24 Skyline | Edition 7 | Winter 2024
Specific technology requirements
Once you’ ve clarified your goals, it’ s time to assess your technology needs. For example, if you’ re keen to capture a specialist market, a sourcing and criteria system might be ideal. Or, if you’ re aiming to improve client management and workflow, a CRM system could be what you need. It’ s also crucial to decide on your non-negotiables early on, helping you eliminate unsuitable options.
Choosing the right mortgage technology partner is essential for the success of an adviser’ s business.
The right partner can drive growth, enhance efficiency, and mitigate compliance risks.
Zahid Bilgrami
CEO Mortgage Brain
Technology is an increasingly important tool in helping advisers secure mortgage business; it can streamline operations, enhance client satisfaction, and boost revenues. Whether you’ re looking for a system to assist with sourcing or a full suite of tools, it’ s crucial to make an informed decision. Here are some key questions to ask before making your investment.
Understanding your business needs
Identify business requirements
Start by asking,‘ What are my business goals?’ Whether you’ re aiming to grow your client numbers, cut business costs, or target a specific market, understanding these objectives will guide your technology choices. The best technology partner will help enable your long-term strategy, not just meet immediate needs.
Assess current technology and future needs
Evaluate your current systems – are there inefficiencies or gaps? Think about scalability and flexibility too. Will your chosen technology partner provide solutions that evolve with your business and market conditions? If you’ re happy with your existing tech but you’ d like to try something new, is there scope to test new tech? Your chosen platform should adapt as your business grows and meets future challenges.
Evaluating a tech partner’ s expertise
Proven track record
A tech partner’ s reputation is key. Look for a proven track record in the mortgage industry. Research their history and request testimonials from similar businesses. Their ability to consistently deliver high-quality, reliable solutions is a good indicator of future performance.
Financial stability
Assess the financial health of any potential tech partner. A company at risk of insolvency could leave you stranded. Make sure they have a solid balance sheet and financial stability to support a long-term relationship.