Dashly will run its adviser-only pilot exclusively through Paradigm Mortgage Services – of which Hawke is a member – until the New Year, before making itself available to the wider mortgage adviser community in January 2020.
During November, Hawke will be putting its entire client base onto co-branded Dashly dashboards which work to identify clients that could save money by switching, even if they are in a fixed rate period and need to pay an early repayment charge and other costs.
Bob Hunt (pictured), CEO of Paradigm Mortgage Services is also a non-executive director at Dashly.
Actively comparing mortgages
The tool claims to provide advisers with an “always on” whole of mortgage market comparison service, which integrates with multiple customer relationship management systems (CRMs).
It does this with the use of credit reference agency, house price and up-to-date mortgage balance loan to value data.
Furthermore, if an adviser’s clients choose to do so, they can also share their current account data through an Open Banking application programming interface (API) to streamline the algorithms.
When product switches are identified, they are flagged to the adviser who can then decide whether to contact their client.
All clients given a dashboard by their adviser also receive a personalised home report each month, with updated information on their home’s value and mortgage balance.
Advisers can also gift their clients a Dashly branded lighthouse fridge magnet that flashes green to notify them when they can save on their mortgage.
Improving adviser-client relationship
Robin Fawke, partner at Hawke Financial Services, said: “Dashly has given us so many more chances to speak to our clients, which keeps us front of mind in a way that just hasn’t been possible before.
“With a lot of lenders proving increasingly aggressive in approaching our clients, we need to remain on their radars and Dashly tackles this problem head on.”
Hunt added: “With advisers under pressure from all corners, Dashly will play a big part in ensuring 2020 is the year that fintech really makes a positive difference to the relationship between adviser and borrower.”