Twenty7tec podcast explores Steppl, AI and client retention
Twenty7tec’s latest ELEVATE podcast examines the launch of Steppl, the role of AI and automation in advice, and how firms can use technology to build longer-term client relationships.
Twenty7tec has used the latest episode of its ELEVATE podcast series to explore the launch of Steppl and the changing role of technology in mortgage and financial advice.
The episode, hosted by Ellisha Jade, features chief executive officer James Tucker and product owner Jon Guerra Fernandez discussing client expectations, AI, automation and the move from transactional advice towards longer-term client relationships.
Steppl has been developed to address fragmentation across the advice journey, where client information, communications and documents can be spread across different systems and channels.
The platform creates a secure digital environment connecting advisers and clients, with the aim of reducing administration and making it easier for customers to provide information and documentation during the advice process.
Jon Guerra Fernandez, product owner at Twenty7tec, said: “The aim is to reduce the tasks that don’t really add value, so advisers can spend more time doing the things that do, providing advice and building relationships with their clients.”
Twenty7tec said ongoing engagement is a central part of Steppl’s development, rather than positioning the platform solely as an onboarding tool.
James Tucker, chief executive officer at Twenty7tec, said: “The cost of acquiring new clients is so high that losing a significant proportion of your existing client base without servicing and retaining them effectively is a real issue for advice businesses.
“That has to be addressed through ongoing engagement with the client, and increasingly the best way to do that is digitally. Steppl is the start of that journey for us, helping advice firms not only onboard new clients more effectively, but build stronger relationships with them once they’ve got them.”
Tucker also said consumers increasingly expect financial services technology to match the digital experiences they receive elsewhere, making client-facing technology more important for advice businesses.
Steppl has been designed to support firms operating across mortgages, protection and wealth, with the longer-term aim of enabling ongoing communication throughout a client’s financial journey.
AI and automation will also form part of the platform’s development. Guerra Fernandez said Steppl can use AI to support tasks such as extracting information from documents while retaining human oversight, with advisers reviewing and validating information before it progresses through the advice process.
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