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Tesco agrees to extend Capita mortgage servicing contract to 2020

by: Chris Menon
  • 24/08/2017
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Tesco agrees to extend Capita mortgage servicing contract to 2020
Capita has agreed a contract extension until 2020 to provide mortgage services to Tesco Bank.

Since the launch of Tesco Bank Mortgages in 2012 Capita has provided a full mortgage outsourcing service from its Glasgow-based office. The service spans, mortgage advice, telephony support, processing, servicing and arrears management.

Initially, this supported Tesco in launching a direct proposition allowing customers to apply via the web or receiving advice through the telephony channel. Last year Capita expanded the relationship further by supporting Tesco Bank launch mortgages into the intermediary market.

The Tesco Mortgage Intermediaries portal is based on Capita software and offers real time application placement, decision-making and tracking, as well as instant scanning and uploading, via a range of devices.
The portal aims to provide ease and convenience to intermediaries, allowing communication through the portal via message board, webchat or telephone. Since launch, 4,000 Brokers have joined the panel.

Benny Higgins, chief executive of Tesco Bank, said: “Since entering the mortgage market we have built our reputation based on competitive rates and a commitment to good service. Capita has been integral to helping us achieve that, which is why we have extended the contract.”

He added: “We are delighted with the performance of the broker portal Capita helped us to introduce last year. This was specifically designed to help brokers provide a great service to customers remortgaging or purchasing their home.”

Mike Barnard, executive director, Capita Customer Management, said: “We have a proud record of working with banks and other financial institutions to provide full end-to-end servicing for retail mortgage and loan products. This contract extension with Tesco Bank is testament to the success of the business in recent years and we look forward to continuing that relationship.”

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