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App launched to drastically reduce loan and mortgage application times

We’ve unveiled a new application that gathers all the customer information needed to process a loan or mortgage application in just 15 minutes.

Paylink Lending enhances mortgage and loan applications for both lenders and customers and has been designed in response to FCA calls to provide more tailored lending solutions.

The platform gathers and validates customer data in a much more accurate way, which then arms lenders with everything they need at the beginning of the process. This provides a 360 view of customers’ affordability and can accelerate the applications to completion.

Paylink Lending can be used by agents and underwriters so more informed lending decisions can be made – and directly by customers, from any device, who are looking to secure a mortgage, loan or increase to an existing credit facility.

Our CEO, Susan Rann, said: “We developed Paylink Lending in response to the FCA’s call for lenders to be more scrupulous when offering lending products and tailoring plans depending on each customer’s financial situation.

“Having to collect more data though means companies are having to rapidly adjust and embrace new technology so their processes are much more efficient, and they’re able to meet this increasing demand.”

Paylink Lending’s modular features can be tailored and include an interactive fact-find with complete income and expenditure (I&E), full credit report, Know Your Customer (KYC) technology, Open Banking integration, a home valuation and interactive triage with live-chat support. Customers can also upload supporting documents and share with agents via an app on their mobile device or on a desktop.

Susan continued: “Paylink Lending derived from our Collections journey, which is being used by many high street banks and building societies to support customers in financial difficulty. We’re now delighted to launch Paylink Lending and support businesses across the lending industry.”