Two years ago, as a mortgage broker frustrated with the current Crop of CRM and mortgage management systems, I partnered with colleagues and IT professionals already working with the latest advances in Artificial Intelligence(AI) to create a new platform to help mortgage brokers run their businesses more efficiently. It had to be capable of delivering everything that a mortgage specialist needs to thrive in today’s market where customer focus communication fast compliant delivery of lending solutions and a robust approach to GDPR and client file security are no longer a luxury. We started from a position that a new age platform should incorporate. A complete login system-must be Simple, Secure and comprehensive so that clients, advisers, administrators and business owners can easily login via the usual email/password from their website or web based landing page or via a mobile phone using a onetime password (OTP). Factfind-a simple to use attractive interface which can be completed by brokers or their clients. Document submission -Enabling clients to upload required documents via mobile app or client portal securely. Case tracking- Giving all parties access at any time with all case progress taking place in real time. Reporting system-the ability to interrogate the database is essential for adviser firms to analyse business performance. Easily producible reports showing the progress of each adviser, the quality of cases sent through by introducers and business snapshot reports should be available at any time. Compliance-an inbuilt compliance function is an essential tool to assist le running of every mortgage business. The ability to file check and provide complete audit of activity when needed should be a basic feature of every system. Our platform, Mortgage Magic usees block chain methodology. For a compliance is stored once an event or action is reported it produces a record that cannot be altered or undone. GDPR- If a client demands under SAR that his files and information full compliance audit trail of the events is still available. As this is kept via block chain methodology, even if the main server is destroyed, business disaster recovery and therefore vital data is ensured. The Mortgage Magic platform utilises private block chain which can ensure business disaster recovery. CRM INTEGRATION In my opinion, there are numerous other technological aspects which advisers should be able to integrate into their CRM and mortgage platform including electronic ID verification and video conferencing. along with mortgage sourcing and protection plugins. Electronic ID verification Clients can use their app to take a picture of heir ID and then a selfe. The system will check the selfe with the picture in the ID and produce an authenticity report The ID is also checked against all known databases to ensure authenticity. Secure Video Conferencing: Mortgage adviser can initiate secured video calls with the client via their app. In this way an adviser can be in London and deal with a client sitting in Glasgow in real time. The video file then forms part of the case management system. With a platform like Mortgage Magic, advisers have everything they require to operate a 21st century mortgage advice service. There is no longer a need to have separate components such as sourcing systems or ID verification. which have to be accessed outside the MM platform. Existing platforms, largely due to the restrictions caused by older technology, demand that users have to work in ways that are not particularly intuitive However the UX or user experience should always be based around what advisers actually want to experience when they move from enquiry to DIP. application and completion. In essence, it must be easy to use. Yet, due to the limitations above many of the alternatives available today are not easy, requiring considerable time for training -some as much as a week for each user. In other words you do it my way or not at all. The reason that tack still works is because no one. until now. has actual challenged the assumption that the current offerings in the market are actually the best examples of what genuine cutting edge technology can. As a mortgage broker, I have tested most of the platforms out there and in common with many of my peers, have not found anything that does what want it to do in the way that I want to Our platform has been designed from the ground up by mortgage brokers working with IT specialists who also work at the forefront of the practical application of Al. Based on intuitive machine learning methodology, the platform and the engine that drives it is trained to make automated decisions based on the data fed into it. In laymans terms mortgage brokers have specified what is required for a mortgage based CRM and administration system and the cream of Silicon Valley, using their experience of AI and machine learning, have produced a system hit for today s mortgage sector without the compromises that underpin those platforms still using yesterday’s technology.
News Source Link:
https://issuu.com/mortgageintroducer/docs/binder1_c543dfa398b813/43