Tech – it can be painless, relatively
Paul Hunt is a marketing consultant
This website is increasingly seeing more news about tech launches from lenders, but it’s often difficult to determine what this means to the end broker and the value to them when there’s so much happening.
However, it’s clear that tech will be an important way for lenders to differentiate their offering to brokers, but with lenders innovating and developing things largely on their own, the lack of uniformity can be a challenge and in the end may lengthen the advice process to customers, not reduce it at least initially, as much tech promises.
With so much change though, it is important that brokers are proactive in assessing the various options that lenders are providing (as well as the great new tech being supplied by fintech firms to help brokers), as not only can lenders use tech as a differentiator, but you can too vs your local competition.
BDMs are a vital resource and so challenge your BDMs to demonstrate and explain how their tech can help you. Also, many of the new fintech suppliers offer free trials, so sign up and see what value they provide, although I suggest you set yourself some goals i.e. you’ll use with every other customer etc., so that you are assessing fairly.
In my last blog, I raised the issue re phone vs email leads and in previous posts, I’ve talked about customer retention methods and how you improve your Google profile amongst other topics. It’s clear that I feel tech is essential to brokers, but you need to make the leap, even if it’s just a little hop initially into the future.