UTB launches new platform to enhance proposals and broker pay-outs

United Trust Bank has integrated a new technology platform into its asset finance operations, enhancing the way the Bank processes proposals and broker pay-outs.

UTB has partnered with asset finance software specialist, Alfa, and enterprise automation platform, Workato, to create an integrated digital solution offering a variety of tools and apps which improve the funder’s service levels, speed of decisions and payouts.

New functionality includes instant credit check referencing, banking system integration for faster broker payouts and deposit payments up to £25,000 by direct debit.

Other enhancements are now being developed, including the ability for UTB to auto-underwrite straightforward proposals falling within pre-set parameters, giving brokers instant decisioning on some deals. In addition, the integration of APIs will allow UTB to connect to brokers’ proposal systems, streamlining the application journey and removing broker frustrations such as having to double-key deals.

Louise McIntosh, head of asset finance operations at United Trust Bank, commented: “This marks the beginning of an exciting new chapter for UTB’s asset finance business. It’s one thing to provide a quick service now and again, but for brokers, consistency and reliability is key. This investment in the latest technology from Alfa, Workato and other fintech leaders gives us the ability and all important resilience to deliver an outstanding experience time after time.

“This digital revolution increases our capability, sets up our future growth and enables our highly skilled people to focus on the tasks which really add value for brokers and customers when dealing with UTB.”

James Paul, chief delivery officer at Alfa, commented: “We’re delighted to be at the heart of the integrated solution UTB has put in place to enable their ambitious growth plans. By selecting Alfa Systems and using the Alfa Start methodology alongside other modern platforms, they have been able to deliver a true digital platform in a compressed timeframe which will deliver excellent service levels to brokers.”