Unisys adds mortgage origination modules to financial services system
04 November 2005 | 4501 views | 0
Unisys, the global IT services company, today announced the launch of a major extension to its Unisys Financial Services Solution (UFSS), already a market-leading IT software offering.
The new Mortgage Origination modules, when deployed with UFSS, deliver the capability to manage end-to-end processing requirements of UK mortgage providers, with the ability to meet end-to-end Financial Services Authority (FSA) regulatory compliance on the system, an industry first in the UK when delivered by a single supplier.
Industry-leading features enable the solution to streamline mortgage origination for both applicants and providers, which should cut costs and speed up the process. These features will include online desktop valuations, online identification and verification, intelligent electronic forms and workflow orchestrated processes, which build flexibility into the solution.
The new Unisys Mortgage Origination modules complement UFSS and mean the overall solution can now manage "front office" mortgage application and acceptance requirements, such as sales and quotations, document production, credit checking, case tracking, valuations and references. This is in addition to the existing post-application and acceptance "back office" mortgage administration requirements that the solution has always managed, such as customer correspondence, interest calculations, arrears processing and securitisation.
"Unisys has operated in the UK mortgage market for over 100 years. Today UFSS underpins 20percent of the UK mortgage market, and we have a successful track record delivering solutions to mortgage providers including Cheltenham and Gloucester, Bradford and Bingley, West Bromwich Building Society and Alliance and Leicester. This heritage and experience has enabled Unisys to enhance its unique solution. We are well positioned to grow and innovate with our customers as we continue to invest and leverage Microsoft capabilities in this market space," according to Peter Axson, Head of Banking Operation Solutions, Unisys UK.
The Mortgage Origination Solution has been developed utilising the Microsoft .Net framework. UFSS can integrate with the suite of other Unisys Microsoft .NET-based solutions developed for the financial services space, including Transaction Manager and Appointment Manager.