Expert and facilitator: Tony Crane, Crane Consulting
Headlines:
- Evolving markets and the role of AI and data in segmentation
- Mortgage lending practices and the value of client relationships
- Fee structures and balancing service with value proposition
- Technology integration and industry collaboration
- Trends shaping the future of mortgage and financial services
Discussion Points:
Evolving Markets and AI/Data Trends
The group explored how the mortgage market is evolving, debating whether it should be viewed as a single entity or a collection of specialised segments.
AI and data were discussed as tools for identifying and responding to consumer needs in segmented markets.
Mortgage lending practices and client relationships
Delegates shared perspectives on lending practices and the importance of strong client relationships.
Navigating underwriting processes and working with various lenders was highlighted, as well as a personalised service being the differentiator in building trust and delivering value.
Technology’s role was acknowledged as a potential enabler but with caution about losing the human touch in interactions.
Fee structures and value proposition
The conversation turned to fee structures and their alignment with the level of service provided.
Value proposition - balancing fees with the complexity and quality of advice and the regulatory impact with the potential changes stemming from Consumer Duty regulations were also discussed.
Technology integration and industry partnerships
Delegates explored the role of technology in creating seamless experiences through integration and collaboration.
Partnership opportunities were discussed with the potential for partnerships among lenders, brokers, and service providers to streamline processes and enhance customer satisfaction.
Industry trends and future outlook
The session closed with speculation about broader trends shaping the industry and the potential impact of tech giants like Amazon entering the financial services space.
Key Takeaways:
- Explore opportunities to collaborate with wealth managers and financial advisers to offer more comprehensive client services
- Assess the potential benefits of implementing or adjusting fee structures to reflect service levels and value delivered
- Leverage technology and data sharing to streamline processes and facilitate collaboration with industry partners
- Monitor and adapt to evolving market trends, regulatory changes, and consumer needs to maintain relevance and deliver value
- Focus on blending technological efficiencies with personalised service to meet growing consumer expectations.Top of Form
