• Home
  • Visit
    • Plan your visit
    • Meet the team
  • Content
    • Key themes
    • Agenda
    • Related content
  • Speakers
  • Partners
    • Partners
    • Download Prospectus
  • REGISTER YOUR INTEREST
  • CO-LOCATED WITH:
  • Future Identity FinanceFuture Identity Finance

Fintech Talents

Fintech Talents

Kallyas is an ultra-premium, responsive theme built for today websites.

T (212) 555 55 00
Email: sales@yourwebsite.com

Your Company LTD
Street nr 100, 4536534, Chicago, US

  • Home
  • Visit
    • Who attends?
    • Experiences
    • Steering committee
    • Plan your visit
    • Meet the team
  • Content
    • Key themes
    • Agenda
    • Related content
  • Speakers
  • Partners
    • Sponsorship prospectus
  • Co-located events
  • REGISTER YOUR INTEREST

Content

STAY TUNED

Is open banking really changing the mortgage game?

by FTT Team / Tuesday 14 December 2021 / Published in Content
Mortgages

Open banking has had a huge impact on many areas of lending in the recent years. Faster and better informed decisions, a wider variety of products and greater customer approval are some of the benefits that open banking has achieved. But, as we sat down on the FTT Open Finance stage at the Fintech Talents Festival last month, the panel considered whether open banking really had been a game changer in the mortgage space so far.

Our moderator, Dharmesh Mistry from Ask Homey, opened the conversation by asking whether open finance really had helped the mortgage sector. Chris Pearson of HSBC commented that specific technologies will only come to the forefront if customers are open to adopting it. This is not happening as much as we may like to see and there is still a long way to go until open banking can fully innovate the mortgage process.

Another thing we must consider when analysing the impact of open banking, is its effect on different groups within society. It may have had a greater effect on someone who is unemployed or has a low credit score, but may not have had a significant impact on someone who is employed and considered as a traditionally attractive borrower.

Francesca Carlesi of Molo Finance put a positive spin on the conversation, asserting another side to the argument – if there’s one use case in which open banking should be used, then it is within mortgages. The mortgage space is unique in that it is one of the only areas in life where individuals accept that sharing more personal information is crucial and of real benefit for them.

Perhaps it’s unfair to say that there is no innovation in mortgages – Roland McCormack of TSB Bank points out that customers are already receiving on-demand service and often a decision in as short a time as 15-minutes. There has been a lot of focus on the decision-making process, but perhaps now it’s time to speed up the post-offer, conveyancing process.

In order to truly see the benefits of open banking, financial institutions need to build more flexible infrastructures, which can often be done quickly through partnering with fintechs. Joy Abisaab of Mast points out that flexibility is crucial to innovate the mortgage space.

Although slightly controversial, we can certainly say that the mortgage space is transforming to reflect a change in customer expectations. The panel also covered some of the key technologies which will be important in future innovation, such as blockchain and AI, as well as suggesting that a rebranding of “open” banking could push the mortgage space further into the 21st Century.

The conversation around mortgage innovation will be continued at FTT Lending 3.0 on 30th March, London.

The Panel:

Dharmesh Mistry, CEO, Ask Homey

Joy Abisaab, Co-Founder & CEO, Mast

Chris Pearson, Head of Intermediary Mortgages, Wealth and Personal Banking, HSBC

Roland McCormack, Mortgage Distribution Director, TSB Bank

Francesca Carlesi, Co-Founder & CEO, Molo Finance


Tagged under: Fintech Talents, Mortgage, Open Banking, Splash

Recent Posts

  • The fintech playbook: Navigating uncertainty – A must read Vox Pop report

    Our latest Vox Pop report couldn’t be better ti...
  • With 250+ already confirmed, check out the Rockstar Speakers joining the 5th edition of The Fintech Talents Festival, taking place at The Brewery in London on the 13th – 14th November

    Friday 22 September, London: The Fintech Talent...
  • Scenes from the Fintech Talents Road Trip: The Power of ChatGPT  

    The Fintech Talents team, along with our partne...
  • Scenes from the Fintech Talents Road Trip: Utilsing AI, not depending on it    

    The Fintech Talents team, along with our partne...
  • Scenes from the Fintech Talents Road Trip: Open finance for the customer experience   

    The Fintech Talents team, along with our partne...


  • Home
  • Fintech Talents events
    • FTT SME Banking 2023
    • Fintech Talents Festival 2023
    • FTT Mutuals 2023
    • FTT Lending 3.0 2024
    • Fintech Talents Road Trip 2024
    • Fintech Talents North America 2024
  • FTT Embedded Finance & Super-Apps events
    • Unboxing the Next Generation of Embedded Finance
    • FTT Embedded Finance & Super-Apps North America West Coast 2023
    • Customer Alpha North America West Coast 2023
    • FTT Embedded Finance & Super-Apps Europe 2024
    • Customer Alpha Europe 2024
    • FTT Embedded Finance & Super-Apps North America East Coast 2024
    • Customer Alpha North America East Coast 2024
  • Future Identity events
    • Future Identity Festival 2023
    • Future Identity Customer North America 2023
    • Future Identity Finance Europe 2024
    • Future Identity Customer Europe 2024
    • Future Identity Finance North America 2024
  • View all events
  • Content
    • All Content
    • Interviews
    • Opinion
    • Videos
    • Digital Reports
  • VC INNOVATIONS – Accelerated Marketing
  • facebook
  • linkedin
  • youtube
  • twitter

GET IN TOUCH

T 020 8004 5517
Email: info@vcinnovations.co.uk

LONDON
1 Quality Court, London WC2A 1HR
Open in Google Maps

NEW YORK
477 Broadway, 2nd Floor, Suite 1033, New York, NY 10013
Open in Google Maps

QUICK LINKS

  • Home
  • About VC INNOVATIONS
  • Events
  • FAQs

Connect with us

  • facebook
  • linkedin
  • youtube
  • twitter

RECENT POSTS

  • The fintech playbook: Navigating uncertainty – A must read Vox Pop report

    Our latest Vox Pop report couldn’t be better ti...
  • With 250+ already confirmed, check out the Rockstar Speakers joining the 5th edition of The Fintech Talents Festival, taking place at The Brewery in London on the 13th – 14th November

    Friday 22 September, London: The Fintech Talent...
  • Scenes from the Fintech Talents Road Trip: The Power of ChatGPT  

    The Fintech Talents team, along with our partne...
  • Privacy Policy
Fintech Talents

© VC Innovations 2018. All Rights Reserved.



TOP

This website uses cookies to give you the best experience. Agree by clicking the 'Accept' button. Read our Privacy Policy.