Leeds Building Society Automates Mortgage Deferrals with IA Technology

For more than 145 years, Leeds Building Society has helped its members save and have the home they want. As the COVID-19 pandemic impacted the UK economy, the Society needed to rapidly respond to Government-led initiatives designed to alleviate financial stress, one of which was the deferral of mortgage repayments. How did the Society respond so quickly, helping to reassure members during this critical time? It extended its Blue Prism digital workforce.

Challenge

For almost a century and a half, Leeds Building Society has prided itself on being an organization with its members’ needs at the heart of the business. In 2020, as the full effects of the COVID-19 pandemic became a stark reality, the UK Government mandated the introduction of a raft of financial stimulus measures. One was to allow homeowners to temporarily pause their mortgage repayments. Following the Government announcement, the Society knew it had to implement the new process quickly as calls from members seeking help and information were already coming in.

Solution

Leeds Building Society had been using intelligent automation for more than five years; it knew the technology had the capacity to both scale up rapidly and bridge process gaps. And its automation team had a wealth of experience in delivering successful projects. Working collaboratively with Blue Prism who donated additional digital workers as part of their COVID-19 response program, the Society designed, built and implemented an end-to-end, online mortgage deferral program in just six days. Members were able to apply for mortgage payment deferrals online and Blue Prism digital workers actioned the request without requiring members to contact the call center or walk into a branch. 

To date, the Blue Prism digital workforce has processed 28,405 mortgage deferrals. What’s more, during the peak of the crisis, the digital workers processed 1,250 work hours in a single day, a work rate that greatly alleviated pressure on the human workers.