FR: Andy, can you tell us a bit about your background and role at Paragon?
I’m currently strategic transformation manager for mortgages at Paragon Bank.
The main focus of my role is managing different aspects of a project to develop and implement Paragon’s new mortgage originations platform.
In terms of my background, I've been with Paragon since September 2021 and, prior to that, I’ve worked in financial services for almost 30 years - crazy when I think about it! During this time I’ve gained experience in different areas, including sales, branch management, underwriting and credit risk.
FR: Can you tell us more about the platform?
Essentially, the platform is all about making it quicker and easier for brokers to place mortgage business with us. We’ve done this by focusing on three areas - certainty, transparency and speed.
We’ve integrated our system with trusted third parties such as Hometrack, Experian and Companies House, enabling us to go straight to source to access info that is required to process a mortgage application. By pre-populating data into the application, we’re saving time and reducing the potential for errors, increasing certainty.
As well as thinking about how we access information, we’ve also looked at what information we need. By that I mean tailoring the application form so we’re only asking for info that is required for that specific case and asking for it once.
We’re using technology that harnesses AI to automate previously manual tasks - extracting, analysing and validating data that is used by underwriters. This means that our underwriting team can really focus on things that add value to brokers.
To increase transparency, we’ve enhanced case tracking so brokers always know where applications stand.
FR: What are the drivers?
Paragon has been in the buy-to-let market since the very start and while that means that our knowledge and experience really is second to none, we have to ensure we remain ahead of the market.
This covers so many different aspects of a business but none more so than technology; it is now so embedded into almost every aspect of our lives that companies that don’t actively keep pace will struggle.
Our teams have worked hard to provide a great service, but we knew we could be even better if the tech worked harder for us and our customers.
FR: What stage is the project at now and when can brokers start using the new systems?
We launched the initial version of the system in September 2024. This pilot phase was so valuable because working with brokers meant that feedback was always constructive and focused on helping us to deliver something that would work well in the ‘real world’.
After a successful test phase, we began rolling the system out more widely in January 2025, working with some of the networks and clubs we’ve built strong relationships with to ensure a smooth transition.
We are now rolling out the platform across the market so any brokers that place business with us will notice the difference.
FR: You mention feedback, how this shaped the platform?
Broker input has been absolutely central to the project - I can’t think of one element of the platform that hasn’t been shaped by brokers in some form. We’ve held live demos, in-person sessions and virtual workshops to gather feedback at every stage.
This approach has been particularly important because being a total transformation programme means that it spans years. We all know how the market changes at pace, so what brokers want could well change over that time.
This means that we're making regular enhancements based on real-world use, with frequent updates scheduled every month to keep improving the experience. The feedback has largely been positive but I think you learn most when the approach is questioned or challenged.
FR: Can you give us an example?
One example is the property schedule upload. Some brokers told us that the new format was different to what they were used to, perceiving it to be more onerous. While I can understand why this may seem to be the case, it’s more that we’re now being clearer and asking for everything that we need upfront. This means that there’s fewer questions down the line, reducing back and forth and ultimately leading to quicker offers.
This feedback highlighted how we need to take brokers on the journey with us. It’s about showing them that they are at the centre of what we’re working towards and that what we’re doing is all about making their lives easier when it comes to working with us.
FR: What challenges have you faced in delivering the project?
In terms of this project, I think one of our main strengths, our clear focus on being a specialist lender, has actually been one of the key challenges. This might sound strange, but with specialism there is often lots of detail and variation and all sorts of other layers, and all of this can lead to complexity.
For me though, complex doesn't necessarily mean difficult, and it definitely shouldn’t mean it’s a painful process for the brokers we work with. To overcome this we took a step back and analysed what we do, how we do it and perhaps most importantly, why we do it. Any of the layers that could be removed, or at least simplified, became the focus of our work.
FR: How do you see mortgage tech evolving in the coming years?
When you think back to how far we’ve come since Paragon first started writing buy-to-let mortgages in the mid-1990s, you can see how technology has already transformed mortgage lending. Looking forward, I think further advancements in technology will benefit the industry in a few key areas.
Building on the work we’ve done, I think we’ll see further improvements in terms of reducing admin for brokers. Examples could include fewer physical documents as data replaces the need for manual checks, automated affordability checks, digital ID verification and smarter case tracking.
I think we’ll also see faster decision-making as more lenders use tech to leverage real-time data to make quicker, more robust credit decisions.
And from here, closer collaboration between different aspects of the mortgage chain where estate agents, lenders and conveyancers integrate more seamlessly to speed up completions.
FR: What’s next for Paragon’s digital transformation?
As I mentioned, we’re currently rolling out the platform across the market. Beyond that, we plan to expand the capability of our systems so more aspects of our lending can benefit from the technology.
Collaborating with third-party tech providers has been fundamental to the work we’ve done and is one of the things that sees us deliver a market-leading experience. We plan to explore ways we can integrate further to become even more efficient.
