New FinTech Mortgage Engine is being trialled by Natwest and Santander.
Mortgage Engine uses APIs to connect lenders and distributers.
It officially launched on Tuesday.
This is the first offering that allows decisions from multiple lenders simultaneously.
What does this mean?
The API infrastructure enables loan decisions to be made within 60 seconds. In the spirit of open banking, it also avoids repetition in re-entering customer data.