Loan Market answers brokers’ one-touch privacy push
Loan Market has now embedded the one-touch privacy solution within its popular Online Fact Find, removing the need for customers to print out and sign a PDF or open a third-party e-signature app.
It accompanies a new Dynamic Credit Guide displaying a broker’s lender splits within Loan Market’s revamped broker profile, the personalised Hello Book.
Since Loan Market established a feedback feature within MyCRM in 2018, no other broker-led suggestion has gathered more nominations, David McQueen, Chief Regulation & Compliance Officer said.
“We have the industry’s leading technology solution and it will continue to hold that position because we listen to our brokers. Loan Market encourages ideas from our network on what’s needed to help them work most safely and efficiently, on-the-ground,” said Mr McQueen.
“Customers are digitally savvy and they want to know how their data is handled, and by whom.
“By introducing a one-touch acceptance of our Privacy Statement within our Online Fact Find, there’s no longer a need for clients to e-sign a separate document or – worse – print anything out, sign it and send it back.
Customers must respond to the Privacy Statement before they’re allowed to build their profile in the Online Fact Find, contained within the broker’s personalised Hello Pack. The upfront requirement allows the broker to then safely commence credit checks.
The Online Fact Find requires two-step mobile verification, further protecting the integrity of the data capture.
“This feature gives the broker confidence that they can safely conduct credit checks which is critical to the Best Interests Duty (BID) as well as their own productivity,” said Mr McQueen.
The Dynamic Credit Guide’s inclusion within the Hello Pack consolidates the requirements of brokers under legislation with the opportunity to build their profile.
“Loan Market advocates a Compliance By Design approach to broking where our regulatory requirements are hand in glove with meaningful customer engagement,” said Mr McQueen.