Smartr365 has announced an imminent partnership with a major mortgage lender, which is set to take the platform to 62% market coverage by volume.

At an event at the Post Building in Holborn, London, the mortgage platform stated that it currently supports 3,500 UK brokers, with plans of reaching 6,000 by the end of the year. This would take the proportion of UK brokers supports by Smartr365 from approximately 15% to 30%.

The major lender is yet to be named.

The event follows the announcement last month that Nationwide, a recent Smartr365 partner, approved the roll out of Experian’s open banking solution to mortgage applicants who apply via any intermediaries that use Smartr365, following a successful pilot scheme.

The bank transaction data is automatically categorised to make it easier to interpret and is formatted into an Experian branded bank statement. The partnership removes the requirement for mortgage applicants to manually obtain bank statement to share with their broker, saving them 30 minutes per application.

Chief executive officer and founder of Smartr365, Conor Murphy, said: “With the mortgage market once again moving at pace, we are reminded of the importance of time-saving technology tools that streamline the entire process and keep activity flowing smoothly.

“It was fantastic to hold our joint event with Nationwide to showcase what our end-to-end mortgage platform is capable of, and with another significant lender integration to be announced very shortly, we will be soon be connected with almost two-thirds of the entire market. As we approach this milestone, we expect even more lenders to get on board with the aim of achieving a completely digital homebuying journey in the not-so-distant future.”

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