The technological advances in the mortgage industry in the last year have resulted in many brokers transforming their businesses to reflect the new age - POS-O in particular has been one of the breakthroughs of the year. Goldsmith Williams is now urging all brokers to resolve to embrace technology as they prepare for 2007, thereby giving their businesses a much greater chance of success.
From a conveyancing perspective, the industry has moved forward considerably in the last year, with significant investment in new technology. More sophisticated case tracking systems have been introduced and many companies have worked hard to put measures in place to speed up the conveyancing process as a whole.
Eddie Goldsmith, senior partner at Goldsmith Williams, commented: “Technology has become an increasingly important feature of our business and we are delighted with our progress in this area in the last 12 months. Launching GWLive, our new generation of software for brokers, has been the highlight of 2006 for us - cases can be opened instantly and brokers have 24-hour access to exactly the same information as the solicitor, thereby allowing the broker to have more control over the speed at which a case progresses.
“There has been an excellent response to this software so far. 50 per cent of all our cases are now instructed via GWLive and last month’s Expo in London saw 500 new brokers registering on the stand - it is clear that brokers were ready and waiting for this technology.
“Looking forward to 2007 and the introduction of HIPs, I would say that brokers who have shied away from the innovations in the industry until now need to look at what they could gain from embracing technology, making a concerted effort to enhance their offering in this area. By speeding up their processes, they can then focus on customer service, ensuring that their clients are retained for longer.”
