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Countrywide launches digital broker Dynamo backed by Blenheim Chalcot

  • 03/04/2018
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The UK’s largest mortgage broker Countrywide and digital venture builder Blenheim Chalcot, have launched online mortgage adviser, Dynamo, initially a remortgage-only broker.



The mortgage adviser, which has been advertising in local London papers City A.M, the Evening Standard and the Metro is launching on a platform of ‘cutting edge technology’ and ‘free-to-consumer’ mortgage advice.

The broker plans to extend services to first-time buyers and home movers by year-end, and with six brokers at launch is currently recruiting for 10 more through a ‘pitch night’ offering advisers the chance to present their technology innovation idea and win £2,000.

The firm, based in the Blenheim Chalcot building at One Hammersmith in London, is offering customers a range of 15 lenders representing 85% of the market with moree on panel by the summer and some exclusive deals after customers complete a digital fact find.

Customers are also offered a regular check on the best deals available for them via Dynamo’s Rates Checker, a tool showing the rates available at any given time depending on basic personal details.


Innovative working practices


Seb McDermott, chief executive of Dynamo, said the new technology will transform the way its mortgage advisers work, saving them time and paperwork and allowing them to focus on delivering a great customer experience.

“We are building an industry-changing automated recommendation engine for our advisers which is simple and intuitive to use. In time, this will allow us to automate the recommendation fully over time, saving our advisers time and effort so they can concentrate on progressing our customers’ applications.”

Peter Curran, financial services managing director at Countrywide, added: “As the UK’s largest broker, we believe that more and more of our customers want choice in how they apply for their mortgage. Dynamo gives them the online solution.”

He continued that Countrywide’s mortgage industry knowledge, insight and relationships, together with Blenheim Chalcot’s record of building disruptive fintech drove the creation of Dynamo.

He added: “Dynamo provides the perfect complement to Countrywide’s existing channels and delivers an easy to use online option, for those customers who have become increasingly accustomed to managing their finances in this way.”

Dynamo COO Jenny Watts added: “Dynamo is rebuilding the mortgage process around the customer and we are using clever technology to help us. That isn’t about replacing humans with technology but instead it’s about using technology to offer our customers choice and to enable our advisers to work more efficiently. When the market is ready for a fully automated solution we will be there but we believe that time is not yet upon us.”

Dynamo is chaired by Dan Cobley, former head of Google in the UK and Ireland and brings together a team of designers, developers, data scientists, financial services experts and business builders from successful startups and large corporations such as Deloitte, Capital One and
Procter & Gamble.


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