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


Content

STAY TUNED

Computer Says No – But Trained Mortgage Advisors Can Still Say Yes

by Laura Camplisson / Tuesday 17 November 2020 / Published in Community & Events, Content, Featured, Fintech, FinTECHTalents, Innovation
the changing landscape of lending

At FTT Building Societies on 21st October, Alex Beavis, Head of Mortgage Products at Skipton Building Society and Matt Lowndes, Innovation Director at the Mortgage Advice Bureau discussed the Changing Landscape of Lending. In this fireside chat they talked about the potential impact of everything from Machine Learning to Distributed Ledger, to Open Banking and Speech Analytics, in shaking up the long unchanged mortgage process.

It became clear that the ability to make very human assessments and see each customer as unique, is a great strength of the Building Society model. It is likely that many customers will come to a mortgage advisor because their situation is not clear-cut. This is why Building Societies are looking to use technology as an enabler, rather than a replacement. If the tech can take on tasks such as document collection, data entry and categorising expenditure, this makes more time for underwriters to prioritise complex cases. In Alex’s words, “If the computer does say no, we have people there to take a look at your case too.”

Open Banking has been widely predicted to have a significant impact on the lending process. There could be huge value for Building Societies looking to adopt Open Banking for eligibility assessments. They would work alongside trained mortgage advisors and create a better journey for customers, brokers and lenders. But both Matt and Alex agreed that there is still a long way to go before the true potential can be realised.

In order to improve the journey for borrowers, it would need to be adopted at every stage of the mortgage process. As Matt Lowndes noted, there is no use in an intermediary utilising Open Banking to get a customer’s income and expenditure information if they later have to provide bank statements to meet the lenders requirements.

But adoption also needs to come from the customer side, and Alex Beavis recalled that when Skipton adopted Open Banking for decision making this wasn’t the case. From a lender perspective it allowed for quicker and more accurate affordability assessments, but customers didn’t trust or understand the value of giving access to their information in this way. Until customers readily embrace Open Banking as an option, the mortgage decisioning process will continue to rely on physical documentation.

Discover more about the promises and pitfalls of Open Banking at FTT Virtual Open Finance on 9th December.

Watch the full recording of this session ‘The Changing Landscape of Lending’ below.


Tagged under: #FTTBuildingSocieties2020, Building Socieites, FinTECHTalents, Mortgages, Open Banking, Splash

Recent Posts

  • Empowering Members, One Loan at a Time: A Conversation with Ciara Davies, CEO of Metro MoneyWise Credit Union

    Who says that credit unions can’t innovat...
  • Lending through change: A conversation with Simon Taylor, Melton Building Society

    Data, niches, and AI: Simon Taylor on the evolu...
  • Registration now open for the 2025 edition of the FTT Fintech Festival

    2nd June 2025, London: Registration for the 202...
  • From complex to seamless: A chat with Roger Vincent, Bourn

    Built for growth, designed for simplicity At FT...
  • Smarter lending through open banking: A chat with Matthew Barr, Moneyhub

    Empowering lenders with real-time insights: The...


  • Home
  • Call for speakers
  • View all events
  • Fintech Talents events
    • FTT Fintech Festival 2025
    • FTT AI Transformation 2025
    • FTT Mutuals 2025
    • Breakfast briefing: Lending with intelligence 2025
    • FTT Financial Services Futures 2025
    • FTT Lending 2026
    • FTT Payments 2026
    • Fintech Talents Road Trip 2026
    • Fintech Talents North America 2026
  • FTT Embedded Finance & Super-Apps events
    • FTT Embedded Finance & Super-Apps Europe 2026
    • Customer Alpha Europe 2026
    • FTT Embedded Finance & Super-Apps North America East Coast 2026
    • Customer Alpha North America East Coast 2026
    • FTT Embedded Finance & Super-Apps North America West Coast 2026
    • Customer Alpha North America West Coast 2026
  • Future Identity events
    • Future Identity Festival 2025
    • FID Fraud & FinCrime – Fall Europe 2025
    • Future Identity Finance Europe 2026
    • FID Fraud & FinCrime – Spring Europe 2026
    • Future Identity Customer Europe 2026
    • FID Fraud & FinCrime – Summer Europe 2026
    • Future Identity Finance North America 2026
    • Future Identity Customer North America 2026
  • Past events
    • Fraud prevention & customer experience webinar 2025
    • Open Finance & Consumer Duty webinar 2024
    • FTT SME Banking 2023
    • Unboxing the Next Generation of Embedded Finance 2023
    • FTT AI Transformation webinar 2024
  • Content
    • All Content
    • Interviews
    • Opinion
    • Videos
    • Digital Reports
  • VC INNOVATIONS – Accelerated Marketing

GET IN TOUCH

T +44 203 835 2829
Email: marketing@vcinnovations.co.uk

LONDON
85 Tottenham Court Road, London W1T 4TQ
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
  • LinkedIn
  • Twitter
  • YouTube
  • Instagram

RECENT POSTS

  • Empowering Members, One Loan at a Time: A Conversation with Ciara Davies, CEO of Metro MoneyWise Credit Union

    Who says that credit unions can’t innovat...
  • Lending through change: A conversation with Simon Taylor, Melton Building Society

    Data, niches, and AI: Simon Taylor on the evolu...
  • Registration now open for the 2025 edition of the FTT Fintech Festival

    2nd June 2025, London: Registration for the 202...
  • Privacy Policy

© VC Innovations 2018. All Rights Reserved.



TOP
 
SAVE £700 WITH THE SUPER EARLY BIRD BEFORE 4th JULY
BOOK TODAY
 
 
SAVE £700 WITH THE SUPER EARLY BIRD BEFORE 4th JULY
BOOK TODAY
 
 
SAVE £700 WITH THE SUPER EARLY BIRD BEFORE 4th JULY
BOOK TODAY
 
Manage Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}
Manage Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}
Get involved


FTT Payments 2025 - Download previous attendee list


Download now


Press & Media Pass


Get involved



FTT Mutuals 2025 - Download previous attendee list


FTT AI Transformation 2025 - Download previous attendee list


Get involved


Get involved