Burrow has launched a digital mortgage platform with client portal and retention marketing solutions for intermediaries.
The platform will be piloted with more than 30 brokerages, and gives brokers the tools to provide a digital application experience.
The portal offers an extended digital fact-find, document upload, digital signatures, biometric ID verification and open banking connectivity.
Iress partners with Burrow
It also provides live status updates to clients, digitally generated reports, and an appointment management feature to help brokers keep on top of workload.
The retention module 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 aims to improve client retention rates and increase brand awareness.
According to research conducted by DPR Group, 55% of brokers say fact find would increase operational efficiency and 79% of mortgage applicants would be comfortable using digital signatures.
Additionally, 67% of consumers would explore mortgage options with a broker if they were contacted before their deal ended.
Pradeep Raman, founder of Burrow, said: “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 12 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.”
