United Trust Bank (UTB) has successfully integrated a new technology platform into its Asset Finance operations transforming the way the Bank processes proposals and broker pay-outs.
UTB has partnered with leading Asset Finance software specialist Alfa and enterprise automation platform Workato to create an integrated digital solution offering a variety of powerful tools and apps which improve the funder’s service levels, speed of decisions and payouts and support UTB’s ambitious growth plans.
UTB’s aim was to integrate and deliver various best in class apps and specialist fintech which are best suited for making transacting business with UTB as quick and easy as possible. New functionality includes instant credit check referencing, banking system integration for faster broker payouts and deposit payments up to £25,000 by direct debit. The system also provides UTB with a variety of powerful management information tools.
Several exciting enhancements are already being developed. These include the ability for UTB to auto-underwrite straightforward proposals falling within pre-set parameters, giving brokers instant decisioning on some deals. In addition, the integration of APIs will allow UTB to connect to brokers’ proposal systems, streamlining the application journey and removing broker frustrations such as having to double-key deals.
UTB Asset Finance describes its approach as ‘people powered technology’ with the focus still firmly on the relationship the Bank has with its broker partners and its commitment to providing direct access to underwriters. The investment in fintech has delivered an intuitive, flexible and future proof system which allows the Bank to continue enhancing the broker journey with innovative features and enable its team members to spend more of their time using their skills and knowledge to add real value to the process in ways only humans can.
Louise McIntosh, Head of Operations - Asset Finance, United Trust Bank commented: “This marks the beginning of an exciting new chapter for UTB’s Asset Finance business. It’s one thing to provide a quick service now and again, but for brokers, consistency and reliability is key. This investment in the latest technology from Alfa, Workato and other fintech leaders gives us the ability and all important resilience to deliver an outstanding experience time after time.
“This digital revolution increases our capability, sets up our future growth and enables our highly skilled people to focus on the tasks which really add value for brokers and customers when dealing with UTB.”
James Paul, Chief Delivery Officer, Alfa, commented: “We’re delighted to be at the heart of the integrated solution UTB has put in place to enable their ambitious growth plans. By selecting Alfa Systems and using the Alfa Start methodology alongside other modern platforms, they have been able to deliver a true digital platform in a compressed timeframe which will deliver excellent service levels to brokers.”
ENDS
For further information:
Jason Wyer-Smith – 42 PR: 07824 818242
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United Trust Bank
United Trust Bank (UTB) is an expanding specialist bank providing a wide range of secured funding facilities for individuals and businesses and deposit accounts for individuals, businesses and charities.
The Bank has dedicated divisions providing development finance, bridging finance, structured finance, asset finance and mortgages and their in-depth knowledge combined with commercial awareness makes it the lender of choice for finance brokers, developers and individuals seeking a high quality, bespoke service and a reliable source of funding.
UTB was named ‘Specialist Bank of the Year’ at the Bridging and Commercial Awards in 2021, 2019, 2018 and 2016 and is the only lender to have won the award four times.
United Trust Bank was incorporated in 1955. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. UTB is covered by the Financial Services Compensation Scheme and the Financial Ombudsman Service. The Bank is a member of UK Finance, a Patron of the National Association of Commercial Finance Brokers (NACFB), a Member of the Finance & Leasing Association (FLA), the Intermediary Mortgage Lenders Association (IMLA) and a Member of the Association of Short Term Lenders (ASTL).