In part three of our digital panel debate series, chair and Mortgage Solutions group editor Victoria Hartley asks how application programming interfaces (API) will affect the mortgage experience for brokers and consumers.
Brokers already have online fact finds and portals for clients to use, but technology will provide further advances, according to Mark Lofthouse, chief executive at Mortgage Brain.
He added: “We’ll see through APIs, this moving to customers being able to do a decision in principle – and ultimately, potentially, even full [applications], and certainly case tracking through these portals.”
Jenny Watts, COO at Dynamo said APIs will mean that in the future consumers will only be asked questions once, replacing the current system where different parties often ask for the same information again and again.
