Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Atom Bank Focuses on Speed and Automation in Mortgage Lending

Chris Storey, chief commercial officer at Atom Bank, has outlined the bank’s commitment to speeding up mortgage transactions and improving the experience for both brokers and borrowers. Storey also highlighted Atom Bank’s use of automation and technology to streamline processes in the residential and commercial lending sectors.

Storey, who has previously worked at Northern Rock, Tesco Bank, and Belmont Green, now leads Atom Bank’s efforts to drive revenue and manage its portfolio of lending products. This includes funding buy-to-let and SME assets through partnerships with Landbay and Funding Circle.

He stated that Atom Bank is focused on delivering a better experience for customers and brokers by reducing the time it takes to complete housing transactions. Storey noted that the bank has invested in technology and automation to make the mortgage process more efficient, allowing brokers and borrowers to receive information more quickly.

In addition to his role at Atom Bank, Storey has joined the executive committee at the Open Property Data Association. He aims to support industry initiatives that will accelerate the end-to-end mortgage journey for customers.

Storey also reflected on the challenges faced by the financial services sector, including the impact of the financial crisis and subsequent regulatory changes. He observed that the industry has become more resilient to market shocks and that technology, particularly artificial intelligence, presents both opportunities and challenges for the future.

These developments are relevant to UK letting agents and inventory clerks, as faster and more efficient mortgage processes can help speed up property transactions and reduce delays in the rental and sales markets.