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OMS launches originations platform

  • 29/04/2024
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OMS launches originations platform
One Mortgage System (OMS) has unveiled OMS Originations, a loan origination platform for banks, building societies and specialist lenders.

The originations platform from OMS aims to streamline the process for both intermediaries and customers submitting an application.

It has a customisable dashboard to adjust to a variety of borrowing requirements without the need for long developmental times and additional costs. It also supports instant decisioning, product engine, bespoke underwriting and audit functionality.

This can be used for a range of products, including mainstream mortgages, semi-commercial, self-build, buy-to-let (BTL), retirement interest-only (RIO), holiday let and expat mortgages. 

Neal Jannels (pictured), managing director of OMS, said: “We understand how the dynamics of the customer profile [have] changed over the past 10 years, and so the need to develop new propositions and enhance efficiency is more important than ever. We also acknowledge the history and values banks and building societies have, especially when it comes to the impact of societies on their members and in the local community. However, we realise that maintaining an edge with innovative products is proving difficult due to antiquated systems and legacy issues.”

He added: “Our mission is to support such lenders in the transformation programme to become a modern lender by providing advanced technology to help achieve lending goals, boost efficiency, mitigate risk, and cater to a new generation of borrowing needs.

“It’s all about being in a position to deliver the right customer-centric experience by using the latest technology for end-to-end efficiency. When aligned with our market experience and dynamic approach, we believe OMS Originations can help these institutions to deliver a far more efficient, faster and an increasingly robust mortgage origination process in a cost-effective manner.” 

Earlier this month, OMS obtained the ISO 27001 certification, which demonstrates its ability to manage and protect sensitive information in a secure way.

At the start of this year, the firm introduced a Consumer Duty function that included questions around vulnerability and an interactive client survey. This change was made following feedback from the platform’s users.

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