Mortgage Choice delivers new Broker Platform to franchise network

Mortgage Choice delivers another initiative to help franchisees grow their businesses


December 18, 2018

Mortgage Choice franchises across Australia are now using the Company’s new cloud-based Broker Platform, enabling them to write loans faster while improving the overall customer experience.

Investment in technology
Mortgage Choice invested $3.4 million in its new Broker Platform. With a focus on reducing data entry across multiple systems, the platform enables a smoother loan submission process and increases productivity.

Mortgage Choice CEO Susan Mitchell said, “We are delighted to unveil our new Broker Platform, which has been built to meet the specific requirements of brokers and improve productivity so they can continue to grow their businesses.

“Designed and built in-house by a talented team of technology professionals, the new Broker Platform easily integrates with multiple systems to reduce data entry, to deliver good business outcomes for our brokers and improve the customer experience,” said Ms Mitchell.

Successful pilot program
Prior to launch, Mortgage Choice ran a pilot program for the new Broker Platform with a group of 85 franchises across the country.

In pilot testing, brokers found that the platform’s software significantly reduced the time it took to write and submit a home loan, to improve broker efficiency by 30%.

Brokers applaud new platform
Jason Puxty, local Mortgage Choice broker in Orange, Bathurst, Dubbo and the Central West took part in the Broker Platform pilot program and was impressed by the system’s speed and ease-of-use.

“The new Broker Platform is intuitive and has some great features that will improve the customer experience.

“As the foundation of my business, the new Broker Platform enables me to more efficiently model a transaction and structure a scenario to understand a customer’s borrowing capacity.

“The product catalogue allows me to quickly and simply select a suitable home loan product. It’s very visual, so it’s easy to engage the customer and talk them through the home loan application process.

“It was important to me as a broker that Mortgage Choice ensured the new Broker Platform could cover off all of the tasks that the previous Discovery system could do.

“They also managed a seamless transition to the new system, which included face-to-face training and webinars. This was important to my team and I because we could start to write loans from day one,” concluded Mr Puxty.

Cool Tech Tools
Under the hood of the Broker Platform there are some great features that enable Mortgage Choice brokers to run their businesses efficiently:

• Dashboards to understand sales performance and sales pipeline;
• Comprehensive transaction modelling to accurately understand customers borrowing capacity;
• A detailed product catalogue for all lender products on the Mortgage Choice panel;
• Pipeline displays to quickly see the status of inflight loans.

Mortgage Choice will continue to invest in its technology to enhance the platform, with process automation the next cab off the rank. Process automation will increase broker efficiency even further and the planned enhancements will continue to improve the customer experience.

Things are changing for the better at Mortgage Choice
“After a year of review and change necessary to recalibrate the business for a long term sustainable future, things have changed for the better at Mortgage Choice and there are exciting times ahead,” said Ms Mitchell.

“As part of our company-wide change program, the introduction of our new broker remuneration model and new Broker Platform underline our vision and capability as a franchise group to deliver to the needs of our growing franchise network.

“We are also focused on growing the Mortgage Choice Financial Planning business, which not only enables our brokers to diversify their revenue, but will also enable us to achieve our vision to be Australia's leading provider of financial choice and advice,” said Ms Mitchell.


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