Custom Equity Group has launched a new cloud-based commissions and portfolio management platform to help boost broker business efficiencies.
The aggregation group has launched its new Assist Commissions platform that automatically notifies brokers of upcoming loan expiry, loan threshold paydown or potential default scenario.
It is hoped that the platform will boost efficiencies in broker businesses by reducing the need for brokers to modify lender spreadsheets or manually search through emails or folders for information.
It also enables brokers to search, find, list and download lender income, loan balances, book value, and so far includes 57 lender commission file processes.
Custom Equity Group CEO David Haythorn said that the platform was a product of learnings from The Adviser US Study Tour last year, which demonstrated how fintechs were evolving broker businesses.
“It was extraordinary to see how important the technology has become within the US mortgage broking scene and how managing existing loan and client portfolios has become second nature,” Mr Haythorn said.
“Brokers are signalling they need new kinds of services that are on demand. They want ultimate control over their businesses and they get that control within the group, and Assist Commissions is the first reinvention of the way brokers protect their client portfolios.”
Mr Haythorn added that there are future plans for Custom Equity Group to extend its on-demand services beyond the commission’s management.
“Custom is very much an innovative organisation that can think differently compared to businesses that might think more traditionally.
“We’ll certainly look to partner with organisations that can help accelerate change, and ultimately, it’s driven by our need and desire to deliver better customer propositions for our broker members.”
From today (10 October), The Adviser is hosting its Asia Study Tour in Hong Kong.
The Adviser Asia Study Tour spans two days (10 and 11 October) of interactive presentations and seminars revealing how the Asian mortgage market has developed AI strategies to support traditional broking models using robo advice to enhance the client experience.
Once again, the event aims to give forward-thinking brokers and players in the mortgage market critical insights into how their international peers dominate their respective marketplaces.
Annie Kane is the editor of The Adviser and Mortgage Business.
As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts.
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