Mortgage broker CLS Money has partnered with fintech specialist Nivo to provide customers with a fully branded ‘white labelled’ app for progressing mortgage applications, and to digitise its end-to-end sales process.
CLS Money is the first broker operating in the first charge space to adopt the white label service.
The company has gone one step further by integrating Nivo with Salesforce to create a completely automated cloud-based solution.
CLS Money implemented the new system to speed up mortgage applications with quicker customer communications, make the journey simpler and create an integrated, intuitive and paperless internal process.
Using the app, which is free to download from app stores, customers can communicate with CLS Money, share documents such as bank statements and payslips, and e-sign documents.
Information can be securely shared by lenders, brokers, lawyers and other professionals signed up to the Nivo network.
CLS Money is driving to remove email from its processes to improve speed of applications and processing, increase adviser efficiency and deliver high levels of security for customer data.
Nivo created the integrated solution within three weeks of first contact with CLS Money.
The service also includes secure transfer of selected customer data between CLS Money and lenders, with instant messaging to progress deals faster.
All information associated with a loan case is brought into one thread, organised, made easy to reference, and available to all agents in a single channel
Clayton Shipton, founder and managing director of CLS Money, said: “Companies like Amazon and Uber have changed everything, and customers now expect transactions in other areas of the lives to be just as quick and painless as ordering something on their phone in a few taps and receiving it the next day.
“Being able to remove posted documents from the equation was an absolute no-brainer.
“With this new app we’ve reduced the time it takes for a customer to send us essential documents to just a few minutes and made communications feel instant.
“The process is so much quicker, and the customer can see things moving along with real urgency.
“They stay engaged with the process to a much greater degree and I’m sure it’s going to make a significant difference to conversion.
“Mobile solutions and secure ‘chat’ style applications are the future.
“Customers don’t feel they’re being bombarded with ‘spam’ during the application and although we’re not quite ready to call the death of email, it is already looking as antiquated as snail-mail.”
Zach Thomas, business development at Nivo, said: “I’m delighted that Nivo has been able to help CLS Money deliver an ‘industry first’ in the first charge mortgage sector.
“Clayton and his team understand the value of digitising processes which make things easier for customers and advisers and this new branded App provides the perfect way for users to access our network of FinTech features and enable a quick and efficient loan application experience.”