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ISCOVER
Staff Reporter
Macquarie Bank's financial planning software provider COIN has launched a new mortgage solution to help brokers with their NCCP compliance requirements.
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The solution, COIN Mortgage, allows brokers to create customised workflows that build in regulatory requirements and automate business processes to make sure everyone follows the same process.
In addition, COIN Mortgage provides automated loan status updates from application to settlement, enabling brokers to track the status of their clients' loans from a single view.
Macquarie adviser services head of product and technology for COIN Robert McCabe said the solution uses a single client data capture point, creating a seamless and efficient data flow as users only need to enter client information once to be populated across all areas of COIN Office.
Mr McCabe said the solution was developed after extensive broker consultation.
“One of the common requests was for a solution that made life easier for brokers at a time when there is a lot of change in the industry,” Mr McCabe said.
“The introduction of the NCCP legislation has created a new imperative for brokers to implement a robust process to manage compliance obligations. The industry is also becoming a more competitive space as a growing number of financial advisers are seeking to diversify their business streams and move into mortgage broking.
“As the industry evolves, it is essential for brokers to work smarter and by having access to tools such as COIN Mortgage, we believe we have a solution that helps them to meet some of these challenges and enables them to work more efficiently.”
Mr McCabe said the solution offers a lot more than compliance assistance.
The software program is also a loan product research and comparison solution, which provides a client-friendly view across up to 10 different products at once, helping brokers to increase the efficiency of loan searches and improve client engagement.
Through the product comparison, advisers can compare loan features, interest rates and fees, cost analysis based on a client’s loan scenario and a snapshot of feature differences.
