Why online mortgage lending is failing in the UK

27/02/2023Article

Technological innovations should make selling mortgages online very easy, yet unlike other financial products, the transition to digital is not happening. Maria Harris, Director at Digital Cat Consultancy, explains why.


Talking about technology and the financial services industry have gone hand in hand for decades. The launch of online self-service, contactless payments, and more recently open banking and neobanks have moved the customer experience on by leaps and bounds so you’d be forgiven for thinking mortgages must be easier now too, but sadly that’s not quite the case. Despite the advancements we’ve made with cloud native banking platforms, connecting services via APIs, and automating aspects of decision making, the process of getting a mortgage appears stubbornly resistant to innovation. 

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