Dx: Digitising the lending experience
According to Royce Tully, Pepper Head of Technology, “time is the new currency.” And the right technology can help brokers and introducers have more time with their customers.
“It’s not just about attracting more customers, but making it easier for them throughout the process,” he said. “And Pepper does not want to be the clunky part of your journey.”
Brokers have told Pepper their priorities include:
- growing and managing revenue, by matching the right products to the right circumstances,
- keeping costs down by being more efficient, and
- managing risks to keep their commitments to client security and privacy.
According to Royce, creating better digital experiences will help drive success for all three of these business fundamentals.
Pepper is investing in purpose-built platforms to deliver that digital experience. gives mortgage broker customers certainty within minutes.
Asset finance partners are already using Pepper’s new Draft API, which takes CRM data into Pepper’s Solana platform without any re-keying for automated application lodgement – along with improved visibility of application status.
And now, Pepper is about to launch a digitised mortgage origination – with fewer documents, faster approval, and broader digital signature enablement.
“The aim of these digital plays is to answer questions faster, loop you into what’s possible, and build greater trust in the transaction,” explained Royce. “Ultimately, it’s about giving you more time with your customers.”
Watch Royce discuss the fundamentals of digital experience.
For asset finance introducers, Dentons’ David Carter discussed the importance of understanding the definitions under best interest duty. While it does not apply yet to asset finance intermediaries who do not handle mortgages, responsible lending obligation changes in late 2020 indicate Best Interest Duty will be extended to all consumer finance brokers.
Watch David discuss the key regulatory take-outs.
Bx: the people who can make or break your business future
Lisa MacCallum, founder of Inspired Companies and co-author of Inspired Inc, says “businesses who have the world onside have a competitive advantage.” She described a power shift towards “the new CEOs”: customers, employees and outsiders.
“This (strategy) is available to all businesses, if you’re paying attention,” she said. “People are watching us more closely than ever, and they have higher expectations.”
Through the power of social media, customers and employees have an amplified voice – and can be powerful advocates for your business. With 92% of customers checking online reviews before making a purchase decision, the stakes are high. Outsiders include the media, investors and regulators. “They can make red tape, or cut it. Point fingers, or lend a hand when you need them,” said Lisa.
Some companies are able to move fast and get it right. They have an inspired mission that is bigger than profit, and authentic values that inspire the right actions. And where they invest matters – in long term value for the greater good.
“This power shift has already happened, and there is no going back,” said Lisa. “The future belongs to companies that stand for big ideas. And then show up in ways that keep their stakeholders on side.” That’s the simple (yet challenging) key to future business success.
Wrapping up the event, Pepper Money CEO Mario Rehayem said Pepper is fixated on removing any barriers for brokers and introducers, so they can get more deals done – whether that’s for a car, caravan or a home. “Our number one objective is to make your life easier, and your customers’ lives easier,” he said.
In 2021 Pepper celebrates a milestone – we’re bringing 21 years of knowledge and capabilities to implement a number of changes to create more seamless experiences, and to help more people succeed.