A mortgage broker has claimed that ‘robo advice’ and new technology provide brokers with more ways to serve customers.
Clayton Shipton, managing director of CLS Money, says that the launch of businesses like mortgage monitor, Dashly, and hybrid mortgage broker, Ladder, are a positive development for the broker sector of the mortgage market.
Speaking after launching CLS Money’s new service, Talk Mortgages, which enables customers to arrange a video call and speak to a qualified mortgage expert within minutes, Shipton (pictured), said: “This is a fantastic time to be a mortgage broker. Today’s technology advances help us all to offer a better service. There is too much doom and gloom about robo advice sounding the end of mortgage broking.
“I welcome where technology can take us as an industry and the applications for which it is being employed, because it shows us how we can create new ways to engage our customers, both prospective and existing.
“It is good to see some of the initiatives coming to market from firms like Dashly and Ladder. They are bringing something new to the market, based on taking a long hard look at the sector and working out what they believe will give customers a more complete level of service. This does not undermine the mortgage broker who is prepared to adapt, but actually points the way towards thinking outside the box and re-examining the way customers want to see a modern mortgage service delivered.
“It is easy to forget that while we might believe that the way we have always done business is the best that can be offered, the truth is that we need to be mindful of the kind of service customers expect today and not just what we are prepared to offer.
“My advice to brokers is to see new technology as a helpmate rather than a threat and bring it into your business. We can all benefit.”