United Trust Bank launches the ‘UTB Secure Chat Hub’ as it continues its ‘#BrokerSummerSupportPackage’ for mortgage intermediaries

19 August 2020

United Trust Bank (UTB) has launched its ‘UTB Secure Chat Hub’ providing brokers and customers with a straightforward and secure way of communicating with the Bank during mortgage applications. It is the latest addition to UTB’s successful #BrokerSummerSupportPackage.

Using the new App, which is available to download for free from usual App stores, customers can easily communicate with the Bank, upload files such as bank statements and payslips, e-sign documents and scan documents for facial recognition ID verification as well as complete security checks saving them time and inconvenience. A soon-to-be-released update will also allow Introducers to be able to register, refer cases and forward documentation, features key to the Bank’s digital strategy. The system also provides a higher degree of data security than email communications.

The new UTB Secure Chat Hub is powered by Nivo’s Secure Messaging platform but is United Trust Bank branded ensuring a consistent journey for UTB customers. A further advantage of the new App is that information can be securely shared by lenders, brokers, lawyers and other professionals signed up to the network. For example, ID verification can be easily and securely passported between UTB and lawyers acting for the Bank, and with a customer’s specific authority, documentation can be transferred between broker and lender to speed up the application journey, providing all parties are using the same system.

United Trust Bank has led several digital firsts by implementing FinTech solutions in the specialist lending market. They recently launched digital security checks and have previously implemented biometric ID verification for first and second charge mortgages and bridging finance as well as automatic passporting of ID verification results to panel lawyers in dual representation bridging cases.

Previous elements of UTB’s #BrokerSummerSupportPackage, launched in July and aimed at helping brokers to write more business in these difficult times, have included increasing the maximum LTV from 65% to 75% for self-employed borrowers, including 50% of regular additional income in calculations, enhanced criteria for professional contractors, and a limited edition Second Charge product for customers with historic blips on their repayment record. The moves have been welcomed by intermediaries and packagers in the specialist lending market.

Buster Tolfree, Commercial Director – Mortgages, United Trust Bank, commented: “This latest FinTech development from UTB makes application processing quicker, simpler and more secure for customers, introducers and the Bank and will revolutionise the way we communicate with our mortgage applicants and the way we manage our workflow within the team. The system is fast, flexible and very user friendly. Our suite of innovative FinTech features makes several previously onerous tasks quick and simple for customers to complete safely and securely in their own homes.

“Many brokers and lenders have had to change the way they work to overcome the challenges presented by the Covid-19 pandemic. UTB continued to lend throughout the lockdown, sometimes using manual workarounds when digital solutions would have been better. Introducing the Secure Chat Hub enables more elements of our application process and communications to become digital. Importantly, this means that we can offer a better, slicker and more efficient application process even before all of the team are working back in the office. I’m sure this newest service enhancement will be another welcome addition to our successful #BrokerSummerSupportPackage.”