"Advisers are clearly seeing an improvement in the speed and efficiency of the advice process when utilising technology, and this can only improve the service they provide to clients."
The Virtual Roadshow, launched as part of Financial Reporter’s new digital events calendar, sees the popular roadshow format reimagined as a virtual meeting room to comply with current social distancing needs - with leading financial technology providers on hand to educate and inform delegates.
Speakers from three tech providers - The Moving Hub, 360.net, and OMS - explored a range of topics, including how technology has changed conveyancing and which steps in the mortgage process can be assisted using fintech.
Attendees for the event were asked whether they agreed with concerns that growing fintech capabilities, such as the much-discussed ‘robo advice’, would mean more consumers would go directly to lenders. 50% of respondents said that the rise in technology would make no difference to how many consumers would go direct to lenders, with 23% saying they thought fewer consumers would do so. Comparatively, just over a quarter - 27% - did feel that the rise of technology such as app-based mortgage applications would encourage more consumers to go direct.
When asked whether they had noticed a measurable improvement in the speed and efficiency of the advice process as a result of mortgage technology over the last year, 43% voted ‘yes’. Half (51%) said they weren’t sure, and just 7% voted ‘no’.
To see upcoming Virtual Roadshow events from Financial Reporter and get your free place, visit www.frvr.co.uk.
Barcadia Media communications director Amy Loddington, who hosted the event, said: “While advisers were already utilising technology in their day-to-day business, the need to rely on digital channels during lockdown has prompted advisers to expand their online offering and feel more confident in using new technology.
“It’s therefore reassuring to see that advisers see technology as help, not a hindrance, to their client offering. Advisers are clearly seeing an improvement in the speed and efficiency of the advice process when utilising technology, and this can only improve the service they provide to clients.
“During the Covid-19 pandemic, good quality financial advice has never been more important. With clients seeing a change in their working and financial situations, coupled with a reduction of mortgage products on the market, advisers can take this opportunity to show the value of good quality face-to-face advice.”
Dhaneer Popat, head of sales and account management at 360 Dotnet, commented: “Virtual Events such as the ones hosted by Financial Reporter in my opinion should be attended by as many advisers as possible. These events provide usual information to advisers about products and services which are on offer to the industry which could benefit all sizes of businesses in creating better efficiencies or increasing business revenue through different revenue streams which may not have been known. More events like these would provide a key service to the financial services industry and all businesses within the sector.”
Oliver Meddick, chief operations officer at The Moving Hub, added: “I find these events so important especially in the new landscape we are all navigating. To be able to offer assistance to advisers and access to systems that could be very valuable to them moving forward is something that I am very pleased to do. Technology can be a real asset to brokers and their businesses moving forward, use it don’t be scared of it.”
