There’s too much doom and gloom about technology

Michael Lloyd

March 12, 2019

Robo advice and the launch of businesses like mortgage monitor Dashly and hybrid mortgage broker Ladder are positive developments for mortgage brokers, said CLS Money managing director Clayton Shipton.

Speaking after launching CLS Money’s new service, Talk Mortgages, which enables customers to arrange a video call and speak to a qualified mortgage expert within minutes, he said that technology should be welcomed and not feared.

He said: “This is a fantastic time to be a mortgage broker. Today’s technology advances help us all to offer a better service. There is too much doom and gloom about robo advice sounding the end of mortgage broking.

“I welcome where technology can take us as an industry and the applications for which it is being employed, because it shows how we can create new ways to engage our customers, both prospective and existing.

“It is good to see some of the initiatives coming from firms like Dashly and Ladder. They are bringing something new to the market, based on taking a long hard look at the sector and working out what they believe will give customers a more complete level of service.

“This does not undermine the mortgage broker who is prepared to adapt, but actually points the way towards thinking outside the box and re-examining how customers want to see a modern mortgage service delivered.

“It is easy to forget that, while we might believe the way we have always done business is the best way, the truth is that we need to be mindful of the kind of service customers expect today and not just what we are prepared to offer.

“My advice to brokers is to see new technology as a helpmate rather than a threat and bring it into your business. We can all benefit.”

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