"GMAC-RFC is often asked why technology is so important to GMAC-RFC and the answer always remains the same. We listen to our clients, the brokers and packagers and understand what demands they are up against to continually offer a competitive edge to their customers, the consumer.
In a fast moving, technological world we now live in, technology used in the right way can enhance business efficiencies and increase productivity. Technology does not replace people but more importantly improve reputation.
In August 2006 GMAC-RFC was the first lender in the world to provide instant on-line point of sale mortgage offers using the integration of automated valuations (AVMs). This has revolutionised the mortgage market with a few other lenders copying with similar systems as brokers have been quick to respond by successfully using the POSO system.
This has meant that the packagers and brokers have adapted their business process and models to embrace the benefits of the technology. GMAC-RFCs Pioneering POSO system helps clients and takes the pain away from antiquated manual systems that simply leave a trail of paper chasing and prolonging the whole already stressful process.
On-line offers has meant that our average speed to offer time is now down to just over 3 days compared to the industry average of 10.7 days. For instant offers the time reduces even further to 25 minutes on average. For brokers and packagers that have not yet tried the system for fear of the unknown, GMAC-RFC’s POSO was launched to be fast, easy and beneficial to them.
In a recent survey GMAC-RFC carried out, 97 per cent of brokers said that our POSO was easy to use and that on average 62 per cent had seen offer speeds reduce by 50 per cent or more which their clients were impressed by which in turn has enhanced their reputation.
People will always buy from people, technology just helps the process and gives back more time for, the family, improving quality of life, time to write more business or simply spend time improving your golf handicap. Technology doesn’t replace people ore relationships. It gives a consistent definite approach."
