Technology has radically transformed the mortgage broking business. Our customers are the propellent behind this transformation, they are driving a tech-led world with expectations of faster response times, easily digestible information, mobile first and personalised communications.
There is now an increasing demand for brokers to spend more personalised time with each of their customers, thus these new expectations have become the epicentre of our business operations. We think how can we use tech to win brokers back time so they can spend it with their customers
This can be extremely time-consuming and as brokers, we need to be able to work faster and interact with clients with ease. A tech-savvy consumer demands a tech-savvy broker.
It’s time to step away from paper and segregated tech that is eating into your work day and losing you money. Here are my five time saving tech solutions from Loan Market that will power your business and help you work faster.
1. Streamline your business operations
Running a business can be complex and managing your back-office can be a major time-crunch, especially if admin is not your forte. A sophisticated CRM system to manage your business operations is not only a need, it’s a must.
Loan Market’s MyCRM was built for our busy brokers and provides sophisticated dashboards of their pipeline, so they can track and manage all of their current opportunities and at which stage in the loan process that they are in. Brokers are able to securely manage all of their customers’ information with our customer data management features, plus inbuilt task management so they can stay on top of things and
MyCRM is fused with additional cutting edge tech solutions including loan and property tools and on-demand lead gen programs. If you would like to have a demo of MyCRM, feel free to get in touch via email and let’s set up a time.
MyCRM is our custom made CRM system which was built by brokers for brokers. From the start we consulted with our brokers on features and functions they needed to be able to work faster and save time.
I was so proud to accept the award for Australian Broking Award for Technology Platform of the Year. It was a true testament to the hard work that everyone put in to deliver a top of the line product for our brokers and their customers.
2. Eliminate the timesuck of gathering client info
Gathering information from clients can be one of the most painful parts of business. One of the biggest problems is the time wasted following up and sorting through emails, which burns your client facing time and burns profit.
Hearing what our tech-savvy consumers want, we designed an innovative mobile first tool, the Online Fact Find, to streamline gathering client data, empowering the customer to co-create and collaborate with you, saving you the time!
It’s interactive and intuitive, and the design is sophisticated, if I do say so myself. Check it out here
One of our top brokers, Sam Arthurs – recent two times Australian Broking Awards Customer Service Individual winner (so he knows a little something about what the customer wants) – has incorporated completing the Online Fact Find as part of his everyday business operations to save time on his, and allows him to spend more time with his clients discussing strategy and
His customers now have an opportunity to be apart of the entire loan application process, rather than looking from the outside trying to understand how getting a loan works.
“The Online Fact Find saves me time and money. It gives me the ability to process large volumes and work on multiple files at once. I go into each appointment with a clear idea of how invested each client is, their financial position, and what they want to do; this means I can spend time doing what they want me to do (finding the best possible option)” – Sam Arthurs
Loan Market brokers sent over 15,090 Online Fact Finds last year, with one broker sending 593. Think about the hours saved!
3. Automate the expense analysis process for an experience customers actually enjoy
Categorising expenses can be an absolute nightmare and can take forever and a day, especially when you are already lost for time.
Integrated with the Online Fact Find is Bank Connect Plus, a simple and secure automation process to collect bank statements, categorises expenses and create analysis reports. Once the report is generated, we show a benchmark against ABS data so your clients can see how their spending stacks up, and where they could possibly make improvements.
This automation eliminates the time crunch for you and prevents your customers painstakingly going through their expenses. Plus, it’s also fun watching a report automatically generate categorising your expenses, creating a seamless and enjoyable customer experience
“I love the automated expense reports that Bank Connect Plus generates. It makes expense analysis so much easier, saving about 20 mins per application. It saves my clients a lot of time too…anyone that uses it, loves it!”
Carol King, Queensland Loan Broker
4. Go digital with the Hello Pack and kick start application process
The hyperconnectivity of the tech-savvy consumer has propelled businesses into the digital world. There is an increasing demand from consumers to provide documentation and updates in real-time and going digital with your documentation is the solution. However, you must stay compliant.
As you know, getting a loan is a complex and multifaceted process and can be very overwhelming for customers. Loan Market’s Hello Pack is one of the first touchpoints for our brokers to connect with their customers and is an all-in-one introduction to the loan application process.
This digital solution, sent with a click of a button in MyCRM, is personalised and compliance lead with Loan Market’s credit guide attached. It positions our brokers front of mind, explains what’s next in the process, and includes the online fact find, bank connect plus to kickstart the application process. The Hello Pack saves our brokers time, allowing them to operate at their best, safe in the knowledge that this tech solution is keeping their business compliant.
5. Get onboard with email marketing automation (it will save you hours)
Over 70% of marketers says that the biggest benefit of marketing automation is saving time. So, join the club! Our Integrated with MyCRM is two of our marketing automation tools,Stay in Touch and Nurture.
We’ve learnt from our brokers, that you can’t forget your existing customers. They are the cornerstone of your business, and keeping in touch generates new revenue opportunities. Stay In Touch is an automated, client communications program within MyCRM that keeps our broker’s and their customers connected and informed about important stages in the settlement and post-settlement journey.
The Nurture communications program allows our brokers to stay top of mind with their prospects and consistently communicate relevant information to them until they are ready to take action. Once an automatic email is sent to a customer the broker receives an email alert so they are empowered with client information.
These tools are powerful and really easy to use, enabling our brokers to manage all of their marketing activities with minimum fuss. You can grow your business AND save time, who would’ve thought!
If you are interested in any of the awesome tech I’ve listed throughout this article, feel free to drop me an email at firstname.lastname@example.org and I’ll get in touch.
PUBLISHED September 27th, 2019 IN Stories and insights
Jason FurnellChief Customer Experience Officer Loan Market Group
Jason has over 20-years of experience in the implementation of business strategy through sophisticated technology design. Leading a lean-agile design process he rapidly drives technology solutions that provide rich and useful customer experiences. Jason prides himself on delivering application designs that effortlessly shoulder the weight of functional complexity in simple and engaging ways.