Parseq PLC (LON:PSQ) is to help bring the online experience to mortgage customers as it announced the first deal of its kind today.
The firm, which specialises in mobile and online banking software, has now won its first contract in the mortgage industry and signed a deal with Homeloan Management Limited - known as HML.
It is to build and host the mortgage industry's first white-labeled online self-service platform for mortgage account holders.
Parseq's CEO said: "HML is our first mortgage client and it reflects the increasing number of enquiries that we are receiving from across the financial services sector seeking to use the online channel for more than just their core banking products.
"We expect to see demand for online self-service platforms to build as financial service providers seek ways to enhance engagement with their customers."
HML is a leading financial outsourcer, managing around £43 billion worth of mortgage assets and handles customer enquiries on behalf of clients for nearly 400,000 live mortgage accounts.
Parseq's new platform will enable it to deliver a mortgage management tool for its clients' customers to view various mortgage account details online.
The platform will be upgraded later this year to include an online payment facility.
Indeed, Parseq said that HML had already secured its first user for the self-service platform - Amber Homeloans, whose managing director Paul Fenn said today:
"Online banking has been available for many years so it is a logical step for the mortgage industry.
"HML's white-labeled service will be easy for us to integrate and will enhance our customers' experience. This consideration was vital to us taking on the service."