Temenos, a noteworthy name in the banking industry, has rolled out a comprehensive, AI-fueled mortgage solution aimed at transforming how lenders provide services to their clients. This innovative software offers an amalgamation of smart decision-making capabilities and an explainable AI-driven platform, designed to enhance digital mortgage experiences, cut costs, and trim the time required for loan closure.
The novelty of the solution is in its capacity to improve productivity and lower delinquency rates among lenders. This is achieved through its combination of AI-assisted affordability assessments and streamlined workflows, fostering prudent decision-making processes that are both transparent and comprehendible.
Temenos Digital Mortgages takes the concept of customer satisfaction to a new level. By implementing a partner ecosystem model, borrowers are treated to a hyper-personalized experience at every interaction point, leading to a seamless customer journey.
In the current climate of fluctuating interest rates, reducing time to close has become an important aspect of the customer experience. This advanced solution supports customers during these uncertain times, helping them meet real estate contracts or rate lock periods, thus facilitating property acquisition and mortgage affordability.
The software is highly adaptable, serving a wide range of financial institutions, from banks of all sizes, building societies, and credit unions seeking to enhance their offerings, to fintech companies and challenger banks aiming to break into the mortgage market.
Lenders have the option to implement the entire pre-configured solution to expedite market entry or integrate individual components into their existing infrastructure via APIs. Moreover, the low-code design of business rules and workflow configuration allows lenders to adjust the product to fit different regulatory and credit requirements.
Being cloud-native, the solution can be deployed in a lender’s own data centers, any public cloud, or as a Software-as-a-Service (SaaS) on Temenos Banking Cloud. This flexibility empowers lenders to launch and scale up services rapidly, catering to the dynamic demands of the mortgage market.