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MQube taps Thought Machine to streamline mortgage lending

By Gloria Methri

April 18, 2023

  • AI-automated Credit Underwriting
  • FinTech
  • Mortgage Lender

Thought Machine, MQube, MPowered Mortgages, Mortgage Loans, FinTech, Vault Core, Underwriting, CloudMQube, the parent company of MPowered Mortgages, has partnered with Thought Machine, the cloud-native core banking and payment technology company.

The partnership will help banks, building societies, and non-bank lenders to make real-time decisions on mortgage loans, giving end-customers more timely and accurate loans and mortgages.

The partnership will offer banks, building societies, and non-bank lenders a holistic solution that utilises both Thought Machine’s core banking platform, Vault Core, and MQube’s AI-driven mortgage platform to ease the core banking and mortgage journey, from origination to underwriting and account management.

MQube’s mortgage origination platform, adopted by its prime residential lending brand MPowered Mortgages, uses artificial intelligence and data to simplify the mortgage journey.

Vault Core allows lenders to build, test and launch tailored products designed specifically to meet customers’ needs, from green mortgages to customised savings accounts. It operates in real-time while its microservices architecture allows institutions to scale at speed.

Stuart Cheetham, CEO at MQube and MPowered Mortgages, said, “Our mortgage platform, which is available to all mortgage brokers nationwide, has changed the mortgage process for the better and improved the way our brokers do business. We are excited to extend the benefits of our platform to banks, and work with Thought Machine to improve the entirety of the mortgage and lending ecosystem.”

Liam Leahy, Managing Director, Sales, EMEA, at Thought Machine added, “Mortgage customers want a fast, simple, and efficient service – which existing, outdated technology platforms are failing to deliver. By offering personalised products that can meet customers’ specific needs, mortgage providers will be able to grow their customer bases and increase their market share. We are looking forward to working with MQube in streamlining and simplifying the entire mortgage process for providers and their end customers nationwide.”

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