Customer onboarding software provider Burrow, part of the DRP group, has been selected by Saffron Building Society for the launch of a new mortgage pre-application qualification solution.
Saffron, based in Saffron Waldon in the UK, will be the first lender to adopt the Burrow solution which is planned to launch in Q1 this year.
The building society, which has eight branches across Cambridgeshire, Essex, Hertfordshire, Suffolk, and London, was founded in 1849 and holds more than £1 billion in assets under management from more than 90,000 members.
Colin Field, CEO of Saffron, says that the new technology will help the building society to “digitally evolve at pace whilst creating compliant, customer outcomes”.
He adds that Saffron chose to partner Burrow for its “expertise and shared ambition of creating better support tools for mortgage customers”.
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Founded in 2016 as a provider of “onboarding-as-a-service”, Burrow was acquired by lending and savings software firm DPR in 2018.
Pradeep Raman, director of digital solutions at DPR, says of the Saffron deal: “In a world where customers are time poor and expect instant answers at their fingertips, Burrow solves for this by giving customers confidence in their understanding of what mortgage options are available to them.”
Saffron Building Society has an existing partnership with DPR, through which it launched a mobile application focused on savings.