Carruthers replaces Henry Woodcock following his retirement last year.
His appointment will support Iress’s existing capability and expertise, it said, supporting growth ambitions and increasing demand for IRESS’ mortgage technology in the UK and other markets.
The technology firm said: “We continue to see change across the entire mortgage value chain, with lenders (of all shapes and sizes) investing in technology to improve processes for intermediaries and consumers as well as internal users.
“We are seeing the market shift away from stand-alone systems to a more connected and automated mortgage ecosystem. Greater integration between lenders, intermediaries and other third parties will increase efficiency enabling the market to serve more people, reduce risk, remove friction and provide better outcomes for consumers.”
Carruthers has 30 years of banking experience after intermediary jobs at Aldermore, RBS and Ulster Bank.
Carruthers said: “Lenders and distributors alike are increasingly turning to technology to strip out manual processes, provide greater transparency across the mortgage value chain and make the end to end mortgage application journey more engaging and rewarding.
“With more than one in four mortgages being processed through Iress technology, I saw a real opportunity to drive much needed change and make a valuable contribution to the mortgage sector. IRESS has the knowledge, experience, industry relationships, products and services to make a really positive difference and I wanted to be an integral part of this transformational capability.”
Paul Thornton, executive general manager, lending said: “We’re thrilled to have someone of Steve’s calibre on board. He is a recognised thought leader and has built up a huge amount of relevant experience working with lenders and distributors.”
He continued: “He’s naturally aware of the challenges both parties face, and the opportunities available by working collaboratively. He’s going to be a great asset to IRESS as we continue to work with the industry to drive change that benefits all participants and consumers.”