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HSBC outlines broker technology upgrade and expands distribution to Personal Touch

  • 16/08/2017
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HSBC outlines broker technology upgrade and expands distribution to Personal Touch
HSBC is extending its mortgage offering to the Personal Touch network and has revealed plans to upgrade its broker software.

The bank was the sixth biggest UK mortgage lender in 2016, lending £15.7bn, according to Council for Mortgage Lenders (now UK Finance) data.

HSBC’s deal with Personal Touch continues its expansion into the broker market and hands it roughly 50% of adviser distribution after agreements with 20 networks, major brokerages and estate agents.


Immediate DIP

The new broker software, provided by Capita, will replace the current system and provide a single platform to make it easier for brokers to transact, upload documents, and track details of mortgage applications and decisions.

The new broker platform will include:

a single view of all pipeline cases: users can drill down into each individual case from the single screen;

specific role based user profiles allow support staff to access and progress individual cases;

ability for documentation, such as proof of identity and income, to be uploaded directly to the case;

a way for borrower’s eligibility to be qualified and an immediate decision in principle obtained without impacting consumer credit score.

It is expected to be operational later in the year.


Controlled rollout

HSBC head of UK mortgages Tracie Pearce (pictured) said the bank’s intermediary growth strategy remained bringing on board intermediary partners in a continuous, controlled manner to maintain service.

“Over half of the intermediary mortgage market now has access to our range of mortgage products, which now includes Personal Touch Financial Services,” she said.

Pearce noted that HSBC needed to “ensure that we’re supporting brokers with the right tools and information to make the process as smooth as possible for them and their customers”.

“We have developed this platform for brokers with Capita, and it will simplify the process of working with us so that the information brokers need can be accessed quickly and efficiently, including essential case tracking,” she added.

Capita Mortgage Software Solutions managing director Jon Peart said: “When developing the platform we listened to customer feedback enabling us to tailor the end-to-end solution to make it as easy to use and effective as possible.

“The programme is on target to deliver in record time for an implementation of this nature. We are confident this partnership with HSBC will help drive the anticipated growth of its broker distribution channel,” he added.

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