Nottingham Building Society has partnered with MQube to use artificial intelligence to speed up the underwriting and application process.

The lender will be integrating MQube’s AI-driven Origo platform within its own existing system in a bid to deliver “speedier and stress-free mortgages”.

MQube says its Origo platform analyses 20,000 data points in real-time, which allows lenders to process mortgage applications in minutes instead of days or weeks.

The tech firm says this will enable Nottingham Building Society to provide a faster service, cut costs, manage risks and adjust its strategy quickly and effectively.

The platform only requests information from the applicant that it can’t source elsewhere, which reduces the back and forth between underwriters and clients.

MQube is working closely with Nottingham Building Society to customise the platform for the lender’s existing infrastructure.

Nottingham’s chief technology and transformation officer Paul Howley says: “At Nottingham Building Society we’re going through an exciting period of change as we focus on the question of what mutuality means in the modern world.

“In 2024, borrowers face potentially more challenges than ever before, and we’re evolving our mortgage proposition to ensure we can really have an impact on growing homeownership and supporting a wider range of borrowers.

He adds: “We are confident that this sophisticated new technology-driven platform from MQube will help us better serve our customers by speeding up and smoothing out the mortgage journey.”

MQube chief executive Stuart Cheetham says: “Our Origo platform is used by our lender firm MPowered, and it is exciting that through this partnership, so many other brokers and customers will be able to take advantage of the benefits it provides.

“We are delighted NBS has chosen to use Origo and we are excited to be in conversations with other building societies and banks about the benefits our platform can bring to their businesses so that as an industry we can collectively enhance the mortgage experience and improve outcomes across the market.”

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