The deal will allow brokers using the OMS system to source through the Iress live product data as well as the existing OMS product feeds.
OMS has already developed a full two-way decision in principle (DIP) integration with a number of specialist lenders, allowing brokers to submit multiple DIPs without re-keying data.
Neal Jannels, managing director of OMS, told Mortgage Solutions the partnership meant that when Iress completed two-way integration with lenders itself, these would also be available through OMS.
“That’s the intention. Iress will be talking to other lenders and if they bring other people to the party then we will link in with them too,” he said.
Jannels added: “We wanted to make sure we are in the mix with how technology in the mortgage market is going to progress.”
Purely commercial deal
Jannels also noted that it was a purely commercial deal between the two technology providers with no ownership or other investment stake being taken by either party.
He continued: “After a significant due diligence process, Iress was chosen as an OMS partner because of its data quality, its global IT infrastructure and reliability – all of which are key considerations in any platform integration.”
“This is a partnership which will enable our users to benefit from the strength of two leading tech solutions and our joined-up, intuitive approach.
“And we look forward to working closely with the Iress team to further develop our respective tech offerings.”
Dave Miller, executive general manager – commercial at Iress, said: “We are delighted to further our relationship with OMS.
“We are well placed to be able to assist OMS and its users by providing a seamless software and data experience alongside greater choice.”