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A mortgage broker has launched a processing hub in India that he said would allow brokers to focus on sales rather than paperwork.
Andrew Morel said Process Assist was designed to take CRM management and loan administration activities away from the brokers.
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He said Process Assist would allow people to act like old-fashioned brokers who were able to focus on sales and referral relationships rather than paperwork and compliance obligations.
Mr Morel also toldThe Adviser that outsourcing these back-end tasks is a cheaper and easier alternative to hiring an in-house personal assistant.
“As a PA we’re directing the broker in what to do, not the broker trying to direct the process. If you don’t have a good PA telling you what to do, you basically don’t have a PA,” he said.
“You put on a full-timer and it becomes a massive headache and it takes you right away from what you should be doing, and that’s going out and writing business.
“You become an office manager, which you don’t have time to do as a small business mortgage broker.”
Process Assist has three Australian directors and five staff in India, and is working with Connective, Choice, PLAN and FAST, according to Mr Morel.
The business will be officially launched at a Connective development day on August 13, although it has already operated in pilot mode with a small number of brokers, he added.
[Related: Leading brokers wary of outsourcing]
