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TSB signs up with new Iress technology

TSB has become the first major lender to adopt Lender Connect mortgage broker technology from Iress.

The platform is said to improve efficiencies by creating a frictionless journey when going through brokers.

TSB has been looking to recover in 2019 after suffering a much publicised IT meltdown in 2018 which cost the bank £330m.

Roland McCormack, TSB’s mortgages director said: “There has been lots of talk about how tech can deliver a streamlined end-to-end process. We believe 2020 will be the year that two-way connectivity really gains traction, and TSB is committed to supporting our broker partners.

“We’re delighted to announce our adoption of Iress’ Lender Connect technology, enabling integrated brokers to transfer all relevant customer data direct from their CRM systems into TSB Mortgage Pro at a touch of a button, saving the need to rekey.”

Lender Connect technology allows decisions in principle to be made much faster.

Data is shared through API integrations via lender broker portals and distributor CRMs, removing the need to rekey data and vastly reducing error rates.

Andrew Simon, executive general manager of product at Iress said: “This announcement is a huge leap forward for the mortgage industry.

“We are really pleased to launch our Lender Connect mortgage technology with TSB, one of the UK’s leading lenders, which appeared in over one million individual sources on Iress mortgage research software in quarter three this year.

“This announcement marks a major step for Iress in its commitment to achieving mortgage connectivity for the market and builds on our strategic commitment to make it easier to write mortgages.

“Upon launch, those brokers who use Xplan Mortgage, Xplan and Trigold will be able to use the technology, as well as any broker CRM that integrates with Iress Lender Connect, to connect seamlessly to TSB’s broker platform.”