Tieto Corporation  PRESS RELEASE  8  June 2010 at 11:00 am EET

Leading European IT services company Tieto has unveiled the Origination Suite, designed to support sales of financial services such as mortgages, savings, loans, cards, insurance and current accounts. Focussing initially on mortgage origination, this highly configurable solution provides business users with an intuitive, easy-to-use system for the complete process, from initial customer engagement to loan fulfilment.

Research conducted by Tieto confirms that the purchase of a mortgage continues to be a lengthy process, with a customer typically having to wait anything up to 14 days to get a decision. And it’s not just the customer who finds the process too slow. Mortgage intermediaries need the ability to provide their customers with quick and accurate decisions. They also want regular progress updates, with the ability to keep track of their cases and their commission payments.

Tieto’s solution provides support for the complete end-to-end process, from initial enquiry, through illustrations to a mortgage offer, and then all the way through to the final completion of the loan and release of funds. It is highly configurable, allowing the lender to decide everything from the amount of information collected during the application process, through to what lending policy rules are used and the process to follow in order to progress the loan through to completion.

The solution supports the whole range of mortgage products and enables lenders to respond to market forces or regulatory changes quickly and easily. Behind the scenes, the unique focus of mortgage origination is on allowing business users to own and make changes, such as the ability to configure lending policy rules and the creation and deployment of new products.

Liam Howard, Head of Tieto Financial Services UK, says: “Tieto is already established as the UK market leader for mortgage sales and processing solutions. Origination Suite will allow lenders to provide a consistent customer experience across all channels, shorten the sales cycle through higher automation, ensure that products are matched to individual customer circumstances and have the agility required to react quickly to market needs.” 

Tieto’s financial services offering includes everything from banking, internet banking and payment, card and capital market services to development, application management as well as outsourcing.

For more information:
David Clark, Head of Sales, Mortgage & Savings, Tieto tel.  01582 845 000
Liam Howard, Head of Tieto Financial Services UK, tel. 01582 889 729

TIETO CORPORATION

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Tieto is an IT service company providing IT, R&D and consulting services. With approximately 16 000 experts, we are among the leading IT service companies in Northern Europe and the global leader in selected segments. We specialize in areas where we have the deepest understanding of our customers' businesses and needs. Our superior customer centricity and Nordic expertise set us apart from our competitors.