BancTec launches new product to help clients offer the best mortgages

BancTec launches a new mortgage product to help packagers and lenders offer the best mortgages to their customers.

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* Submitter: Banctec [View SourceWire PR Company Listings]
* Release Date: 01-08-2006
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BancTec launches new mortgage product maintenance service to cut costs for packagers and lenders

1st August 2006, Colnbrook, UK – BancTec Limited, the financial systems and outsourcing specialist, today announced a cost effective new mortgage product sourcing service for packagers and lenders. The service allows packagers and lenders to outsource the administration and maintenance of comprehensive mortgage product data, including fully codified product rules that facilitate automated underwriting.

BancTec Managed Services enables packagers and lenders to rapidly search the market for products that best meet customers’ individual needs, in compliance with FSA regulations. Accurate, regulated key facts illustrations for the entire range of lenders’ and packagers’ offerings, including sub-prime and non-regulated products such as buy-to-let and equity release, are generated in an instant.

Upon payment of an initial set-up charge and ongoing maintenance fee packagers and lenders are immediately relieved of the immense, costly and time-consuming burden of regularly updating the product databases they rely on to match available products with customer requirements.

For many years BancTec has delivered effective outsourced services to a wide variety of financial services organisations, according to stringent, pre-defined service level agreements. “BancTec’s experience in managing large-scale, high-volume document and data management projects, specifically in the financial sector, has enabled us to identify this service as one that offers tangible benefits to packagers and lenders operating in the mortgage sector,” commented James Silcock, Business Development Director of BancTec.

“Our clients are saving money, providing accurate, up-to-date information to their customers and prospects in a timely manner, offering a more competitive service and releasing resources to focus on providing outstanding customer service. Ultimately they are in a better position to offer the best mortgage solution to meet individual customer requirements.” stated Silcock.

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About BancTec

BancTec is a worldwide systems integration, business process outsourcing (BPO), software and services company delivering high-volume, mission-critical solutions to automate and streamline data and paper-intensive business processes. BancTec has deployed transaction solutions in over 50 countries and counts among its customers some of the most prominent companies in the world. As a leading worldwide solutions provider, over 50 million documents or items are captured and processed by BancTec systems every day across the world.

BancTec Managed Services combines a unique approach to outsourcing with a high degree of flexibility, scalability and automation to provide unprecedented levels of service in the capture, processing and storage of many types of documents, payments and data sets.

BancTec complements its solution offerings with a line of proven hardware systems, backed by dependable service and support. More at: www.banctec.co.uk

Press enquiries:

James Silcock or Ian Painter
BancTec Limited
Tel: +44 (0)1753 778888
Email: james.silcock@banctec.co.uk or ian.painter@banctec.co.uk