Teachers Building Society is the first BEP Systems customer to develop both mortgage and savings systems.
The Apprivo2 platform will provide the company with the technical infrastructure to further expand its membership base while providing new and existing members with an improved experience in opening and managing mortgage and savings accounts.
The Teachers Building Society was founded in 1966 to help small-income teachers own homes, a mission that continues to drive them to this day. Investing in this software will ensure that it can help more teachers take their first steps on the career ladder in the years to come.
BEP Systems will provide origination solutions for the Company’s exclusive mortgage offerings for teachers, as well as rental and rental products. Additional borrowing, equity transfer, and changing the repayment method for borrowers are also supported. The platform will also enable continued growth of the company’s intermediary-focused complex mortgage offering.
Savings solutions apply to products such as Cash Isa, easily accessible savings and termination accounts for teachers, companies and charities.
BEP will leverage the integration with Finastra’s core banking platform Essence, which is an integral part of the project, by providing new end-to-end digital core banking and self-service capabilities. The platform will use third-party automated interfaces to CRAs, EID platforms, AVMs and e-signature tools.
Simon Beresford, CEO of Teachers Building Society, said: “BEP Systems impressed us with their track record of providing solutions to the mortgage business and their ability to use software for savings. The solutions will ensure that we can provide innovative experiences now and in the future to new and existing members of the Society. “
Chris Little, Managing Director of BEP Systems, said, “I am delighted to be working with a highly regarded building society to improve the efficiency of their emissions systems. This is an important date, especially for us, as it will be our first customer for whom we will provide savings systems. This again shows the versatility of our Apprivo2 platform, the fastest growing system in Great Britain for specialist financial service providers. “