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TL;DR
Cumberland Building Society (CBS) partnered with Mast to transform their intermediary residential mortgage journey, aiming for faster, smoother, and more efficient lending. By implementing our off-the-shelf, yet customisable platform, CBS reduced processing times, automated policy checks, and eliminated manual inefficiencies. This resulted in a seamless, digital-first mortgage experience that benefits both brokers and lenders, with strong post-launch support ensuring long-term success.
Problem
CBS faced challenges with their existing journeys: not only were they time-consuming but they left room for efficiency gains and fell short of providing a seamless experience for both brokers and lenders. The key issues included:
- Challenging processing time: the manual, process was labour-intensive and lengthy, leading to delays in mortgage processing.
- Absence of policy prompts and hard stops: a lack of automated prompts and mandatory checks resulted in more manual work, increasing time per application for both brokers and lenders.
Solution
We proposed and implemented a broker platform tailored to CBS’s needs, achieving a full rollout in less than four months from initial scoping to implementation. The solution comprised two main focus areas:
1. Digital forms and policies
- Transitioning from paper to digital forms and removing bureaucracy.
- Enhancing the structure of forms and policies and ensuring compliance and improving data accuracy.
2. Streamlined mortgage journey
We developed a comprehensive digital workflow to take brokers and lenders through the process from start to finish, removing friction from each step of the process with automations and policy prompts. Integrating key steps of the mortgage journey into one platform created a cohesive and efficient process.
According to CBS, “Mast’s collaboration, support and advice was invaluable to ensure that the roll out was well received by both internal and external users” prior to launch. After go-live, CBS highlighted that “The post launch support has been brilliant from everyone at Mast and any queries were dealt with promptly,” reiterating Mast’s client dedication through the implementation process and beyond.
Key Takeaways
We always see our clients as partners and we’re invested in their success at every step. This approach creates a dynamic of collaboration, where we are laser focused on finding the right solution for individual clients like CBS, rather than a one-size-fits-all approach.
Beyond the technical transformation, our partnership with CBS underscores Mast’s commitment to ongoing support and collaboration. Our hands-on approach before, during, and after implementation ensured that internal teams and external brokers were well-equipped to navigate the new system. CBS’ feedback reflects our dedication to client success, reinforcing our belief that digital transformation is not just about technology—it’s about delivering real, measurable impact to lenders and their customers.
With CBS now benefiting from increased efficiency, improved broker satisfaction, and enhanced customer experience, this case study serves as a testament to Mast’s ability to deliver practical, impactful solutions that reshape the mortgage journey. As we continue to innovate and refine our platform, we remain focused on helping lenders like CBS adapt to an ever-evolving mortgage landscape, ensuring they stay competitive while maintaining exceptional service standards.
