In a groundbreaking development for the UK mortgage market, 10x Banking, a leading SaaS core banking platform, has teamed up with Mast, a specialist in cloud-native mortgage origination, to enable real-time servicing for UK mortgage providers. This partnership represents a pivotal shift in the industry, promising to streamline operations and elevate customer experiences.
Transforming Mortgage Operations
Integration for Efficiency
The core of this partnership lies in the integration of 10x Banking’s and Mast’s systems through an API guide provided on 10x Docs. This guide offers a straightforward path for UK mortgage lenders to integrate their systems, covering various scenarios specific to the UK mortgage market, including product creation and account onboarding. The integration is designed to facilitate seamless data exchange, enabling real-time mortgage servicing and eliminating the need for manual re-keying of data between systems.
Operational Excellence
This collaboration aims to unlock new levels of operational efficiency for UK lenders. By providing a cloud-native interface, the partnership ensures a more dynamic and responsive operational framework. This is particularly crucial in the mortgage industry, where speed and accuracy are paramount.
The Implications for the Mortgage Market
Enhanced Customer Experience
One of the most significant impacts of this partnership is on customer service. By streamlining data exchange and servicing processes, the collaboration between 10x Banking and Mast is set to deliver exceptional customer experiences. This improvement is expected to be a major differentiator in the highly competitive mortgage market.
Market Transformation
The partnership is a key milestone in transforming the UK mortgage and building societies markets. By leveraging cloud-native tools, the integration paves the way for customer-facing innovations, rethinking the entire mortgage lifecycle and unlocking new growth opportunities.
About 10x Banking and Mast
10x Banking, founded in 2016 and a recent winner of the Best of Show at FinovateEurope, has been a key player in offering innovative solutions like the 10x SuperCore Cards. Mast, on the other hand, specializes in cloud-native mortgage technology, significantly increasing operational efficiency and lending capacity for its clients.
The Future Outlook
The collaboration between 10x Banking and Mast is more than just a technical integration; it represents a strategic move towards a more agile and customer-focused mortgage industry. As the market continues to evolve, such partnerships are essential in driving innovation and delivering superior customer service.
