As AI and automation rapidly transform mortgage advice, advisers say cybersecurity, client trust, and data protection are becoming just as critical as speed and efficiency
While lenders and advisers continue to invest heavily in automation, AI tools, and streamlined client onboarding, the question remains – is digital-first lending genuinely improving outcomes for advisers and clients, or simply shifting administration into different systems?
According to Geoff Christopher (pictured, right), financial adviser at Float Mortgages and co-founder of Afterburner, digital-first lending is not simply about adopting new software, it’s about fundamentally redesigning how advice businesses operate.
“Technology needs to handle the heavy lifting – the repetitive, administrative, time-consuming tasks that have historically consumed an adviser’s day – so that advisers can focus entirely on what they do best, building relationships and delivering advice,” he says.
And so when it came to approaching digital transformation in the business, the team at Float questioned every friction point in the traditional mortgage process and asked whether it could be automated, simplified, or removed entirely.
The result is a system where much of the administration advisers once handled manually is now completed through AI-driven workflows.
“Conversations with clients are recorded and analysed, application notes are generated automatically, supporting documents are cross-checked in real time, and missing information is identified before an application reaches a lender.
“If an adviser’s voice can do the work, a keyboard shouldn’t need to,” says Christopher.
Digital-first is no longer about efficiency alone
However, perhaps most importantly, the goal was never to replace advisers at Float, but to allow them to spend more time operating at the top of their licence.
It’s a philosophy shared by Nathan Miglani (pictured, left), Managing Adviser at Squirrel Mortgages Christchurch, who says digital-first lending should enhance the client experience rather than remove the human side of advice.
“For us, digital-first is not about removing the adviser themselves, it’s about making it easier for clients to engage with us.
“Clients can complete their application, review disclosures, and understand what is required from them in a clear and simple way, all online.”
And while speed is often the headline benefit attached to digital lending, Miglani says reducing stress for clients is equally valid.
“Providing information and completing forms can still feel overwhelming for clients. So our focus has been on minimising any anxiety about the process by making it clearer and easier to follow.”
Has security and trust become the new competitive edge?
Both advisers agree that document collection and analysis have seen some of the biggest gains from technology adoption. In particular, Miglani says secure client portals and automated bank statement analysis tools have significantly improved efficiency within Squirrel.
However, cybersecurity and privacy remain a major consideration when it comes to adopting digital platforms, particularly given the sensitive nature of financial information.
“We are careful. Security is really important and we are cautious about connecting too many systems because client data protection has to remain a priority," says Miglani
And security was the foundation of development when Float built its proprietary advice platform, Afterburner, which now services approximately 400 advisers across New Zealand.
“Going digital has made Float more secure, not less, and Afterburner holds full ISO 27001 certification, which is the internationally recognised gold standard for information security management,” says Christopher.
“Advisers are becoming increasingly aware that adopting technology also requires strong internal systems around privacy, data handling, and compliance. So there still needs to be good governance and clear processes around how client information is managed.”
When automation meets advice – redefining the adviser workflow
With the rise of AI, the day-to-day workflow for advisers has changed, with Miglani saying processes that once took advisers 30 to 40 minutes can now often be completed in less than half the time – from writing diary notes to summarising recommendations and cross-checking information before applications are submitted. Which is why Christopher says one of the more interesting challenges of digitisation has actually been helping advisers rethink how they use the time technology gives back to them.
“The instinct is often to simply do more of the same, but the real opportunity is shifting toward more holistic advice.
“At Float, that means integrating lending conversations with KiwiSaver, insurance, wealth, and commercial advice, with all specialists working from the same centralised intelligence system.
“It creates genuinely joined-up financial advice rather than separate siloed conversations.”
Client adoption of digital processes has also accelerated rapidly in recent years, particularly since the pandemic normalised remote interactions and digital onboarding. Miglani estimates more than 70% of clients are now comfortable providing information digitally, although he says flexibility remains important.
“There will always be clients who prefer more support, especially older clients who may feel nervous about scams or sharing information online,” he says.
“For those clients, we simply adjust our approach. We spend more time on the phone, guide them through the process, or meet in person if needed.”
For Christopher, it seems many clients barely notice the technology itself. Instead, they notice the difference in the experience.
“What clients now have is an adviser who seems to know them extraordinarily well, follows up clearly, and doesn’t ask them to repeat their story multiple times.”
As a result, this is also influencing lender relationships, where cleaner, more complete submissions are leading to better turnaround times and less rework.
“Banks know that our applications arrive complete, verified, and with policy exceptions already identified upfront,” says Christopher.
“That changes the dynamic significantly.”
The next shift: open banking and real-time verification
Looking ahead, there’s no doubt open banking and AI will continue reshaping the advice industry over the next 12 to 24 months with Christopher saying open banking could eventually allow near-instant financial verification and fact-finding once clients can securely authorise access to their banking data.
“No chasing documents, no manual reconciliation and no data entry errors.”
And Miglani sees AI having the biggest impact in the early stages of the process, particularly around verification and assessment. But despite the rapid pace of change, it seems technology will never be able to replace the ‘human-aspect’ of advisers.
“Clients still want reassurance, clarity, and someone they trust to guide them through important financial decisions,” Miglani says.
And Christopher agrees.
“The adviser of the future is not someone who fills in forms or spends evenings writing application notes,” he says.
“They are experts who understand their clients deeply and have the tools to act on that knowledge quickly and accurately.”
