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Brokerage to focus on mortgage process automation

mortgage choice

mortgage choice
Reporter 2 minute read

Mortgage Choice has welcomed the roll-out of its new cloud-based broker platform, adding that it will focus next on process automation.

The broking group revealed that it has rolled out its new $3.4 million cloud-based broker platform, which aims to help brokers write loans more quickly by reducing data entry repetition and improving the overall customer experience. 

The platform includes dashboards to understand sales performance and sales pipeline, transaction modeling to accurately understand customers borrowing capacity, a product catalogue for all lender products on the Mortgage Choice panel, and pipeline displays to quickly see the status of inflight loans. 

Prior to launch, Mortgage Choice ran a pilot program for the new broker platform with a group of 85 franchises across the country and found that the platform reduced the time it took to write and submit a home loan by 30 per cent. 

Mortgage Choice CEO Susan Mitchell welcomed the roll-out of the Broker Platform, which she said “has been built to meet the specific requirements of brokers and improve productivity so they can continue to grow their businesses.

“Designed and built in-house by a talented team of technology professionals, the new Broker Platform easily integrates with multiple systems to reduce data entry, to deliver good business outcomes for our brokers and improve the customer experience,” she said. 

Looking forward, Ms Mitchell revealed that the brokerage is now looking to further invest in technology to enhance the platform, with process automation the next focal point. 

According to the brokerage, process automation will further increase broker efficiency and continue to improve the customer experience. 

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Ms Mitchell said: “After a year of review and change necessary to recalibrate the business for a long-term sustainable future, things have changed for the better at Mortgage Choice and there are exciting times ahead. 

“As part of our company-wide change program, the introduction of our new broker remuneration model and new broker platform underline our vision and capability as a franchise group to deliver to the needs of our growing franchise network.” 

The Mortgage Choice CEO added that the company is also focused on growing the Mortgage Choice Financial Planning business, “which not only enables our brokers to diversify their revenue, but will also enable us to achieve our vision to be Australia’s leading provider of financial choice and advice,” she said. 

Find out more about the changes Mortgage Choice has been making and how brokers can prepare their businesses for 2019 by tuning in to The Adviser’s Leadership Series webcast, The Year Ahead, sponsored by La Trobe Financial and Mortgage Choice.

[Related: Brokerage CEO reveals ‘the most important thing a broker does’]

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