The buy out brings together both back office, front end and client relationship (CRM) management systems, including CDS Group’s sourcing system The Core.
CDS Group was founded in 2008 by Peter Heigho, the founder of Trigold, and as a result of the deal appointed chief technology officer for Verso and CDS Group.
The CDS system offers links to ‘ClientCore’, a customisable CRM system and ‘Application Core’, allowing intermediaries to submit mortgage business direct to lenders.
James Tucker, managing director of Verso (pictured) confirmed the integration of The Core sourcing system and CRM system took longer to complete than expected but finished in the last month, adding the provider has ambitious expansion plans.
“What we know mortgage brokers want is a single data input which flows from the sourcing system, across to the application form and our equivalent of the Mortgage Trading Exchange passing it on to the lender. Mortgage Brain and Trigold both do that in part but it is loosely drawn and not particularly efficient. We can deliver that, which is why our technology is ahead,” said Tucker.
Both businesses will form part of a new financial services software division within Verso Capital, headed up by Tucker, and chaired by James Gray, chairman and CEO of Verso Capital.
The sourcing system creates 100,000 mortgage searches and operates on nearly 100 different websites every month. Mortgage27 also provides mortgage market data and intelligence reports for banks and building societies.
James Gray, chairman of Verso Capital, said: “Mortgage brokers at both individual, company and network level have been looking for a seamless and efficient solution to managing the business process.”
Peter Heigho, founder of CDS Group, said: “We are delighted to see this deal come to a conclusion and become part of the Verso Capital portfolio of companies. This deal enables us to accelerate our development and bring these client-driven solutions to market.
“We are talking to brokers, banks and building societies across the country and all are excited at the opportunity to deploy a system that will deliver significant time and cost savings”.
