An app developed by a mortgage broker with over 30 years’ experience is gaining significant traction in the industry, enabling brokers to “showcase their skills” while building and connecting with a financially literate community of customers.
Echofied (formerly Eccho Me), the brainchild of Intouch Finance executive director Paul Ryan, is a community platform that allows consumers to have their finance and credit-related questions answered by users of the service.
Speaking to The Adviser in January this year, Mr Ryan explained that the app allows consumers to “independently and conveniently ask any question, whether it’s about home loans, asset finance, commercial loans, personal loans, or credit cards”.
The platform, which is available on Google Play and the App Store, has since been renamed Echofied.
It has reportedly had more than 300 users provide almost 1,000 answers, with Mr Ryan saying that the platform is garnering positive feedback from mortgage brokers who say they are “actually learning from answers posted by other brokers”.
“The feedback from the consumers is that they like the fact that the platform is independent and all the information is transparent and accessible,” Mr Ryan added.
“There has been the odd occasion where an expert has corrected another expert answer so it becomes a very powerful tool for consumers in having access to accurate information to help them make more informed decisions,” he said.
Mr Ryan added that his vision for Echofied for the next 18 months is for it to become the "number one platform" and research tool for consumers.
He also explained that he hopes the platform will enable industry experts to “amplify their expertise and skills by providing helpful and transparent answers”.
“Mortgage brokers can use their individual Echofied profile to showcase their skills and share their profiles with potential new clients — it is a perfect tool to help win new business,” he said.
Mr Ryan pointed out that brokers have the option of inserting the Echofied icon into their email signature for clients to click on and see the broker's answers to questions.
A web-based version of Echofied has recently been released.