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Coventry Building Society Overhauls Web Channel. Launches New Online Mortgage Quotation System in Just Four Months

LONDON — 6th September, 2004 — Coventry Building Society has successfully overhauled its web channel using Microsoft .NET in a move designed to grow its core mortgage business and rapidly launch new products. In just four months Coventry has been able to introduce a new fast and reliable online offset mortgage quotation and sales system to replace the four unlinked quote systems previously used on the site and speed up the process for customers seeking accurate quotations for mortgage finance.

The new mortgage calculator is also improving the in-branch experience for both customers and advisers as accurate quotes for mortgages can be produced in a matter of seconds using the same application found on Coventry’s web site. In addition, the integration with back-end systems is enabling Coventry to scan images of customer signatures, which is vastly speeding up mortgage processing times.

The new development environment has been supplied by Microsoft partner, BJSS, and uses Web services and a combination of Microsoft technologies including the Microsoft .NET Framework, Microsoft ASP.NET and Microsoft SQL Server 2000 to integrate with Coventry’s legacy back-end applications. This means that Coventry is now able to create new products with a single front end and deliver them customers in record time.

Furthermore, Coventry’s 1,000,000 customers can access the same functionality via the revamped web site as through any other channel they use with the Society, on a 24/7 basis.

Giles Chipperfield, Chief Information Officer, Coventry Building Society, comments, “We are very proud of our independent Building Society status. Speed to market with new products is what keeps us ahead of the competition and at the forefront of our customers minds. Delivering the offset mortgage calculator to market in just four months was only possible using Microsoft .NET and is a great example of how effective this technology can be.”

Andrew Voysey, Director of Financial Services at Microsoft UK, comments, “Coventry Building Society’s implementation of .NET clearly demonstrates the value of Microsoft technology in enabling financial institutions to deliver new products to market quickly, easily and at a low cost and we are delighted that the Society is already reaping value from their investment..”