London, 16th November 2017 – EDM Mortgage Support Services (MSS), part of EDM Group, has won the category for the Best Use of Collaborative Technology at the annual Mortgage Finance Gazette Awards. The award was made in recognition of the development of EDM’s PRISM platform and its adoption by Nationwide Building Society.
EDM’s PRISM (Property Risk Information Sharing in Mortgages) technology is a revolutionary digital platform that enables lenders to assess property risk in seconds through a combination of the lender’s own data sources and business rules, creating an online hub through which valuers and conveyancers can share and complete formal assessments.
Nationwide was the first mortgage lender to go-live with PRISM. The process of assessing how much money should be lent on a property used to take several days but by using PRISM, Nationwide is able to reduce this time to less than 30 seconds.
Joe Pepper, Managing Director, EDM Mortgage Support Services, commented: “We are thrilled that our work with PRISM and Nationwide has been recognised with this latest award. Technology and the innovation it brings is critical to the UK mortgage sector’s ability to meet the growing challenges of heightened regulatory, anti-fraud and transparency requirements. Nationwide has taken the first step to meet these challenges. Market participants are looking for solutions that can drive down costs and radically improve communication among all parties in the mortgage chain. EDM MSS’s PRISM product represents a significant step towards achieving those aims.”
EDM MSS PRISM was also shortlisted for two non-industry specific national technology awards in 2017, in the ‘Innovation of the Year’ at the National Technology Awards 2017, and Highly-Commended in the Best Large Enterprise Digital Project at the Digital Leaders in Technology Awards 2017.
The Mortgage Finance Gazette Awards recognise the great and the good within the mortgage industry within a range of categories to cover different areas. These include innovation, community service, corporate social responsibility, customer service, best use of arrears management, best use of technology, best anti-fraud service as well as legal and conveyancing categories.
Notes to editors:
About EDM Group: Headquartered in London, EDM Group employs over 1,400 people across the UK and US. For the financial year 2014/2015, the firm reported an annual turnover of £70+ million. In September 2015, EDM Group was ranked 43rd in the annual Sunday Times Hiscox Tech Track 100 league table, up from 57th in 2014 – a reflection of the fast-growth success of the firm and its position as a leading, global information management and digital transformation specialist. In June 2016 EDM Group was ranked number 1 in the annual Sunday Times HSBC International Track 200.
EDM Group combines best-practice consulting and technical experience to develop bespoke outsourced solutions for a range of clients across the private and public sectors. The success of the firm has been built on its powerful Digital Mailroom document scanning and storage capability, which continues to be a core, in-demand product offering. EDM Group’s growing client base spans sectors including financial services, automotive, professional services, private healthcare, utilities, charities, and the public sector (central and local government, and NHS). Specific clients include HMRC, Legal & General, Friends Life, Bupa, Avis Budget EMEA Ltd, Nationwide Building Society, Barclays, Santander, Companies House, Lloyds Banking Group, Grant Thornton and healthcare providers including NHS Trusts and BMI hospitals.
EDM Group is accredited to ISO standards for Information Management Systems (ISO27001), Environmental Management (ISO14001) and Quality Management (ISO9001).
About EDM Mortgage Support Services: EDM MSS offers a range of products to help clients manage the various stages of the mortgage process. It enables lenders to exchange data with third parties such as surveyors, solicitors, estate agents and asset managers securely and cost effectively. The platforms, including Residential and Commercial Valuation Exchanges and LPA Exchange support key transactions within mortgage lending such as valuation and asset management instructions. EDM MSS’ customers include Nationwide, Virgin Money, Santander, Bank of Ireland, Barclays and Lloyds Banking Group.
For media enquiries:
Hugh Fasken / Judith Massey / Stephen Sheppard – Citigate Dewe Rogerson, 020 7638 9571