KENSINGTON MORTGAGES
that automation needs to be targeted , rather than being a cure-all that can be thrown at any problem .
“ I think sometimes automation is seen as a panacea ,” he says . “ We see it as one of a number of solutions , not a silver bullet .”
“ The first question when one deals with automation is ‘ are we automating something that is inefficient that needs fixing first ?’ So , is the process correct ? Is it optimised ? Is it effective in terms of providing the right information to customers or the right information back into the organisation ? Only when we feel that the process and procedures are correct do we look to automate it to make it slicker . Particularly in areas where there ’ s no value-add , where you ' re passing information from one place to another , or when there ’ s a procedure that you can improve timeliness or accuracy … that ' s when we look to put in automation .
Digital transformation becomes a lot harder as lenders scale When you have a mortgage book that ’ s worth £ 5bn , as Kensington does , it becomes much more complex for a lender to achieve complexity at scale . New technology and new platforms become mammoth undertakings . Part of the reason that incumbent banks and lenders struggle so much with legacy technology is that , as an organisation scales , it becomes much easier for those at the top of the hierarchy to dismiss large digital transformation projects as too costly , too complex , too time-consuming and too risky .
But , of course , the success that you derive from digital transformation projects relies on the approach you take from the outset , and the partners with whom you choose to align yourself .
“ I ' ve always been very keen that you don ' t continue to just bolt on new things after new ,”
“ Being more tailored and more personalised in our product set allows us to have greater insight into the customer ' s needs and the risks around that ”
MARK FOULSHAM CHIEF OPERATING OFFICER , KENSINGTON MORTGAGES
Foulsham says . “ That way , you ' re just building up technical debt and building up complexity .
“ I ' m a big believer in reusing your previous investments as well as modularisation of solutions and technology . So , trying to make sure that platforms and systems are coupled in a way that are effective in terms of data transfer and functional cohesion , but aren ' t too tightly bound in a monolithic sense . That means that every time you make a change , it has a ripple effect and takes a long time to deploy . I think , when we look at scalability and complexity , it comes down to making sure the solutions are as elegant as possible , as simple as possible and no more complicated than they have to be . The market is changing so quickly that if you over-engineer something , you ' ll find that by the time you ' ve deployed it , the solution isn ' t actually fit for purpose in the way it was originally .”
Kensington has turned to Paris-based Sopra as its long-time primary technology partner . In recent times , Sopra has deployed a new frontend platform that has allowed Kensington to realise better and more agile working . For example , before that platform came in , it would
60 November 2022