Leek United Building Society chooses QTS for new online mortgage project

Source: QTS

QTS, the market-leading supplier of online and mobile banking systems to building societies, has announced the launch of a significant multi-phase project with its new client, Leek United Building Society.

Leek United has chosen QTS to provide a fully-hosted new system, which will allow the Society to offer complete online access, starting with online mortgage applications, for both direct and broker-originated channels. The system will give the Society online lending capability to manage the complete process from initial KFIs to applications and progress tracking. Online access will give Leek United’s intermediaries more control and flexibility, allowing the Society to widen its reach in the most efficient way.

In addition to this suite of online mortgage provision, the project will also include full online account administration and enquiry capabilities with the QTS account management product, Q-View. This will give the Society a complete self-service channel, allowing both mortgage and savings account enquiries and administration. Finally, Leek United will also be the first UK building society to use QTS’s new Tranche Management system.

This innovative new product has been designed to mitigate the financial and operational risk associated with launching highly competitive products in a 24:7 environment. The system will monitor applications and illustrations submitted online, advising the Society proactively of incoming values and volumes, and issuing notifications when limits are being approached, reached or exceeded.

Commenting on the project, Leek United Building Society Operations Director, Tony Hubbard, said “Our customers’ expectations are changing as quickly as the competitive landscape and it is important that we keep pace with this new environment. The QTS system will enable us to support a multi-channel distribution strategy whilst eliminating many of the manual processes that exist at present. The development of the new Tranche Management system will enable us to manage our mortgage volumes in a controlled manner. We look forward to working with QTS during this period of significant investment and change.”

Garry Williams, Managing Director of QTS, said “It’s a pleasure to welcome Leek United Building Society as our newest client, and the first to be announced in 2015. This is a major project for the Society and will allow it to attract and retain more customers, while integrating seamlessly into existing business systems. I’m confident that this investment will deliver increased performance and return on equity through their online channel, and look forward to building a strong working relationship with the team.”
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