Using M&S’s open banking assisted journey, customers can upload applications immediately and securely, making the process easier and more secure.
Most customers won’t need to source and supply copies of bank statements to support their mortgage application.
Julia Annandale, head of mortgages at M&S Bank, said: “We are delighted to offer an open banking assisted mortgage application journey, which will make things even easier for our customers when making a new mortgage application.
“Open banking allows us to quickly and securely verify a customer’s proof of income, meaning that customers won’t have to provide us with copies of their bank statements which therefore speeds up and simplifies the whole customer experience.”
Emma Steely, CEO of AccountScore said that open banking is not only changing the way banks support their customers, but it also enables greater financial inclusion, awareness and control for consumers.
She added: “This latest addition to M&S Bank’s open banking offering will simplify the process for mortgage applicants and reduce the application time by making it much quicker and easier for customers to share supporting documentation.”