Brightstar to launch specialist sourcing system

Brightstar Financial will unveil a specialist sourcing and CRM system in September described as “unique” by its chief executive Rob Jupp.

The specialist distributor launched a twitter page today under the name @EasySourceUK and already has over 100 followers.

Its first post read: “Follow us today and be the first to find out about the biggest leap forward in technology for specialist lending.”

Jupp revealed on twitter that the Mortgage Advice Bureau, Paradigm Mortgages and Intrinsic Financial Services will be the first clients to adopt the system on 15 September.

Twenty7Tec, which already works with HomeLoan Partnership and Complete FS, is likely to be the provider. Twenty7Tec Group tweeted: “@EasySourceUK a pleasure to be a part of this solution! #madeeasy.”

Brightstar currently deals with specialist finance in four categories: specialist mortgages and buy-to-let, second charge loans, bridging loans and commercial finance – and it seems likely that the new system will be able to source all of those areas of finance.

Indeed, speaking prior to the launch of the twitter page, Jupp said: “What the market doesn’t have is a system that refers to all of specialist lending.

“There are only systems that look at one specific area, like Trigold which looks at prime mortgage information.”

Jupp has a vision of technology aiding the consumer. He added: “Even compliant individuals occasionally make wrong decisions and in bridging that could cost the consumer thousands of pounds.

“You need to know the better deals at face value.

“I’ll lead this cause because it will form the basis of our medium term strategy as a business. Frankly if some of my peer group think I’m too new age that’s up to them.

“I’m not trying to make lenders go bust because their business models don’t work anymore; all I’m trying to make sure is that the consumer gets the right product whether it’s regulated or unregulated. I think the best way of doing that is with technology.”

Jupp has long been a vocal supporter of the specialist sector adopting sourcing systems.

Back in the March edition of Bridging Introducer he said: “This time next year a distributor that doesn’t have a sourcing system will be a dinosaur. This time next year the sector will look very different. Friendships and marketing relationships are going to be less important.

“We are talking about something really sexy which will take into account lenders’ service standards.

“We’ve got to open our minds. If you look at what’s around at the moment, technology that’s coming to the market is way ahead of what’s around at the moment.”

Brightstar is currently beta testing the new sourcing system.

Jupp added: “Technology in the UK has not moved since about 2003 in the specialist market.

“It’s purely market dynamics. When a sector has an Armageddon style experience you’ve got to create a new one that’s fit for purpose and it takes a while to get the infrastructure and people back into place.

“You are right at the start of a renaissance in the specialist UK sector.”