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The trick with technology is to take it slow – MCI Solutions

by: Phil Whitehouse, managing director, MCI Mortgage Club
  • 15/02/2017
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The trick with technology is to take it slow – MCI Solutions
Sometimes the world of technology can feel very much like the world of politics. We’re constantly being bombarded with promises and impressive claims of how we will benefit yet in many cases those benefits do not materialise.

Indeed, even with the technology that does come to fruition and may well deliver on its promises, it can be difficult to make sense of it all and know who to trust.

The trick is to take it slow. Think about it; when any technological advancement has come about in our society there is always a bedding in period. There was a time when only a small number of people had mobile phones. The process of records being replaced by CDs and CDs being replaced by iPods was a slow one. We didn’t suddenly hear about music downloads and decide to throw out our record collections.

Indeed, those of you who have been in the industry as long as myself will know what an adjustment sourcing systems were.

There is a lot of work going on at present among technology providers who are trying to devise systems that can make the mortgage sales process more efficient, while also recognising the increased regulatory requirements of those operating in the sector and tightened lending criteria. Many of these developments will no doubt be of use to brokers but my advice would be, give these systems a chance to settle down and have a track record before jumping in. Embracing change and innovation is an admirable quality but doing so too quickly can be a major distraction to your business.

Get the basics right, use a reputable sourcing system and a comprehensive CRM system (but choose one that has been around some time and stood the test of time).

As with anything new, tread carefully, particularly if you are directly authorised.

If you are an appointed representative, seek guidance from your network. Whatever you do, help is at hand and experts are out there to assist. Make use of them.

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