It is designed to streamline the switch journey
Mortgage software provider finova has introduced its new retention portal for existing customers nearing the conclusion of their fixed-term mortgages who might be considering switching products.
Developed on finova’s SaaS banking platform, Apprivo, the portal is designed to simplify the mortgage switching process and offer customers the flexibility to evaluate their options, select the best-suited product, and choose a switch date. It also allows for the payment of any applicable fees.
Security features include data encryption, multi-factor authentication, and regular security audits, ensuring a secure and reliable user experience.
Lenders can customise the portal to align with their brand identity and configure it to meet specific customer journey requirements. It can also integrate with existing servicing solutions.
In adherence to regulatory standards, the portal meets Level AA of the Web Content Accessibility Guidelines (WCAG AA), enhancing accessibility for all users. It includes design elements intended to support lenders in complying with Consumer Duty, encouraging thorough and informed decision-making among users.
With approximately 1.6 million mortgage deals set to conclude in 2024, as reported by UK Finance, finova said there is a growing emphasis on the need for lenders to adopt quicker retention strategies.
“As the UK’s leading provider of mortgage and savings software, the finova team is constantly exploring new avenues to refine and streamline our customer service,” said Chris Little (pictured), chief revenue officer at finova. “The launch of our new retention portal solidifies our ongoing commitment to helping lenders better serve their customers and meet their evolving needs.
“As part of our ongoing strategic direction, we have invested in a new user experience team, which is charged with ensuring that our customers can truly get the most from our product offering. With several new updates in the pipeline, we will keep working alongside lenders to ensure customers who want to switch can do so with ease and speed.”
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