Temenos Digital Mortgages” uses AI to assess mortgage affordability and combats fraud through automation and intuitive workflows.

In addition, the solution comes with pre-configured user journeys and out-of-the-box integrations for document generation and management, ID verification and Analytics.

Temenos Digital Mortgages is cloud-native and available for lenders to deploy in their own data centres and on any public cloud as a SaaS on Temenos Banking Cloud, allowing them to launch and scale up services rapidly.

Prema Varadhan, president of 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 leverage explainable AI for fast, responsible lending decisions”, Varadhan added. “Despite the economic headwinds, the mortgage market continues to grow, and by modernising their systems in this way, we’re helping lenders increase volumes sustainably while ensuring affordability and transparency.”

“Everyone’s Banking Platform”

In 2022, Temenos announced its intention to rebrand itself as “Everyone’s Banking Platform” in an opening speech held at the Temenos Community Forum (TCF).

At the time, Martin Häring, chief marketing officer at Temenos, said there is “nothing more exciting than a rebranding exercise” and added that the decision to expand Temenos’ services is “way more than just changing the colour or the visual appearance.”

Steward Watterson, strategic advisor at Aite-Novarica Group, also welcomed Temenos’ digital mortgage solution.

“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”, Watterson said. “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 cost of errors expenses alone, coupled with the ability to redeploy FTEs to higher-impact business areas.”