Temenos launches AI-driven Digital Mortgages solution to boost lending

By Gloria Methri

Temenos has launched a fully integrated front-to-back mortgage solution with a smart decision engine to help lenders deliver a personalized digital mortgage experience while reducing costs and time to close.

The solution enhances productivity and reduces delinquencies for the lenders through automation and intuitive workflows to make quick and prudent decisions, using Explainable AI.

Temenos Digital Mortgages provides borrowers with a hyper-personalized experience in every touch point through the partner ecosystem model, resulting in seamless customer experience and increased customer satisfaction. The solution is suitable for banks of all sizes, building societies, credit unions that want to enhance their service offering, and FinTech or challenger banks looking to enter the mortgage market.

Lenders can deploy the pre-integrated front-to-back solution that comes with pre-configured user journey integrations for document generation and management, ID verification, and Analytics. Alternatively, lenders can take individually deployable components that integrate via APIs with their existing infrastructure.

The solution is cloud-native and available for lenders to deploy in their own data centers and on any public cloud or as a SaaS on Temenos Banking Cloud.

Prema Varadhan, President Product and Chief Operating Officer, at Temenos, said, “The mortgage experience from many lenders is slow and fragmented, resulting in customer leakage in the application process. With this new solution, lenders can easily upgrade their mortgage capability, elevating the digital experience and leveraging explainable AI for fast, responsible lending decisions.”

Stewart Watterson, Strategic Advisor, Aite-Novarica Group, added, “Digital straight-through processing is no longer just aspirational; lenders have an opportunity but will need to divest themselves of the patchwork of paper, batch files, and legacy technologies that have been strung together over time. Making the capital investment in true digital end-to-end solutions sitting on a modern tech stack will provide a positive boost to efficiency ratios through the cost of errors expenses alone, coupled with the ability to redeploy FTEs to higher-impact business areas.”