Meeting Mortgage Market Review Challenges
Tackling the increased pressure brought on by new Mortgage Market Review (MMR) regulations head-on
eg solutions plc, pioneers and pacesetters in back office workforce optimisation, guarantee the creation of extra capacity to handle the increased workload, within existing resources, and provide evidence to meet the requirements of the new MMR tests through the use of the eg operational intelligence® software suite.
Impact of MMR Regulations on Back Office
New affordability tests brought in by the Financial Conduct Authority’s MMR are predicted to add additional strain to back office operations, at a time when the UK government applies further pressure on the mortgage lending industry to increase the rate of mortgages approvals.
Elizabeth Gooch, Acting Chief Executive Officer of eg solutions said: “Juggling the government’s push to increase mortgage lending to bring momentum to the housing market, while curbing ‘irresponsible lending’ through new regulations is placing additional stress on existing mortgage processing teams, bringing with it an increased risk of error and lengthening approval times.”
eg Operational Intelligence Software Suite Explained
The eg operational intelligence® software suite was the first purpose built back office workforce optimisation software product in the market. It has been proven to create extra capacity through real-time work balancing as well as reducing end-to-end processing times, eliminating backlogs and providing evidence to meet regulatory requirements. The eg software suite was designed to address the many seriously conflicting demands in back office processing teams and to deliver improvements in a range of factors affecting back office performance.
Proven Capacity and Productivity Improvements
More than that, eg guarantees that its operational intelligence® software suite will improve performance and many of its customers have achieved guaranteed improvements in back office productivity of between 10 per cent and 40 per cent.
Customer Benefits and Industry Perspectives
Gooch added: “eg has always provided a benefit realisation guarantee to companies that implement our software, and when we surveyed our customers 97 per cent said it was a decisive factor in their choice to implement.
“The software industry as a whole should be willing to focus on business benefits instead of simply highlighting features, functionality and licenses.”
