The API-led EQ Borrowbox platform will enable the Cardiff-based bank to launch new products to the market in just days, which the business said would help it to support is ambitious growth plans.
Hodge is the first client to use the innovative API-led EQ Borrowbox platform from EQCS, explicitly created for the mortgage market and launched to new Hodge customers in November 2020.
The EQ Borrowbox platform has so far helped Hodge to deliver an improved customer experience and greater efficiency and control by bringing servicing and collections in house. It has also enhanced risk management thanks to real-time data access.
The flexible functionality of EQ Borrowbox will enable Hodge to digitalise and simplify the mortgage process and quickly launch new products to market in a matter of days, helping support its ambitious growth plans.
As it grows, Hodge’s mortgage customers will benefit from an improved, more efficient customer experience enabling customers to make payments and manage accounts online.
Mark Evans, chief technology officer at Hodge, said: “For over 50 years Hodge has been making a difference to the lives of our customers.
“Investing in the EQ Borrowbox platform will allow us to continually improve the service we deliver to the tens of thousands of customers in the UK who trust us to support them, as well as allowing us to more quickly develop more innovative and exciting products.
“We design our products with the end customer in mind, making things simple and straightforward. By partnering with EQ Credit Services and adopting a digital-first approach, we have been able to streamline our processes and improve functionality giving our customers more flexibility and, going forward, greater access to their mortgage accounts.”
Richard Carter, managing director at EQ Credit Services, said: “We are delighted to see the continued benefits Hodge are experiencing from using the EQ Borrowbox platform and congratulate the teams on this significant achievement amid the disruption caused by the Covid-19 pandemic.”
EQ Borrowbox is part of a wider Mortgage Services offering from EQ Credit Services.
