Its clients can now easily compare later life lending products
Technology provider finova has announced the integration of its Broker CRM with Air Sourcing, allowing its clients to compare later life lending products on the market within one single system.
finova’s Broker CRM has become the first in the market to integrate with Air Sourcing – a move that comes at a crucial time as the later life lending market has recently grown to nearly £154 billion.
“The later life lending market is continuing to grow at a rapid pace with many now using it to access wealth built up in their properties in order to support retirement, settle previous interest-only loans, or help their family get on to the property ladder,” Matthew Harrison, sales director at finova said. “It is vital that a modern CRM reflects this demand and provides the tools for brokers to facilitate this.”
The tech provider added that the integration will enable intermediaries to consider the diverse range of products that they can offer their clients. In addition, the configurable CRM system allows advisers to process more applications with built-in automation and defined customer journeys.
“We are seeing more and more firms branch into this market, but they are doing so using separate systems meaning reduced efficiencies and fragmented or duplicated databases, Harrison said. “We are delighted to improve on the current flexibility within our broker platform to support users to diversify their product offerings and to enrich the service they offer.”
Read more: How big is the UK’s later life lending market today?
Kevin Gaut, chief technology officer at finova, remarked that record levels of demand paired with limited supply is making it increasingly hard for brokers to generate new business or complete on standard purchases.
“In this market, brokers need to be able to diversify the products they offer without impacting their capacity or reducing efficiency,” Gaut pointed out. “We are proud to offer this first-of-its-kind technology which supports brokers to do just that, available for all users whether they are currently writing later life lending business or looking to move into the space.
“And as the trusted technology partner to over 70% of equity release lenders in the market, we are in a great position to help transform the sector for both brokers and lenders.”
Stuart Wilson, CEO at Air, said they are committed to supporting brokers as they help their customers find the right option for their individual circumstances.
“By partnering with finova, we can extend this support to the brokers who use their CRM service and help to streamline the process so that they can spend more time focusing on customers rather than repetitive admin,” Wilson stated. “Air has always been at the forefront of innovation, and it is something we are committed to in this ever-evolving market.
