Higher-than-expected inflation rate in the US in April

Charlie Taylor

Automated mortgage management for all IT systems

Published: 10 May 2022, 09:00Erik Bennerhult, founder and CEO of Näktergal. Top row from left: Joakim Rehn, Sara Kok, Linda Sporrek, Dilken Dilber. Bottom line: Robin Hörnqvist, Erik Bennerhult, Mikael Abrahamsson. With its cloud service for automated mortgage management, Näktergal has modernized the Swedish mortgage market. By breaking down the SaaS service into modules, all banks, regardless of IT systems, can now access the fast and scalable technology. During the almost 35 years I have worked in the lending industry, not much has happened with the banks’ mortgage management. These are basically completely manual processes, although some forms are available online today. Today, technology development is faster than these systems can handle. It is operated to large parts of the unsecured loan market, which has shown that it is possible to combine enormous volumes with processing time of a few hours, says Erik Bennerhult. The fintech company Näktergal was started by Erik Bennerhult and Mikael Abrahamsson, two big names in innovative digitalisation of the banking world. The company offers a cloud-based SaaS platform for mortgages, corporate loans, consumer loans, and deposits. Näktergal is now focusing on the mortgage market with the goal of increased efficiency and mobility. Näktergal’s cloud platform automates all mortgage management from application to payment and is used by Bluestep Bank, GCC and Bofink, among others. When Bluestep Bank launched mortgages in Finland, Näktergal’s platform was used. It only took 142 days from the decision until the service was up and running. That time can in many cases be further reduced. Competition requires faster technologyToday, the traditional banks face a number of challenges that affect the opportunities to offer competitive mortgages. For example, obsolete IT systems and shrinking market shares with poorer profitability. An uncertain future with higher interest rates is also expected to be felt in the coming years. Customers will be even more careful in comparing different mortgage alternatives. Today, there are a number of more customer-adapted players, which the traditional banks have tended to underestimate. Many times, it is relatively young companies that from the start had the opportunity to choose a system platform for rapid upscaling and streamlining of their operations. About a year ago, Näktergal made a strategic decision that makes it possible for all banks to streamline their mortgage management with automated steps. We have chosen to break down our SaaS system into smaller modules, for example for amortization requirements and scoring, respectively, which are easily implemented in existing IT systems. The modules mean significantly less manual handling, greater security and faster processes. It can be said that we offer automated shortcuts to more profitable mortgage solutions, says Erik Bennerhult, CEO and co-founder of Näktergal. In the near future, Näktergal plans to expand in Europe, where the first step is a step into Germany.About Nightingale:
Nightingale is the digital loan system. Managing the loan’s full life cycle is simple in our loan system. To help banks manage their biggest challenges, we have now launched modules. Easiest way to scale. Smartest way to enter new markets.Read more about Nightingale here!The article is produced by Brand Studio in collaboration with Näktergal AB and not an article by Dagens industri

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