The mortgage origination software house will develop a buy-to-let platform for the bank.
BEP Systems has been appointed by the State Bank of India UK (SBI UK) to provide a systems solution for its buy-to-let lending platform.
BEP Systems will use their Apprivo2 platform to deliver an integrated lending origination solution from initial application, decision in principle, packaging and underwriting through to completion of the mortgage.
The platform will also include interfaces with Quest for valuations and Experian for credit checks.
Kalpesh Avasia, ED and COO at SBI UK, said: “When looking for a software partner, we were impressed with the slick system of BEP Systems for delivering a state of the art buy-to-let originations platform.
"The solution is very flexible at integrating with existing back office systems and generating new processes to increase the efficiency of our lending."
Chris Little, managing director of BEP Systems, said: “I‘m delighted to be working with such an interesting and well-established lender as SBI UK.
"This is an exciting project and demonstrates the highly regarded reputation BEP Systems now have in the lending sector to deliver specialist systems for a variety of mortgage companies.
"We will use our Apprivo2 platform as the basis of the development and customise it to suit the requirements of SBI UK.
"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 for a wide spectrum of clients.”
SBI UK operates via intermediaries, and its branch network, all of which will see positive improvements to processes as a result of the new systems.
Products currently provided by SBI UK include buy-to-let mortgages to portfolio landlords and individuals including via limited companies, SPV’s and ex-pats are also catered for. Property types include lending on HMOs, houses and flats throughout England and Wales.
The new lending processes are likely to be live in Q2 2020.