Every firm offering mortgages must adhere to strict regulatory processes and procedures to ensure that customers are treated fairly, and can afford the amount they seek to borrow. This almost always requires a conversation between an adviser and the customer either face-to-face, over the phone or via video. In order to make sure that advisers are applying the lenders’ processes consistently and appropriately, there is always a need to check the suitability of any advice and the quality of service given to customers. This carries a number of inherent challenges:

• Audit trails are often incomplete resulting in compliance vulnerabilities on a daily basis. Furthermore, file management is often poorly structured meaning that when case reviews are needed, simply gathering the required information is difficult adding time and costs to audits.
• Reviewing records is laborious. This can force firms to randomly sample for BAU monitoring creating vast blind spots while remediation projects can quickly escalate into lengthy and expensive ordeals.
• It is difficult to effectively manage performance, conduct and culture across the organisation. Supervisors often struggle to spend time with advisers and advisers often don’t get the support they need. This can jeopardise customer care, compliance, risk management and sales messaging.

Recordsure is designed to tackle challenges like these at source. With a background in financial services, we use smart technology to support teams and have a proven track record in mortgage departments. Our analytics and automation tools drive huge efficiencies in review processes, improve customer outcomes by providing greater clarity of what is being discussed with customers and managing risks with advanced anomaly detection systems.

Download our Mortgages guide to gain an in-depth understanding of the challenges our clients face and the solutions we have developed to tackle them.