Issue link: https://read.uberflip.com/i/1437168
Going digital Kensington Mortgages was seeking a solution focused on improving their core platform, as well as orchestrating and delivering on-boarding journeys. The third-party system they were using wouldn't give them the growth they needed going forward. To do that, they needed to go digital. Kensington required a system and a process to fit their future needs, rather than simply fitting the existing system they already had. Being reliant on supplier fixes was also something they were keen to break away from – a solution that they could configure themselves was key. Making the most of a long- standing partnership Sopra Banking Software has provided the technological systems for 21 years of Kensington's 25-year history, a partnership that has seen Kensington rise to UK market leader in the non- bank specialist mortgage lender field. It was this success that led to the renewal of their managed services partnership for another five-year term. Kensington was keen not to follow suit with the rest of the industry, instead opting for a platform that would differentiate them from the competition by providing unique capabilities for the launch of new products. The opportunity to use a tool that was new to the market and offers the opportunity to help shape and configure 80 percent of it was a key win. Overcoming challenges along the way The project was challenging, as both companies were dealing with the impacts of the pandemic, ultimately turning it into an 18-month journey. A B O U T K E N S I N GTO N M O RTG AG ES I N D U ST RY R ECO G N I T I O N • Founded in 1995 • Headquarters: Maidenhead, UK • In 2018, became a £1 billion-a-year mortgage lender • Three-time winner of Moneyfacts's "Best Online Mortgage Provider," between 2019 and 2021 • Winner of the 2020 Simples Award for "Innovation" • Winner of the What Mortgage Award for "Best Specialist Lender" in 2020 and 2021 • Winner of Your Mortgage's "Best Self- Employed Mortgage Lender" in 2019 and 2020 • Winner of The Personal Finance Award for "Best Intermediary Lender" in 2020 and 2021 "We chose Sopra Banking Software because they shared our vision of how the industry needs to evolve and have proved themselves to be an excellent partner for us over many years." Mark Arnold, CEO Kensington Mortgages.