(PRWEB UK) 25 November 2011
Avelo, the UK's leading provider of technology solutions to the financial services market, has received industry recognition for its Mortgage Sales and Origination (MSO) technology. The platform has been awarded Best Use of Technology – Lenders and Technology Providers, with Nationwide for Intermediaries, at the Mortgage Finance Gazette Awards 2012 ceremony in London.
Winning this award involves receiving nominations from within the industry and the winners being chosen by a judging panel. This year’s judges were Diana Wright of the Sunday Times, Bernard Clarke of the Council of Mortgage Lenders, Paul Broadhead from the Building Societies Association, Ben Wilkie Editor of What Mortgage and Joanne Atkin, Editor of Mortgage Finance Gazette.
Avelo’s MSO and Nationwide Building Society were selected as winners of this award for their partnership in building a transformational solution to replace Nationwide’s mortgage sales and origination systems. The launch of MSO has supported Nationwide by increasing business volumes, reducing application to offer times and cutting the number of processing resources. It has reduced costs, increased efficiency and flexibility to deliver a better service to mortgage customers – direct applicants and intermediaries.
Simon Badley, Avelo Commercial Director added: “We are very proud that our mortgage technology has been singled out for industry recognition, especially in what has been a tough market during the past few years. The mortgage market has been starved of innovation in recent years, and solutions such as this will enable lenders to deliver a market leading service to consumers and intermediaries alike, from point of sale through to completion.”
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Avelo is the technology partner that connects the entire industry more effectively than ever before.
It’s reshaping financial services and redefining how companies interact with each other. Avelo has intertwined 1st Exchange, N4 Solutions and Screen Business to create a new force that will power the industry end to end.
From sole trader IFA to global financial players alike, Avelo can help make those powerful connections, across the board. So whatever challenges businesses may face in distributing products end-to-end – in all stages of the sales process, Avelo can help power the process.
- The Exchange is the largest provider of online comparative quotations and electronic new business applications in the UK financial services portal market. Its main product is the Exchange Portal, which is the UK’s leading intermediary trading platform in the financial services market, used by over 32,000 registered users within authorised advisory firms. It provides online information and transaction services, with over 360 million client illustrations processed between March 2008 and March 2011.
- 1st develops, markets and supports software delivering financial planning, client management and full back office administration to financial intermediaries. 1st’s ‘Adviser Office’ software, is the market-leading client management solution used by more than 1,250 Adviser firms offering wealth management and financial advice, both Multi-tied and Independent. Based on Microsoft SQL Server and .net Technology, Adviser Office links with over 70 partners, including product providers, portals and fund supermarkets to aggregate client data and avoid any data re-keying.
- N4 Solutions (N4) is the UK's leading provider of multi-channel point-of-sale distribution and application processing technology for mortgages and wealth management. N4’s offering supports multi-channel distribution from a single platform. A typical implementation would see an incremental deployment of components across all channels. Furthermore, the system is designed to be easily integrated with existing enterprise systems, to deliver seamless straight-through-processing to existing back-end servicing systems.
It’s estimated that 1 in 4 UK mortgages currently touch Avelo point-of-sale and originations systems.
- Screen Business has a 10 year history of providing self-service websites to IFAs which automate key client sales, servicing and administration processes. For larger firms and financial product providers, Consumer solutions include Annuity, protection and investment direct distribution, as well as portfolio management and, employee benefit services.