New Loan Market tech strengthens brokers’ recommendations in BID
A new centralised data platform within Loan Market’s award-winning MyCRM is heightening the quality of recommendations brokers are delivering under Best Interests Duty (BID) compliance.
The Deal is the latest advanced feature of MyCRM and a key link in The Loan Market Way, the aggregator’s process for ensuring the customer experience is incorporated within all BID compliance obligations.
The Deal’s data platform analyses all broker notes and Online Fact Find information to run multiple calculations for the best suited product.
The recommendations – and the calculations that delivered them – are then uploaded to Loan Market’s Game Plan to the customer to review in a highly professional, easy-to-read and transparent client recommendation document.
Seventy brokers completed a three-month pilot of The Deal which Loan Market’s Chief Customer Experience Officer Jason Furnell said shaped greater customer-broker efficiencies for the wider network.
“The Deal is the new, central platform where brokers can store and retrieve everything about the client and the work that’s been done to meet their needs,” said Mr Furnell.
“It further boosts productivity, saving busy brokers time and giving them the confidence to actively take on work, knowing they’re working safely within BID requirements.”
Importantly, The Deal’s functionality streamlines repeat business for brokers.
“From the client’s very first home purchase to supporting their refinancing and investment portfolio goals, brokers now have all interactions in a single place,” said Mr Furnell.
“It’s a clear demonstration of all the work and value brokers have delivered their clients.
“When it comes to BID, being able to document you’ve acted in the client’s best interests is just as important as the activities themselves.”
PUBLISHED February 25th, 2021 IN Stories and insights
Angela Tracey
Angela is obsessed with marketing solutions that heighten brokers’ online visibility, build their profile in their local marketplace and ensure potential clients are knocking on their door (so to speak).
With over a decade of experience leading her own digital marketing agency, helping SMEs win local area market share through the strategic integration of online, social and database marketing, Angela has the know-how to support brokers with solutions that help them find and keep clients.
