Following research indicating that 77% of mortgage intermediaries feel the use of technology will increase as the CP 121 proposals go ahead, The Exchange has announced it will facilitate two-way electronic communication and data transfer with all types of adviser for both sales and servicing.
Sue Summers, general manager at The Exchange, said: ‘For IFAs, the decision by the FSA to scrap its defined payment option is a huge boost. However, if the final rules mean IFAs have to offer a fee-based charging option it will require the introduction of time recording and billing mechanisms into many IFAs’ business process. Our aim is to support IFAs by working with the industry to ensure our systems can facilitate the proposed ‘menu’ option and we will be liaising closely with AIFA, IFAP and the FSA.’
