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PRESS RELEASE
London, UK - July 10th, 2023 - Melton Building Society has partnered with Mast to power the Society’s loan origination infrastructure, as it continues on its digitisation journey. Mast’s software-as-a-service origination platform will enable the Society to further enhance its underwriting capabilities, react quickly to changing market conditions and offer the best possible service to its brokers and customers.
The Mast platform is the first cloud-native mortgage origination software built for the UK market. Lenders can configure the platform themselves, quickly create new journeys and products, change policies, control user permissions and create automations.
Melton Building Society also selected Finastra Essence, a cloud-first, next-generation digital banking solution, for its core platform and Fairmort, a provider of software solutions for financial services, to manage its data migration and regulatory reporting.
Following a successful 18 months of using the platform for the Society’s specialist mortgage subsidiary, MBS Lending, which has improved process efficiencies and increased their application to completion conversion by 22%, Melton Building Society is now looking to benefit from these improvements for its entire origination solution.
“Our vision is to build a modern mutual Society that keeps pace with the demands of our members, and digital transformation plays a critical role in this,” said Simon Taylor, Chief Executive Officer at Melton Building Society. “Choosing Mast as our origination solution is a significant step in the Society’s future, enabling us to revolutionise our application process, improve efficiencies and become more agile”.
“The fact that Melton Building Society assessed the market and chose to upgrade and deploy the Mast platform for its full lending operation is a testament to the robustness of our product infrastructure and the promises we’ve kept and delivered since day one,” said Joy Joseph Abisaab, CEO at Mast. “Our software has been built from the ground up to be self-service and to streamline all aspects of the mortgage origination process, from submission to completion, while giving lender users the essential tools to help them accomplish their tasks quickly and efficiently.”
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For further information please contact:
press@usemast.com
About Melton Building Society
Melton Building Society is a mutual society founded in 1875 and based in Melton Mowbray,
Leicestershire. As a specialist mortgage lender and savings provider, the Society is committed to offering a range of mortgage products, savings accounts, and financial services to help customers achieve their homeownership and financial goals. Melton Building Society prides itself on its strong customer focus and the provision of a personalised, flexible, and efficient service to meet the needs of its members. For more
information, please visit the Melton Building Society website at www.themelton.co.uk.
About Mast
Mast is a venture-backed fintech building cloud-native mortgage origination software to help lenders increase capacity, reduce costs and strengthen operational controls. Our products allow lenders to operate more efficiently, react faster to changing market conditions, and focus on offering the best service possible (usemast.com)
To keep up to date about Mast in the news and announcements, follow us on: LinkedIn. For any further information please contact sales@usemast.com
