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Platform’s vision for the future

by: Neil Wyatt, intermediaries business manager, The Co-operative Bank
  • 23/07/2015
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Platform’s vision for the future
In early summer, we invited key individuals from our distribution partners to meet the executive team at The Co-operative Bank, along with those leading the bank’s strategy to make Platform the lender of choice for brokers.

More than 50 brokers and industry leaders attended the event and heard how the bank has stepped up support for intermediary mortgages over the last year, such as doubling the size of the intermediary account management team in Q1 2015.

Future growth of intermediary lending is a key part of the bank’s strategy and a transformation programme is now in place to ensure our mortgage business processes support these plans. We are determined to build on the continued growth we have seen over the past few years, which has exceeded our expectations.

There are several reasons for Platform’s success, in addition to strong pricing, which includes an attractive range of incentives, improvements to service and the investment we’ve made to increase the intermediary sales team.

Another major reason is the positive relationship colleagues have with intermediary corporate partners. A recent C-SAT survey of brokers revealed nine in ten were satisfied with the helpfulness and friendliness of Platform colleagues. In addition, Platform ranked highly for supporting brokers’ business, with almost seven in ten saying that we are good or excellent.

Furthermore, 91% of brokers said they were either satisfied or extremely satisfied that we understood their needs and the needs of their clients.

Platform will continue to develop its broker support, including the speed of processing applications, extending our mortgage range, and having more flexible criteria.

Our customer-led mortgage proposition will be underpinned by a new, flexible system designed to deliver a positive customer experience, as well as improved functionality and efficiencies. Plans for this are well underway and we have already started to make significant improvements in preparation to deliver this to brokers.

As the intermediaries business manager at Platform, I am excited about sharing and developing plans with our partners to deliver a market-leading customer and broker service, that we will be able to offer a quicker turnaround in application to offer timescales, continue to be competitive in the market and offer a simpler process for customers to remain with Platform.

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