BEP Systems appointed by Jordan International Bank Plc (JIB) to provide system solutions for its new mortgage and buy-to-let lending platform

BEP Systems (now known as finova), the mortgage origination software house, has been appointed by Jordan International Bank Plc (JIB) to provide system solutions for its new mortgage and buy to let lending platform.

Regulated by the Prudential Regulatory Authority and the Financial Conduct Authority, JIB have Permission to carry out Regulated Home Finance lending in the UK and have plans over time to launch several innovative product lines.

BEP has developed systems to cater for first charge and buy to let lending with complex affordability modelling across multiple asset classes. Customising their Apprivo2 software platform, the new system allows for seamless two-way Integration with the Finastra core banking engine for loan on-boarding as well as pre-populating application details for existing JIB customers. Credit reference integration with Experian and currency conversion are also catered for.

Hichem Turki, Head of Private Banking at Jordan International Bank, commented:

“We were very impressed with the credentials of BEP Systems as they work with other established UK mortgage and buy to let lenders. Their knowledge and understanding of the business requirements for our new and innovative range of products as well as the product flexibility to tailor our regulated lending offerings to meet our customer needs were excellent.”

Sanjay Rajagopal CIO at Jordan International Bank observed:  

“We went through a rigorous evaluation of system capabilities of several solutions and BEP’s solution had a modern design and robust integration capabilities to back-office systems that can introduce efficiency and automation in our Mortgage operations, which influenced our decision making and the final choice of the solution.”

JIB intends offering its regulated Home Finance offering through its Private Banking arm. Their focus is on providing a level of service that is very personalised, efficient and assists international customers looking to purchase a property in England and Wales. They will consider financing first charge residential mortgages, with loans of between £150,000 and £8 million, both for owner occupation and investment (buy to let) purposes.  

Chris Little, Managing Director of BEP Systems, said:

“I‘m delighted to have worked with an established UK bank developing new products and services for its international client base. Our Apprivo2 platform has been customised to suit the challenging requirements of the new products to be offered by JIB.  We believe Apprivo2 is one of the fastest growing systems in the UK serving specialist finance lenders and continues to provide cutting edge software solutions.

“We have also managed to contract and commence delivery of this project during the Covid-19 lockdowns with staff working remotely, demonstrating the flexibility of our staff at being able to continue to operate at full capacity to support our existing customers whilst continuing to work on new projects.”