Criteria search business Knowledge Bank has launched a new business enquiry platform within its existing criteria system.
Called ‘Notify’, the system allows brokers with a subscription to Knowledge Bank to submit new business enquiries, while lenders will be able to access it via the lender system KB Pro.
Notify will come into play when a broker has conducted a criteria search, but they have a case that does not quite fit.
It was introduced to enable brokers to contact lenders directly, quickly and easily, with the details of the case and their enquiry.
Rather than ringing numerous lenders, sending emails or starting Live Chat sessions, which can be time consuming, the Notify system allows them to send an enquiry to multiple lenders at the same time and see their responses in one place.
Brokers can include full details of a case and monitor replies from lenders in real-time.
Once a broker has placed the case, Notify can be updated with details of which lender the case was placed with, withdrawing it from view of the other lenders, so they know to no longer spend time on it.
Brokers can access a full audit trail of conversations that took place with different lenders, and the Notify system also links directly to a decision in principle (DIP) with a unique tracking reference number.
For lenders, Notify is fully customisable, and enquiries submitted by brokers can be divided by postcode region in order to match with the correct BDM.
Lenders will also be able to see exactly why they lost a case, enabling them to alter their criteria to maximise new business opportunities.
Nicola Firth (pictured), CEO of Knowledge Bank said: “There is nothing in the mortgage market like Notify. The design of this has been driven, as always, by our mission to ‘assist brokers and lenders to find each other and place cases more quickly and accurately than ever before’.
“The question we always ask ourselves is ‘Does it benefit the lender? Does it benefit the broker, and does it benefit the end customer?’, and we absolutely believe that Notify will do all three.
“It will enable brokers to place more cases faster and more efficiently than ever before, while providing lenders with access to more enquiries, better quality cases and increase the productivity of their sales teams.”
Ying Tan, chairman of Knowledge Bank, added: “Notify is a revolutionary new business enquiry system.
“A powerful tool for both mortgage brokers and lenders. It allows lenders to deal with multiple new business enquiries in real time and get decisions back quickly.
“It drives efficiencies by allowing a lender’s sales team to focus on cases they may consider and those which are still active and haven’t already been placed elsewhere.”
