Automation will deliver better client outcomes, says Mortgage Choice CEO

Broker group launches a new system to simplify compliance

Automation will deliver better client outcomes, says Mortgage Choice CEO

As the industry pushes forward in a process of digitisation, Mortgage Choice has taken an important next step by launching a workforce automation system that will simplify compliance and increase broker efficiency.

MPA spoke with CEO Susan Mitchell about the ways the $2M investment will streamline the loan writing process while keeping the customer better informed.

Simplifying compliance ahead of BID

According to Mitchell, installing an automation system was a natural next step for the business.

As the latest development in its $8M digital transformation journey, she says the technology will help to differentiate Mortgage Choice from other brokers and aggregators in the market in more way than one.

“It’s such a sophisticated tool that it makes it very simple for broker businesses to hire on staff – and they are able to easily learn how to use the tool,” Mitchell says.

This makes it easy to hand off files between different staff members within a larger business, while simplifying compliance ahead of best interests duty.

“All of the documents are automatically stored against the application. It is also simple to add notes into the system,” she adds, explaining that the tech has a voice to text feature.

“The best part of all is that it’s fully integrated.

“A broker feels like they’re signing on to one platform but it also includes the customer portal My Hub, it has the loan origination platform that’s linked to our policy engine called Broker Platform and it just makes it simpler for all the data to flow between the different systems through the file manager tool.”

Delivering a better customer experience

Aside from these features, the software includes an interactive dashboard and a visually appealing interface that enables clients to get involved.

“It looks quite good up on the screen when the customer comes into the office to look at it,” Mitchell says.

“The customer just gets a better experience and understands where they are and what’s going on.”

According to Mitchell, the system also has the potential to save a broker time – a sought after commodity in a world of changing policy and regulation.

“There’s 26 different touch points with the customer that are automated so the broker is spending less time on each file.”

“And as a manager of a larger business, it’s easy to track how the files are moving through the business as well as for the staff itself.”

The next step in the brand’s digital transformation will involve adding in more third-party plugins for even greater efficiency.