Brokers can now submit complex cases in minutes thanks to the launch of a new digital platform by Bluestone Mortgages.
The platform, called Bluesky, makes the application process more efficient and eliminates the need to rekey data. As a result the lender has been able to halve its application to offer time from 17 days to eight days.
Benefits of Bluesky include:
- Automated credit reports which provide a credit decision much earlier in the process
- Integration with Bluestone’s open banking which can accurately gather household expenditures within minutes
- Expenditure information automatically pulled through from a customer’s credit file to save time in the keying in process.
The platform has been rolled out to the whole market following a successful six week pilot with Bluestone’s sapphire partners.
Mortgage packager 3MC director Doug Hall comments: “The application to completion journey for a specialist case has traditionally been a lengthy and burdensome task. Bluestone’s new platform has completely revolutionised this process, speeding up the application journey and ultimately resulting in better customer outcomes.
“Through the platform we have been able to provide an application to completion in just 21 working days, an outcome we never thought previously possible.”
Bluestone mortgages sales and marketing director Reece Beddall adds: “We hope that by launching this platform we can encourage a greater uptake of open banking, to not only speed up the application journey for complex cases, but provide better outcomes for the end customer.”
Last month it was announced that Bluestone Mortgages has been bought by Shawbrook bank in a cash and share deal for an undisclosed sum.
