Intermediary firms dealing with high volume

Neal Jannels is managing director of One Mortgage System (OMS)

We all know how busy intermediary firms currently are and handling this increased volume during a time when many people are still working from home has certainly proved to be a challenge for many.

As a tech business, we were in the fortunate position where the switch to remote working was relatively painless. We are also one of the fortunate few who have been able to grow during the recent pandemic.

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As such, we have expanded our support and development teams to provide an additional resource to incorporate a range of improvements to the OMS offering and offer stronger levels of expertise throughout the API integration process.

Expansion within any business can often prove to be an exciting yet daunting prospect at the best of times, but when faced with an uncertain economic future, these sentiments are intensified.

Individual businesses have all had to cope with these unprecedented market conditions in their own way and many great businesses have been hit hard through no fault of their own. Technology has obviously been vital in overcoming adversity throughout this period but people remain the heartbeat of any good business and it is important to realise how workforce dynamics might be changing.

So, it was interesting to see research from Culture Shift highlight that while some financial sector bosses have welcomed remote working with open arms, others have struggled to trust their employees to work autonomously, with some even deploying surveillance to track exactly what their workforce is doing.

In addition, 87% of employees in financial services said good communication from their employer is vital and 83% said flexibility is an important factor to their happiness at work. The same report also uncovered that remote working opportunities are imperative for the majority (82%) of finance employees across the UK, with more than half (56%) saying they would like to remain working from home, 53% dreading going back to the workplace and 56% are worried they will not be able to adjust to going back.

That said, one-third (33%) have felt imposter syndrome (self-doubt) more so while working from home.
Whether businesses are expanding, having to scale back, working 24/7 to maximise opportunities or bending over backwards to ensure their clients needs are being serviced, technology will remain integral to employee happiness, business efficiencies and client satisfaction.

The recent COVID-19 related issues facing the mortgage market have certainly highlighted the benefits attached to integrating the right tech solutions to help streamline front and back-end processes. This is especially apparent for advisers when it comes to freeing up more time to better service the needs of existing clients and in exploring additional revenue generating opportunities. Both of which will remain key ingredients in the ongoing success of any intermediary offering moving forward.