten lender increased their lending by well over 500% between 2002 and 2003 while reducing their processing costs as a result of implementing Omiga.

Phil Heaton-Jones, head of mortgage product management and consulting, comments: "With its compliant point-of-sale processes and the ability to accept new business electronically from multiple distribution channels, Omiga is a long term strategic solution that will give lenders real competitive advantage pre and post regulation."

"Omiga is a proven and well-established solution within the mortgage market having supported the operations of 14 different lenders to date. It also provides the technical infrastructure for Marlborough Stirling Mortgage Services (MSMS), our mortgage outsourcing operation. Together, Marlborough Stirling and its clients have invested over £30 million in Omiga over the last 10 years."

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