Burrow launches a Digital Mortgage Platform with Client Portal and Retention Marketing solutions for Intermediaries and is piloting with over 30 brokerages.
- Core Banking , SaaS
- 27.04.2021 12:45 pm
Burrow has today announced that it is expanding its API-led Digital Mortgage Platform to include 2 powerful modules developed for mortgage brokers - an intuitive Client Portal and smart Retention Marketing.
Burrow released its popular Onboarding Module in 2019, which is utilised by many leading UK brokers including Blueberry Mortgages, 313 Financial, Rose Capital Partners, EweMove and One77 Mortgages. In addition to the platform’s existing Onboarding Module, the enhanced platform now includes:
A Client Portal
Research conducted by DPR Group showed:
- 55% of brokers say fact find would increase operational efficiency.
- 79% of mortgage applicants would be comfortable using digital signatures.
The new Client Portal module gives brokers the tools to provide a digital application experience from anywhere. The Portal changes the way in which brokers and their customers interact, offering an extended digital fact find, document upload, digital signatures, biometric ID verification and open banking connectivity. The Portal simplifies everyday admin processes by providing live status updates to clients, digitally generated reports, and an appointment management feature to help brokers keep on top of workload.
The research also showed:
- 67% of consumers would explore mortgage options with a broker if they were contacted before their deal ended.
The Retention Module comes at an important time with historically low interest rates and with hopes the pandemic enters a more stable zone. It aims to provide brokers with the tools to compete with the rising number of product transfers caused by low repayment rate options and the busy purchase market. Using automated email updates for key customer engagement points, remortgage prospects and cross-selling opportunities, the Retention Module is designed to improve client retention rates and increase brand awareness.
Burrow - Digital Mortgage Platform
The cloud native platform, which is accessible via mobile and web, has been enhanced using real broker feedback to ensure it encapsulates the features brokers really need to succeed. Combined, the two modules will offer a seamless, full-service digital mortgage experience.
Burrow quickly filled up its quota of 30 broker firms that wanted to be first to test out the solution. Officially launching this summer, interested firms are invited to join the ‘Early Adopter List’ via the Burrow site to ensure priority access to the platform once open to everyone.
Pradeep Raman, Founder of Burrow commented:
“Unprecedented activity levels in the purchase market, paired with high rates of product transfers and a challenging market for cross-selling, has created a difficult environment for brokers over the past twelve months."
We have listened to brokers and what they really want, and we are proud to be launching a product which cuts through the noise and provides the tools for an end-to-end mortgage journey, from initial research stage through application to renewal.
“It is essential to us that the Burrow Digital Mortgage Platform helps brokers hit the ground running, which is why we are offering limited spaces on the launch. Brokers are encouraged to join our ‘Early Adopter List’ to ensure they receive full access in the summer and can start reaping the benefits from the outset.”