Overview: Leeds Building Society transform their mortgage journey
Increasing operational efficiency, scalability and speed of decisions, Leeds Building Society has seen immediate business change and value after implementing Experian’s PowerCurve Originations platform. The society will benefit further from the flexibility to expand, adapt and control future requirements, including climate risk strategies and more.
Leeds Building Society has been on a transformation journey, with a vision to improve mortgage processing and digitally enhance the customer experience.
The company’s main aim during this transformation was to develop a new, modernised digital front-end application for customers, harnessing more automation to enable greater operational efficiency in the back-end. In doing so, they needed to incorporate the controls and constraints required by the different areas of their business.
At the same time, they wanted to improve their decisioning, not only to support existing products, but also to drive growth by expanding their portfolio to include new markets and customers.
Central to all of these objectives was the integration and implementation of a flexible, scalable and efficient decisioning system.
Leeds Building Society is a building society based in Leeds, England. It serves approximately 719,000 customers across the United Kingdom, who together hold £9.9 billion in savings balances and is the fifth largest building society in the UK. It has 65 branches across the UK, with 29 located in Yorkshire, with two international branches located in Gibraltar and Dublin, Ireland.
|Number of UK customers:||700,000+|
|Number of UK branches:||65|
|Number of employees:||1,400+|
The outcomes for Leeds Building Society, and their customers (inc. broker network) have been significant. Improved accuracy while reducing risk, new business growth as well as doubling their Net Promoter Score. Operationally, they moved from 80% manual, to 80% automated and cut decision in principle time to just 11 seconds.
This activity helped Leeds Building Society progress in five key areas of the business:
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