Currently, members of the packaging alliance use one of two systems but AMPD believe a solitary system would help speed up applications and make it easier to complete business with it.
Eddie Smith, director of operations at AMPD, said: “We are looking to have one system used by our members so all business can go through one portal. Most lenders are trying to speed the process up with technology, such as point-of-sale offers, and this way we can react to that and make things a lot easier for clients.”
When the debate about packaging alliances was at its greatest at the turn of the year, one of the main reasons for joining an association such as AMPD was the ability to invest in technology, and Smith argued this was an example.
He believed the march of technology was set to continue so that in the future, all business would be done electronically.
“The move towards 100 per cent online trading is unstoppable so it is how you react to that fact which is important. A common trading platform has been talked about forever so brokers don’t have to remember individual lender websites, but what this does is create a single system for all our members.”
David Mead, managing director of Flexible-mortgage.net, said: “If packagers can use a single system, it will make the processing speed quicker, which in turn will get a quicker offer for the introducer. However, the greatest challenge for packagers at the moment is how they will deal with the advent of instant offers.”
