Property lender LendInvest is investing in technology solutions and automation after experiencing “an incredibly busy” start to the year.
Writing in a blog post on the company’s website, LendInvest’s head of lending operations Lauren Eaton said that the platform intends to deliver faster, simpler finance for its broker customers by finding the right blend between its in-house experts and newly integrated technology.
“The first quarter of 2021 has been an incredibly busy one for the lending operations team at LendInvest,” said Eaton.
“At the start of the year we were dealing with an influx of new business from brokers and clients worried about a March 2021 deadline for the stamp duty holiday, as well as the continued pent-up demand of clients who saw new opportunities to expand their portfolios in a post-lockdown environment.
“This put strain on our lending operations team, which while dealing with record demand was embedding and embracing new technologies as part of a strategy to reduce service levels back to a pre-pandemic level and be scalable for further increased demand in the future.”
LendInvest recently partnered with open banking provider Credit Kudos to improve its underwriting and work towards an integration with Land Registry for faster searches.
Eaton added that the platform will shortly be introducing credit-backed decision in principals (DIPs) for brokers, as well as a new, slicker solution for uploading portfolios.
“The challenges of the past year have thrown into sharp relief how fragile good service can be if you don’t have the right systems in place to deliver it,” she added.
“That’s why we’re encouraged that, with the aid of the changes we’ve made in the past year, we’re seeing an increased number of cases being packaged and offered in faster times, even when the demand hasn’t slowed down.
“By delivering technology and automation we can manage increased business levels and continue to hit our key service levels.”