It's that time of year again - the strawberries are ripe the fizz is popping, and the competition is heating up at this year’s Wimbledon. As a long-time tennis enthusiast who was lucky enough to see my hero Agassi compete at Wimbledon (way back in the day!), I can't help but draw parallels between the innovations in tennis and the digital advancements transforming mortgages. Let me explain!

Just as Wimbledon has evolved from wooden rackets to high-tech graphite, the mortgage industry is undergoing its own transformation. At Target, we're proud to be at the forefront of this evolution with our state-of-the-art loan origination solution.

Streamlining the mortgage process

Remember when tennis players had to manually keep score? Today's electronic scoreboards provide instant updates. Similarly, our Mortgage hub has ditched the paperwork, providing real-time loan status updates that keep all parties informed throughout the process. It's like having hawk-eye for your mortgage application!

From serve-and-volley to baseline power: adapting to change

Tennis has seen a shift from serve-and-volley tactics to powerful baseline play. In the mortgage world, while some are still manually underwriting, we’re at the automated decisioning stage. Our solution uses intelligent integrations to assess applications quickly and accurately, much like how today's tennis players use data analytics to improve their game.

The open era of mortgage lending

When tennis opened its doors to professionals in 1968, it ushered in a new era of competition and innovation. With a start of the art decision engine and cutting-edge integrations Mortgage hub is doing the same for lending, opening up new possibilities for efficiency and reimagining the mortgage application journey.

The Centre Court of customer experience

Wimbledon's centre court is the pinnacle of tennis prestige. Similarly, our Mortgage hub puts the customer experience at the centre of everything. With intuitive interfaces and streamlined processes, we're creating a VIP experience for every borrower.

The sweet taste of innovation

Just as strawberries and cream have become a beloved staple of the Wimbledon spectator experience, we believe Mortgage hub will become the new essential in the lending world. It's transforming the mortgage process from a lengthy, complex ordeal into a swift, efficient, and enjoyable experience for customers, brokers, and lenders.

Transforming an antiquated process

For decades, the mortgage process has been as traditional and unchanging as Wimbledon's all-white dress code. Customers have also been stuck in long rallies, waiting weeks or even months for their mortgage to complete, adding unnecessary pressure to an already stressful moving process.

Modernising the mortgage experience

The solution lay in creating a brand new, digital-by-design platform, which harnesses automation to cut the process from months to days. Designed and built with a deep understanding of the technology landscape, processes, regulation, security, and third-party integration options, our technology approach includes:

  • A flexible, event-driven microservices backend that creates reactive user interfaces and a seamless digital experience - as smooth as a well-executed volley
  • Modular design with inwards and outwards data integration - adaptable like a versatile all-court player
  • Built using a suite of open-source tools and frameworks, and APIs to support automation across the application process - as powerful as a 140mph serve
  • Automations include open banking, identity verification, decisioning, property valuations, and electronic loan documentation - covering the court like a grand slam champion
  • Cloud-native platform design for optimal service and security protocols - as reliable as the Wimbledon roof on a rainy day
  • Multi-tenanted capability, enabling the solution to scale as SaaS and be configurable to any lender - as versatile as a player excelling on all surfaces.

Open banking: the new mixed doubles

Like mixed doubles bringing together the best of men's and women's tennis, (we see you Murray and Raducanu!), Open banking combines customer data and lender expertise. Our Mortgage hub leverages open banking to securely access and analyse real-time customer financial data, streamlining the application process and enabling more accurate affordability assessments.

Automated Valuation Modelling: the electronic line judge

Just as electronic line judges have improved accuracy in tennis, Automated Valuation Modelling (AVM) is revolutionising property appraisals. Our Mortgage hub integrates AVM technology to provide quick, data-driven property valuations, reducing time and costs associated with traditional appraisals.

APIs: the ball boys and girls of data transfer

Application Programming Interfaces (APIs)  act like efficient ball boys and girls in our origination solution, swiftly moving data between different systems and stakeholders. This seamless integration ensures that all parties have access to the information they need, when they need it, keeping the mortgage process moving at a rapid pace.

How Mortgage hub resolves lending stalemates

In tennis, when the score reaches 40-40, it's called "deuce" - a pivotal moment where either player needs two consecutive points to win the game. The mortgage process often finds itself in a similar stalemate, with lenders and borrowers locked in a back-and-forth exchange of paperwork and queries.

With Mortgage hub, lenders can swiftly move past the "deuce" of prolonged application processing and indecision. By leveraging our innovative technology, you'll be positioned to win the lending game and deliver a superior experience for borrowers.

Game, set, match with us!

Are you ready to ace your mortgage game? With Target Group's award-winning origination solution, you can serve up faster approvals, reduce errors, and boost your scorecard. It's time to trade in your wooden racket for a high-tech solution that will keep you ahead of the competition.

Get in touch to find out how!

Ace your mortgage origination game!