Case Studies Accord streamline application process with MATS®

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	Accord streamline application process with MATS®

Accord streamline application process with MATS®

Technology Category	Application Infrastructure & Middleware - API Integration & Management Application Infrastructure & Middleware - Data Exchange & Integration Platform as a Service (PaaS) - Connectivity Platforms
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation Sales & Marketing
Use Cases	Process Control & Optimization Regulatory Compliance Monitoring Remote Collaboration
Services	Cloud Planning, Design & Implementation Services System Integration
Challenge	Accord first implemented MATS in 2008 as a workflow solution for mortgage application processing. As Yorkshire Building Society grew, Accord became the central processing hub for the group, and the use of MATS spread to handle mortgage applications for YBS and their subsidiary Chelsea Building Society. Further improvements of processing speed and efficiency were needed to scale the operation. Customer experience needed to become a competitive advantage, because brokers were looking not just for the best rates and terms, but for the quickest and most precise execution. Elimination of postal and paper handling delays was a key opportunity for process improvement. Read More
About Customer	Accord is a central processing hub for Yorkshire Building Society (YBS) and its subsidiary Chelsea Building Society. Since its implementation of MATS in 2008, Accord has become a pivotal player in the UK mortgage market. The company has grown significantly, tripling its market share since 2010. Accord's primary focus is on improving the mortgage application process, making it faster and more efficient for brokers and their clients. The company has received several awards, including 'Best Advisor Only Lender' from What Mortgage and 'Innovator of the Year' from Moneywise, highlighting its commitment to excellence and innovation in the mortgage industry. Read More
Solution	The MATS document upload facility had been implemented for banks such as Santander, so Accord was confident that this was a proven solution. Internal IT constraints and the need to provide connectivity to thousands of brokers meant that a Cloud deployment of MATS was the right approach. In less than 3 months from initial sign off, MATS was in full deployment and integrated with Accord’s eCommerce and legacy systems. Brokers are now able to immediately upload proof of address and other documents electronically, on behalf of their customers. Brokers now have real-time visibility of application status, and automated alerts with respect to required actions, enabling them to offer their clients a faster and more efficient service. Read More Log in to view content
Contents

Technology Category

Application Infrastructure & Middleware - API Integration & Management

Application Infrastructure & Middleware - Data Exchange & Integration

Platform as a Service (PaaS) - Connectivity Platforms

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Sales & Marketing

Use Cases

Process Control & Optimization

Regulatory Compliance Monitoring

Remote Collaboration

Services

Cloud Planning, Design & Implementation Services

System Integration

Challenge

Accord first implemented MATS in 2008 as a workflow solution for mortgage application processing. As Yorkshire Building Society grew, Accord became the central processing hub for the group, and the use of MATS spread to handle mortgage applications for YBS and their subsidiary Chelsea Building Society. Further improvements of processing speed and efficiency were needed to scale the operation. Customer experience needed to become a competitive advantage, because brokers were looking not just for the best rates and terms, but for the quickest and most precise execution. Elimination of postal and paper handling delays was a key opportunity for process improvement.

About Customer

Accord is a central processing hub for Yorkshire Building Society (YBS) and its subsidiary Chelsea Building Society. Since its implementation of MATS in 2008, Accord has become a pivotal player in the UK mortgage market. The company has grown significantly, tripling its market share since 2010. Accord's primary focus is on improving the mortgage application process, making it faster and more efficient for brokers and their clients. The company has received several awards, including 'Best Advisor Only Lender' from What Mortgage and 'Innovator of the Year' from Moneywise, highlighting its commitment to excellence and innovation in the mortgage industry.

Solution

The MATS document upload facility had been implemented for banks such as Santander, so Accord was confident that this was a proven solution. Internal IT constraints and the need to provide connectivity to thousands of brokers meant that a Cloud deployment of MATS was the right approach. In less than 3 months from initial sign off, MATS was in full deployment and integrated with Accord’s eCommerce and legacy systems. Brokers are now able to immediately upload proof of address and other documents electronically, on behalf of their customers. Brokers now have real-time visibility of application status, and automated alerts with respect to required actions, enabling them to offer their clients a faster and more efficient service.

Impact #1	The appropriate case manager now receives paperwork within a matter of minutes, which had previously taken several days to arrive by post.
Impact #2	The system is handling around 90,000 documents per year. Communication between Accord and brokers has been dramatically improved.
Impact #3	Brokers now have real-time visibility of application status, automated notification of progress, and task alerts. Annually over 380,000 notifications are now totally automated.

Impact #1

The appropriate case manager now receives paperwork within a matter of minutes, which had previously taken several days to arrive by post.

Impact #2

The system is handling around 90,000 documents per year. Communication between Accord and brokers has been dramatically improved.

Impact #3

Brokers now have real-time visibility of application status, automated notification of progress, and task alerts. Annually over 380,000 notifications are now totally automated.

Benefit #1	Accord’s share of the UK mortgage market has grown from 2% to 6% since 2010.
Benefit #2	The system is handling around 90,000 documents per year.
Benefit #3	Annually over 380,000 notifications are now totally automated.

Benefit #1

Accord’s share of the UK mortgage market has grown from 2% to 6% since 2010.

Benefit #2

The system is handling around 90,000 documents per year.

Benefit #3

Annually over 380,000 notifications are now totally automated.

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Overview

Accord streamline application process with MATS®

Operational Impact

Quantitative Benefit