Brightstar has officially launched its new sourcing system, EasySource, today.
The system, which took two years to develop, is sponsored by Shawbrook Bank, which played an active part in its development.
It allows users to search across different product types, and also includes a case management and tracking system, which provides real time case tracking, tracking alerts as well as case milestones. It will record all keystrokes, providing a full audit trail – even telephone calls will be attached to the client file.
EasySource also includes a messaging facility so the intermediary can get in touch with the Brightstar helpdesk.
Brightstar argues its system will make it easy for intermediaries to identify the most appropriate solution for their clients across a range of product categories and specialist lenders. The product types will include specialist mortgages, complex buy-to-let, bridging loans, second charge loans and commercial finance.
The initial questions asked of the broker will include details of the existing mortgage rate, monthly payments and the remaining term plus any early repayment charges and fees. EasySource takes this information to show the overall cost for comparison for both remortgage and second charge options.
The distributor claims its system will make it easy for intermediaries to offer more specialist forms of finance to their clients and compare costs between the different product types; for example EasySource will offer a cost comparison between a capital raising remortgage or a second charge loan or between a bridging or commercial loan if appropriate.
Intermediaries can carry out multiple searches having entered the client’s information once, with no re-keying necessary. This will provide an overview of alternative product categories whilst also providing evidence of research, which will be archived on the EasySource system.
Once a product has been selected, the broker will receive a tailored list of information required by the given lender, including the ability to upload and download documents into and from their own system. In addition, it will pre-populate an ESIS with any information submitted, enabling the intermediary to export the ESIS to their own client file along with the full case audit.
Rob Jupp (pictured), chief executive of Brightstar, said: “We have worked on this technology for over two years with the aim of transforming the way that brokers work. Brightstar’s revolutionary new EasySource application is a multi-modular platform which looks at all available options for a client and provides intermediaries with better, more transparent outcomes every time. With this system I truly believe that we are leading the way and shaping the future of specialist finance.
“For the very first time intermediaries will be able to search across multiple product types and compare prices. They will have everything that the FCA needs to provide evidence of research, including near misses, but it will also be immensely practical providing real time updates and access to real human beings to talk things through with – both at Brightstar and at the lenders.”
