Atom and Iress Announce Major Partnership
11 August 2015
IRESS, the leading supplier of innovative technology for financial markets, wealth management and the mortgage industry, and Atom, the bank that was born digital, today announce a long term, strategic partnership.
Atom will be the first client to implement the latest version of IRESS’s MSO product, which has been re-engineered to enable the system to meet the varied needs of challenger banks and regional building societies, alongside traditional high street lenders.
MSO will provide Atom with market-leading sales and originations functionality to launch its mortgage proposition. Straight-through processing and workflow powered automation, from scan and attach at point of sale to automated offer production, will give intermediaries reduced time to offer and provide a consistent and transparent mortgage originations process.
MSO will be implemented as a managed service, freeing Atom from the demands of ongoing maintenance and support, and, avoiding the expense of investment in infrastructure.
Andrew Simon, UK Executive General Manager (Product), IRESS said: “As the first wholly digital bank to gain a UK banking licence, Atom wants to differentiate its mortgage proposition. Our MSO product fully supports digital banking by harnessing the latest technologies to provide a highly integrated, configurable and modular solution. Highly flexible architecture has allowed us to support the rapid development of Atom’s proposition, whilst making the mortgage sales and originations process as seamless and efficient as possible.”
“We have focused our investment in MSO to ensure it continues to stay ahead of the curve and it is designed to meet the mobile first, omni-channel demands of the evolving UK mortgage market. Encompassing a responsive web design that enables on-demand, multidevice access, we believe this next generation MSO is a compelling product offering for the digital banks and lenders of tomorrow.”
Speaking from the bank’s Durham HQ, Atom mortgage lead Maria Harris said: “IRESS was a natural fit to support our proposition and they have been great partners to work with. MSO will underpin our business vision and allow us to deliver this within our desired timescales and budgets. Atom has been licenced because it will meet the needs of today’s consumer and IRESS’s MSO provides the technology to make this a reality.”
About IRESS IRESS is a principal supplier of wealth management, mortgage and financial markets systems in the United Kingdom, Australia, Asia, New Zealand, Canada, and South Africa.
All product streams support a diverse range of roles and offer front, middle and back-office functionality for clients that range from financial service institutions through to independent operators.
IRESS is a progressive, service-based organisation that employs over 1340 staff globally, with local knowledge and industry experience.
IRESS strives for excellence in relationships with clients and industry bodies alike. IRESS is client-driven, responsive and promotes a culture that supports working with customers and the industry to face challenges and keep pace with industry developments.
Jenny Barrett / Dan Pike Teamspirit Public Relations Telephone: +44 (0)20 7864 4138 / +44 (0)20 7864 4137 firstname.lastname@example.org
Debra Knott IRESS Telephone: +44 (0)1926 621 410 or Mobile : +44 (0)7796 271 584 email@example.com
About Atom: Atom is a start-up bank, not yet launched, but recently authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA.
Founded a year ago and based in the City of Durham, Atom has a growing team of 100 people drawn from across thE country, working with partners to bring pioneering technology to Europe. Atom is building the UK’s first bank designed specifically for digital, offering easy and convenient banking, along with unique and engaging ways to manage money.
The Atom executive team is highly experienced, having built and run some of the most well-respected banks in the UK. CEO Mark Mullen has 25 years experience in the sector and was previously CEO at the multi-award winning telephone and internet bank first direct.
The team is supported by a strong non-exec board, which includes founder and Chairman Anthony Thomson, also the founder and former Chairman at Metro Bank. He is Chairman of the Financial Services Forum, the UK’s leading membership organisation for senior FS industry executives and Chairman of the National Skills Academy for Financial Services, a national charity.
For more information visit atombank.co.uk. Full details of the extent of our authorisation by the PRA can be found on the Financial Services Register.