Jordan International Bank selects BEP Systems for new mortgage service

By Megha Bhattacharya

Mortgage origination software provider, BEP Systems has been selected by Jordan International Bank Plc for providing system solutions for its mortgage and buy-to-let lending platform. BEP has been enhancing its buy-to-let offering with a new system that allows two-way integration with the Finastra core banking engine for loan on-boarding as well as pre-populating application details for existing JIB customers. Credit reference integration with Experian and currency conversion are also catered for.

Hichem Turki, Head of Private Banking at Jordan International Bank, commented, “We were very impressed with the credentials of BEP Systems as they work with other established UK mortgage and buy to let lenders. Their knowledge and understanding of the business requirements for our new and innovative range of products as well as the product flexibility to tailor our regulated lending offerings to meet our customer needs were excellent.”

Jordan International Bank aims to offer its regulated Home Finance offering through its Private Banking arm. The Bank is regulated by the Prudential Regulatory Authority and the Financial Conduct Authority and has the permission to carry out Regulated Home Finance lending in the UK.

Sanjay Rajagopal CIO at Jordan International Bank stated, “We went through a rigorous evaluation of system capabilities of several solutions and BEP’s solution had a modern design and robust integration capabilities to back-office systems that can introduce efficiency and automation in our Mortgage operations, which influenced our decision making and the final choice of the solution.”

Recently, BEP Systems announced the development of functionality of borrower portals for assisting its clients in extending their self-service capability amidst the COVID-19 pandemic. It added the capability for requesting a mortgage holiday with a full online service request, reacting to customer demand, while working with its client Link Mortgage Services in the UK.

Chris Little, Managing Director of BEP Systems, said, “I‘m delighted to have worked with an established UK bank developing new products and services for its international client base. Our Apprivo2 platform has been customised to suit the challenging requirements of the new products to be offered by JIB. We believe Apprivo2 is one of the fastest growing systems in the UK serving specialist finance lenders and continues to provide cutting edge software solutions.”

“We have also managed to contract and commence delivery of this project during the Covid-19 lockdowns with staff working remotely, demonstrating the flexibility of our staff at being able to continue to operate at full capacity to support our existing customers whilst continuing to work on new projects.”