Aldermore's Acumen recognised as it scoops industry award

Aldermore's Acumen recognised as it scoops industry award




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Commercial funder Aldermore has won an industry award for the successful development and implementation of its commercial mortgage broker portal at this year’s Financial World Innovation Awards. 


The portal, called Acumen, is the first fully-automated commercial mortgage enquiry system to be available in the UK.


Aldemore was presented with the award as the winner of the ‘Innovation in the delivery of financial products’ category at the Financial World Innovation Awards 2012, held at London’s Grand Connaught Rooms last night.


The challenger bank launched Acumen in March this year and the new system has garnered critical acclaim within the commercial mortgage market. 


As he collected the award from the event’s host, Tony Hawks, Aldermore Commercial Mortgages’ Managing Director Rob Lankey said: “Acumen represents a step-change in the commercial mortgage market; for the first time brokers can submit an enquiry online and receive a heads of terms document immediately, without the need for any human intervention.


“The development of Acumen has taken considerable commitment and dedication from a team of experts at Aldermore; winning this award is testament to all their hard work. We’re now working on the next phase of enhancements to ensure Acumen continues to be a cutting-edge system.”


Speaking about the Acumen system, Kit Thompson, Head of Bridging and Commercial at Brightstar Financial, said: “I’ve been using Aldermore’s online portal Acumen since its launch and it has proved to be a great way to ‘fast-track’ our commercial enquiries to indicative offer stage. 


“It enables us to key on a case and then the system initiates a credit search and online ID checks. Assuming nothing adverse is found, it produced a heads of terms document, which enables us to go back to the introducing broker or client with indicative terms very quickly. 


“The fact that we can transact with Aldermore 24/seven is a great USP for Aldermore and helps strengthen our own proposition.”


Doug Hall, Owner at packager 3mc, added: “Acumen is not an evolution, it’s a revolution in the commercial mortgage market. Until now the perceived wisdom has been that it’s impossible to develop an online system which provides genuine decisions, because of the complexity of commercial mortgage deals. Aldermore has turned conventional thinking on its head.


“The appeal of Acumen is that it fast-tracks straightforward loan applications, letting brokers and their clients know immediately if it’s worth progressing with a deal, without needing to wait for an answer. 


“I certainly found the system easy to use and it was good to know that I’d still have direct access to lending managers if I needed to check criteria or talk about specific aspects of a deal.”

 

1 Comments

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    Simon

    It is so refreshing to see lending getting back to its logical beginnings. (1) Is the risk good. (2) Is the client sane. (3) If it goes wrong can we get our money back without too much difficulty and expense. If YES to 1,2 and 3 then make the loan! It worked very well for all main main big banks over the decades before they started employing kids fresh out of uni on low wages using tick boxes. All the banks built up their initial wealth on this logical system but they seem to have forgotten this. Well done Aldermore for putting this kind of logic into a computer program. It's the only way to get this market moving.

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