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p>I recently wondered what it would be like to do my job without the benefit of my iPhone, iPad and Sat Nav. Life would certainly be quieter but I wouldn’t get anywhere and certainly wouldn’t know what all my old school friends were up to in their lives!
In this day and age I think that it is fair to say that we all benefit from the wonders of modern technology from devices that tell us which way to drive to those that keep us connected to clients. There are also those that allow us to provide prompt feedback and maintain high levels of service as well as ‘crushing the odd candy’ and upsetting the ‘odd angry bird’. Unfortunately this is not the case though with the latest upgrade offering from our friends at Apple the IOS 7!
From personal experience Apple have very much lead the way in terms of products they have introduced to the market and have also provided some very clever software upgrades along the way… then along comes the IOS 7 which has ruined my phone, turning me into a “grumbling old man who swears a lot”.
I am lead to believe that if you benefit from owning an iPhone then you should have no problems with the latest upgrade but unfortunately for me this is not the case. A cynical colleague of mine Mr Satchels’ own words to me were “You know it’s a big con Nick, it’s that Steve Jobs fellow. It’s Apple’s way of getting you to buy their latest phones.”
Most of us certainly rely on technology in everyday life and never more than in the lending industry as a whole where sourcing systems are developed to deal with the ever changing lending landscape and specific client requirements. As we move closer to the single bodied regulator the demand for better technology is becoming more apparent.
With Customer Relationship Management (CRM) systems and the development requirement under regulation where TCF and the customer’s journey is of paramount importance, are we ensuring the client’s requirements are being met? It is difficult to show the regulator you have satisfied what they are looking for unless you have selections, decision and communication documented in one central place. Remember if it’s not documented, it never happened!
Sourcing systems is certainly an area which has always been a part of the industry. The lending market has always used a system which can quickly identify the client’s needs and match this to a suitable product range. Personally, I am a big fan of technology moving into the bridging and commercial market. Anything which can allow its experienced or inexperienced user to compare and review different options available for the client, and provide these opportunities quickly, can only be a good thing. I do understand that within the short term and commercial market, applications require a more bespoke manual review from an underwriting perspective. This may be something systems will struggle with as they only work in straight lines by applying logic. However, from a cost to the client and an indicative “is this realistically something that can be done?” perspective, a system can be perfect. Clients and intermediaries alike require a quick “yes” or “no” and the “anything” which can achieve this is always welcomed.
I work as part of a team at Blemain Group that reviews new products and processes which aim to improve the customer journey. At the Group we have www.brokervenue.co.uk where an intermediary can access the companies’ product criteria, quickly identify a Blemain Group product and provide indicative quotes for the client. Lancashire Mortgage Corporation have adopted a more simple approach to the products we offer to our introducers, the latest product launch being testament to this and the introduction of OMV lending on Residential Investment properties from which we are already experiencing an increase in business.
To surmise and in light of one’s initial rant, I think we all agree that the most important aspect of what we all do is matching products with people, software with devices and only on the odd occasion, phones into walls!
I recently wondered what it would be like to do my job without the benefit of my iPhone, iPad and Sat Nav. Life would certainly be quieter but I wouldn't get anywhere and certainly wouldn't know....
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