Following the launch of its stand-alone TCF system earlier this year, Home Buyer believes that the workflow management element is proving to be essential to its TCF delivery.
Richard Angliss, managing director of Home Buyer Systems commented: “We know that the FSA is conducting a widespread campaign to encourage the delivery of TCF by smaller firms, and it will be looking for proof that all of the TCF outcomes are being achieved. Outcome number three is all about treating customer fairly by communicating clearly before, during and after the point of sales. Brokers cannot hope to achieve effective after-sales follow up without an effective workflow management system that prompts follow up at the right time.
“For example, the fair treatment of customers should include following up on short term fixed and discounted rate deals to help find the best replacement deal. Brokers should also follow up interest-only deals with a view to ultimately providing a solution to repay the capital , and they should be looking to get adverse credit customers back onto a mainstream product as soon as possible. An effective workflow system is the only way to keep track of all this and prompt actions at the appropriate date.”
At a time when the mortgage intermediary industry is undergoing substantial re-structuring and consolidation, Home Buyer Systems also points out that an effective and active workflow system represents a substantial and saleable asset.
Angliss continued: “It is often the case that brokers reach a glass ceiling when re-working their own databases to generate new business, and there is a thriving market for the sale and purchase of new customer databases from brokers who are scaling down or exiting the sector. A customer database that has been actively managed by an effective workflow system will have inbuilt diary-forward dates opportunities to approach customers with new suggestions, and could be highly sought after by expanding firms.
“In addition, mortgage networks must be able to ensure that the diaried actions are followed up by the ARs. Home Buyer provides a warning system that alerts the network to any actions that are not followed up, therefore ensuring continuity of TCF to the customers of any their ARs.”
