It is expected that users can receive an instant DIP on remortgage cases from Nationwide, without needing to re-key data into the lender’s portal.
A spokesperson for Nationwide said brokers will not need to re-key the DIP onto the society’s portal, but client information will need to be re-entered for the full mortgage application.
However it is looking at resolving this in the future.
Nationwide conducted tests and found the DIP results always matched the results returned from the society’s portal as Apply runs the decision against its credit scoring system, the spokesperson added.
Initially, the service will be made available to Connells Group brokers using Apply, before being rolled out to Mortgage Advice Bureau, and then the wider market.
The integration is the first service that has gone fully live to brokers after Nationwide announced in November 2019 that it was launching a ‘sandbox’ pilot to enable third party systems to connect with its credit risk and back office systems.
The society said it would continue to work with a range of third parties to develop and support further technological innovations in the broker market.
Ian Andrew (pictured), director of intermediary relationships at Nationwide Building Society, said: “This is a big moment for Nationwide and we’re delighted that the outcome of recent tests in our API sandbox with Twenty7Tec have been so positive and that we’re now in a position to put our DIP API for remortgages live.
“We expect to expand the API with other third-parties in the near future and we continue to look at other ways we can use technology to improve the service we offer brokers both now and in the future.”
James Tucker, CEO at Twenty7Tec, added: “We’re very proud to be the first broker platform to have been chosen to work with Nationwide on this project, and we look forward to seeing the results that it produces.”