"It just doesn't come from picking up the phone or returning emails within a certain timeframe"
Quality of service should be the calling card of a mortgage brokerage or lender – and this is an area where technological innovations are well placed to make the greatest impact, according to Joe Flor of Equitable Bank.
“One of our main pillars of being a challenger bank is really focusing on that service,” Flor told Canadian Mortgage Professional. “I know it’s a cliché that everyone uses: ‘We have the best service.’ You hear [that] from every industry and every person – but for us, it really is our core value at Equitable Bank, and it just doesn’t come from picking up the phone or returning emails within a certain timeframe.”
Flor stressed that this capability stems from the technology that Equitable “can provide our broker partners to make things more efficient and easier.”
“We just came up with our own portal with Equitable Connect. We’ve got the automated appraisals that we offer, and we have a few other things that we’re working on that are going to make things even more efficient for our broker partners.”
Read more: How big a role are fintechs playing in the mortgage market?
Ultimately, it boils down to making transactions as smooth as possible, “because at the end of the day, speed is important with our partners,” Flor said.
“I know it’s not as busy for some, but speed is so important because if you’re not a broker today and you’re not quick at responding to your client, someone else will be. And you could lose that client.”
Especially in the current environment where more and more Canadians need financial solutions “it really is all about who’s going to get [the] deal done faster and better and with a better rate,” Flor said. “So our focus is always going to be driving the best service.”
For more insights on the current and future roles of technology, click here.
