Skipton Building Society has adopted Experian’s Open Banking technology to give customers the opportunity to process mortgage applications using open banking. The lender said the move would reduce the time taken to go through applications from two weeks to just a few minutes. Lisa Fretwell, managing director of data services at Experian, observed: “It’s not just a time-consuming process for people, lenders, too. Open banking provides them with reliable data which can be analysed at speed to make more informed lending decisions.” Skipton’s head of mortgages Alex Beavis said the deal would combine the company’s human touch with new digital technological benefits, as he predicted further enhancements for customers going forward.
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Providing insight into technology and innovation in the legal, accountancy property and consultancy sectors. Alternative Insights brings together news, commentary and thought leadership about digital transformation across the entire professional services industry. We collate industry stories on innovation, technology and transformation in the legal, accountancy, management and property consultancy sectors, giving you access to the latest thinking about tech and innovation in the professions.
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