The system means that when a broker places a case, Notify will update the lender the case has been placed with, removing it from the view of other lenders. This means that responses stop and unsuccessful lenders know they do not need to continue spending time on it.
Notify will provide brokers with a full audit trail of the conversations with different lenders, helping them demonstrate that the best advice has been given, while the system will link directly to a decision in principle (DIP) with its own unique tracking reference number.
Knowledge Bank said that Notify will be fully customisable for lenders, allowing them to divide enquiries submitted by brokers by postcode region, ensuring that only the correct business development manager looks at a case. The idea is that the system will save time for brokers, and ensure that lenders handle enquiries more efficiently, with no time wasted on lost cases.
Ying Tan (pictured), chairman of Knowledge Bank, said that the new business enquiry system would be “a powerful tool” for brokers and lenders alike.
He continued: “It allows lenders to deal with multiple new business enquiries in real time and get decisions back quickly. It drives efficiencies by allowing a lender’s sales team to focus on cases they may consider and those which are still active and haven’t already been placed elsewhere.”
Notify comes after Knowledge Bank launched a new Consumer Duty tool, as well as a function to clear up lender communication called KB PRO.
