#Open Banking

SBS & Koodoo launch a digital re-mortgage tool

Mar 16, 2021
Sopra Banking Software

London, March 16th, 2021 – Sopra Banking Software, the partner of choice for more than 1,500 financial institutions worldwide and the FinTech Koodoo announce today they have teamed up to help mortgage lenders offer their homeowners a transparent, competitive and fast re-mortgage journey.

Sopra Banking Software (SBS) and Koodoo are pleased to announce they have entered into a strategic partnership, combining SBS’s industry leading end-to-end mortgage solution with Koodoo’s world class, next generation technology services. Initially, the partnership will develop and deliver a digital re-mortgage tool. The tool allows homeowners to complete a re-mortgage with their lender in minutes, entirely digitally.

With technology playing an increasingly critical role in every aspect of business, lenders recognise that they need to accelerate the development of digital solutions to ensure they remain competitive. The SBS-Koodoo partnership brings together deep skills in business and technology strategy, product ideation, technology development and deployment to help support lenders through successful transformations.

“The SBS-Koodoo partnership is a powerful combination. Koodoo’s understanding of complex digital mortgage interactions, its deep engineering expertise and agile, collaborative approach is extremely complimentary to how SBS’s digital mortgage solution and team works. We believe this helps to generate industry leading technology products and platforms” said Richard Broadbent, Sopra Banking Software’s Managing Director for the UK. “I’m also delighted that this partnership was cultivated through the Sopra Steria Chemistry programme, which allows us to rapidly on-board high-value partners.”

Seb McDermott, Co-founder and CEO of Koodoo comments: “We are really excited about our partnership with SBS. The journey we have developed will help customers switch onto a new product digitally in 5 easy steps and help lenders get to 100% customer retention efficiently, while delivering an outstanding customer experience.”

About Sopra Banking Software 
Sopra Banking Software is the partner of choice for more than 1,500 financial institutions worldwide.
The rich variety of our solutions, the strength of our conviction and our passion for innovation enable us to support our clients on a daily basis and in their future projects, as well as in their goals regarding financial inclusion.
Our customers, based in over 80 countries around the world, benefit every day from our technologies and software, as well as the expertise of our 5,000 employees.
Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in consulting, digital services and software development. With more than 46,000 employees, the Sopra Steria Group generated a turnover of €4.3 billion in 2020.
For more information, follow us on LinkedIn, Twitter & Instagram or visit www.soprabanking.com

About Koodoo 
The Koodoo digital mortgage platform helps mortgage lenders originate digitally. We harness data to save application time and inform lending decisions, we connect customers and lenders in real time with our beautifully designed mortgage journeys and our recommendation engine matches borrowers to the right mortgage. Koodoo was founded in 2019 by CEO Seb McDermott and Chairman Dan Cobley, former MD of Google UK and Ireland, and is backed by the UK’s leading fintech venture builder Blenheim Chalcot.

Press Contacts:
Sopra Banking Software : Stéphanie Decortiat, +33 (0)6 71 56 43 10, [email protected] /