ldnfinance

The power of technology in service delivery



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There is no denying the impact that technology has had on bridging loan origination.

As specialist property finance advisers, expanding our capacity online opened up opportunities for improvement in standard industry processes. Completing everyday tasks became less time-consuming and altogether more efficient. By assessing various touchpoints in the broking lifecycle, we found an opportunity to improve the smooth-running of sourcing a bridging loan between us and our providers. The result? Improved professional practice and increased staff efficiency — from sourcing new products to signing legal documents and processing faster payments.

While technology is facilitating improved industry practices, let’s not forget its customer benefit. Transitioning to enhanced online processing saw clients benefit from reduced lead times and with greater connectivity, advisers were in a stable position to deliver faster, more accurate answers to clients in the first instance. However, the fundamental role of a bridging broker is still as crucial as ever. Valuers and solicitors are struggling to keep up with demand, but advisers with high communication skills, tenacity and commitment can help alleviate the pressure. By partnering with lenders, solving problems and finding snags in deals, service excellence is executed more effectively.

Many of these processes adopted throughout the pandemic have been maintained as part of the “new normal”. There is no doubt technology has positively improved an adviser’s purpose of coordinating and solving problems. By leveraging technology systems, advisers are armed with more effective tools than they can rely on to work with and for them.

I am sure that tech innovation will continue to impact service excellence in the specialist property finance industry. As processes continue to evolve, the adoption of technology into an adviser’s role should be welcomed — and who knows, we may even begin to enjoy Zoom again one day! 

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