Mortgage Strategy Press Release08/03/2007
System eliminates re-keying of data
By Lee Jones - 05-Mar-2007
Trustguard and Invent Software have developed a generic application form to eliminate the need for brokers to re-key customer information when applying to several lenders.
The technology solution, called i-MAP, creates an online generic form to pre-populate the application forms of all lenders on Trustguard's panel.
The program has already achieved data integration with Freedom Lending, Advantage, Victoria Mortgages, Southern Pacific Mortgage Limited, Rooftop Mortgages, Future Mortgages and GMAC-RFC.
By the end of this year Trustguard aims to have a lender panel totalling 29, with back office integration to them all.
David Cole, chief executive of Invent, says: 'Re-keying is a waste of time for much of the industry. The systems in use have previously not been able to talk to each other so brokers have had to re-key application details each time they visit a new website.'
Jeff Knight, director of marketing at GMAC-RFC, says: 'Technology is moving so fast that we need to ensure we are all going in the same direction.'