Accord streamline application process with MATS®
Customer Company Size
Large Corporate
Region
- Europe
Country
- United Kingdom
Product
- MATS
Tech Stack
- Cloud Deployment
- eCommerce Integration
- Legacy System Integration
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Productivity Improvements
- Cost Savings
Technology Category
- Platform as a Service (PaaS) - Connectivity Platforms
- Application Infrastructure & Middleware - API Integration & Management
- Application Infrastructure & Middleware - Data Exchange & Integration
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
- Sales & Marketing
Use Cases
- Process Control & Optimization
- Regulatory Compliance Monitoring
- Remote Collaboration
Services
- System Integration
- Cloud Planning, Design & Implementation Services
About The Customer
Accord is a central processing hub for Yorkshire Building Society (YBS) and its subsidiary Chelsea Building Society. Since its implementation of MATS in 2008, Accord has become a pivotal player in the UK mortgage market. The company has grown significantly, tripling its market share since 2010. Accord's primary focus is on improving the mortgage application process, making it faster and more efficient for brokers and their clients. The company has received several awards, including 'Best Advisor Only Lender' from What Mortgage and 'Innovator of the Year' from Moneywise, highlighting its commitment to excellence and innovation in the mortgage industry.
The Challenge
Accord first implemented MATS in 2008 as a workflow solution for mortgage application processing. As Yorkshire Building Society grew, Accord became the central processing hub for the group, and the use of MATS spread to handle mortgage applications for YBS and their subsidiary Chelsea Building Society. Further improvements of processing speed and efficiency were needed to scale the operation. Customer experience needed to become a competitive advantage, because brokers were looking not just for the best rates and terms, but for the quickest and most precise execution. Elimination of postal and paper handling delays was a key opportunity for process improvement.
The Solution
The MATS document upload facility had been implemented for banks such as Santander, so Accord was confident that this was a proven solution. Internal IT constraints and the need to provide connectivity to thousands of brokers meant that a Cloud deployment of MATS was the right approach. In less than 3 months from initial sign off, MATS was in full deployment and integrated with Accord’s eCommerce and legacy systems. Brokers are now able to immediately upload proof of address and other documents electronically, on behalf of their customers. Brokers now have real-time visibility of application status, and automated alerts with respect to required actions, enabling them to offer their clients a faster and more efficient service.
Operational Impact
Quantitative Benefit
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