As a key software development partner of Nationwide, IPL was tasked with developing the complete e-business front end for the new process and its interaction with back-end systems, via web services. The process involves providing the customer with initial affordability quotes, a KFI (Key Facts Illustration) document and then an instant lending decision in principle. When the purchase of a property has been agreed, the customer can return to complete the application - all online.
IPL worked closely with Nationwide's Technology Development staff; however the development work itself was undertaken in IPL's Bath offices in the first major collaboration of its kind between the two organisations.
The delivery of this project was extremely important both in terms of improving service to Nationwide's customers and maintaining the Building Society's position as one of the UK's top mortgage lenders. The project was completed in under five months, from requirements through to implementation, and crucially was delivered on time and within budget. The project was a real success and an endorsement of the commitment that both companies have made over a number of years in building their relationship.
The service went live in October 2006 and has been accepting mortgage applications online continuously since then, without interruption. If you are currently looking for a mortgage you can use the software for yourself on Nationwide's web-site here: http://www.nationwide.co.uk/mortgage/default.htm
