Online services are failing to facilitate greater volumes of business for intermediaries, according to sub-prime specialist, mortgage & loans etc.
After questioning 350 intermediaries in October, Ranjit Narwel, broker relationship manager for mortgages & loans, said: ‘The results show few lenders and packagers have thought about the technological needs of the end user ‘ the broker and IFA. These results will come as a shock because it would appear many companies have been investing heavily in technology without thinking precisely what it is they want to achieve.’
For intermediaries, the real problems came in the delivery of the technology. Most seemed happy with what it aimed to do, but all too rarely it did not happen effectively. Over half questioned said features such as case tracking, were prone to malfunctioning while poor technical support meant maintaining operational levels was difficult.