Technology and Tools
Promise Sourcing & Packaging, is a technology lead solution to help brokers increase conversion rates and drive costs out of their process. We offer to our members a Secured Loan underwriting, sales and document printing system which is believed to be the most advanced in the UK. The underwriting engine is hugely accurate and has an inbuilt document printing module which does not rely on lenders own technology to produce credit agreements, early settlement calculations, statement of price etc. Secured Loan brokers, whether they are new to the market or well established with direct lender relationships, can gain access to this revolutionary technology free of charge as well as potentially enjoying enhanced commission rates. Brokers joining the secured loan network will gain real competitive advantage, increase conversion rates and reduce their costs.
Here are just a few of the benefits
- Instant and accurate point of sale underwriting and quoting – reduces time to yes, reduces rework, reduces abortive time, reduces costs – increases customer satisfaction, increases conversion rates and increases margin.
- Instant links to lender systems – enabling you to score applicants instantly on the lender system where appropriate. Qualifying products are dropped back into the results table for easy compassion.
- Product refining tools - including nearest alternative product, lenders performance comparisons, fixed/discounted/ interest only filters, consolidation and credit search screen screens
- Compliance aids – full product disclosure including early settlement costs, fees, APR’s, insurance costs, commissions and broker checklists to aid disclosure of relevant information and help treat customers fairly
- PPI module – providing for each lender/insurer, accurate repayments, statement of price illustrations, eligibility screening, key features, benefits and exclusions and all information needed to support a complaint sale
- A choice of a fully packaged facility or you package direct to your chosen lenders – dependant of your experience we can undertake the packaging for you, do the packaging on certain lenders whilst you go direct with others, or you can have a direct relationship with all lenders.
- View your commission as you underwrite. Promise pay market leading commissions
– If you ask us to package on your behalf, we can pay you some of the highest commissions as our technology reduces our costs and increases conversions. If you wish to package direct to lender, because of our volume arrangements with the lenders, we aim to ensure you receive as much commission as you are getting now, if not more, and you get the use of our technology free.
- Integrated Lender documents and letter production for more experienced brokers
– lender documents and calculators are fully integrated into the system so you can print bespoke day one documents including lender documents and your own letterheads instantly.
- Unsecured Loan Module – if a secured loan is not available, an unsecured provider will be recommended
- Debt Management & IVA Module – Some customers should not borrow more and need help. After considering all existing borrowing, and the credit search details, the system will guide you to an appropriate solution
- Sub Prime Mortgage Comparison Module - Compare loans and sub prime mortgages side by side helping you to treat your customer fairly. (coming by Q1 2008)
- Promise Quote PRO – Do you have a sales force who visit customers in their own home. Many of the services which are appropriate to field sales are available in an off-line version including the integrated credit search, and document printing.
- In House processing, marketing, accountant management team. In fact every thing you may need to help you grow your business is available through Promise.
- Online registration – you can be sourcing and submitting loans within the hour
All the technology provided by the Secured Loans Network is developed and maintained in house by an experienced team of developers, processors and underwriters. It is built for brokers, by brokers, and because we control all of the technology, we are open to ideas for rapid future enhancements.