Technology giants such as Amazon and Google would be reluctant to enter the UK mortgage market as it is too complicated, Mortgage Brain has said.
Speaking on Mortgage Solutions Television in association with NatWest, Ken Deegan, chief technology officer at Mortgage Brain said the “existing ecosystem” of the sector would need to work together to be prepared of that situation.
He added that such disruptors typically preferred to enter sectors which worked seamlessly across international markets.
Deegan said: “I think there’s every possibility of them or the disruptors entering the industry, but I think the important thing is for the existing ecosystem to work together to provide for that.
“The capabilities will be there, the technology will be there, the collaborative space will be created and once that happens it becomes less of an issue.”
He added: “Amazon and Google have gone into tangential markets previous to this, but just because it’s capable of being entered into by them, doesn’t mean they will actually want to do it because it’s not really going to be in their long-term interests.”
The panel is:
Luke Christodoulides, senior corporate account manager – NatWest
Ken Deegan, chief technical officer – Mortgage Brain
Dilpreet Bhagrath, customer experience manager – Trussle
You can see the whole series of debates about mortgage market technology on the Mortgage Solutions website.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
