Mortgagestream launches ‘unique’ factfind service

Ramesh Sharma

February 4, 2006

The PenStream service allows MortgageStream users to meet with their clients either in the office or at a client’s home armed with a special pen and take their details on a unique MortgageStream paper factfind. The pen remembers every letter written on the factfind and then streams the data back to MortgageStream via a server.

This is achieved either by docking the pen in a holder back in the office or by sending via Bluetooth to a mobile phone and from the mobile onward via a server to MortgageStream. This second method means an adviser working away from the office can complete multiple factfinds and send data to the office where admin staff can begin processing the mortgage before the adviser returns.

Paul Holden, sales director at MortgageStream, said: “The aim of the process is to save the adviser valuable time and aid brokers out in the field who still like to use paper-based applications.”

The PenStream functionality is based on Anoto technology provided by Destiny Wireless plc. The pen costs £120 with a charge of £9.99 per month.

Ian Howell, IFA at Capital Tower, said: “It sounds like quite an expensive outlay originally but it would help save time and money, instead of having to copy everything. It would improve accuracy and help reduce mistakes so I’m sure it would be beneficial.”

Mike Fry, director at Halton Insurance Service Ltd, said:

“Sounds very James Bond. Everyone is trying to get ahead and these often launch in a blaze of glory but don’t always work.”

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