For more than 50 years, Hodge has been making a difference to its customers’ lives, helping them achieve their financial goals with our personal savings accounts, tailored mortgage options and bespoke real estate finance (commercial property development and investment) solutions.
Over the years Hodge has created specialist mortgage products to support borrowers up to and into retirement (age 21 to 95) who don’t fit the mould. It has used its experience to grow its product offering to better serve brokers and customers alike.
Hodge is 79% owned by the Hodge Foundation, a charity supporting welfare, medical and academic endeavours.
The challenge
Hodge needed to simplify how it manages its mortgage portfolio by using a single loan management platform, whilst also bringing servicing and collections in-house to improve processes and allow for more rapid product development.
The mortgage technology market is traditionally slow, time-consuming and lacking in innovation. Hodge came to Lenvi to inject a digital-first approach and transform how they service their customers.
The solution
Lenvi has a rich history of innovation and is a market leader in consumer credit technology. Some of the largest loan books in the UK are administered on the Lenvi's platform making it the perfect choice for any company looking for a mortgage platform to support and sustain its growth. The functionally rich API-led system allows users to better serve their customers quickly and efficiently, with up-to-date data at their fingertips.
By choosing Lenvi, Hodge was able to benefit from the platform’s existing integrations to a wide range of data sources and services to support the end-to-end lifecycle. The platform is designed as a ‘real world’ database, delivering a true, single customer view enabling clients to view an individual and establish whether they are a customer, joint borrower or guarantor, with full exposure to all their mortgage/loans (active and complete).
The results
By integrating with their existing mortgage origination system, all new Hodge customers could quickly benefit from an improved user experience.
The second phase saw the migration of portfolios, including from external servicing partners to the platform, bringing servicing and collections under Hodge’s direct control and delivering automation to previously inefficient manual processes whilst mitigating the expense of servicing and maintaining legacy platforms. This enables all customers to connect directly to their online accounts, make payments, and manage their loans. The Lenvi system provides the bank access with real-time data monitoring tools, allowing it to improve how it identifies and manages risk for its mortgage customers, reducing operational costs.
Hodge’s objective to design products with the end customer in mind is fully supported by our system’s powerful functionality which allows Hodge to quickly launch new products to market, streamline processes, and improve customer experience.
Hear from our clients
Lenvi supported Hodge to inject a digital-first approach and transform how they interact with customers.
Our partnership with O2 marks a significant move for us into a new market and is our first delivered project which integrates the specialisms of Lenvi IT services. Business loan provision is diversifying and more organisations are needing the support of dedicated loan management systems to support their new initiatives. We look forward to working with the company in its new offering to help businesses across the UK spread the cost of their device upgrades with an affordable loan."
Richard Carter
Lenvi
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