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IWD 2024: To facilitate advancement in equality, we must replace legacy systems
Fri, 8th Mar 2024

We’re not living in easy times. The pressures of modern life are stressful enough, not to mention the cost of living crisis, the economic and political state at large, and unprecedented technological advancements that make working around the clock entirely possible and commonly expected.

But technology advancements aren’t all bad. Maybe things had to get a little bit more complicated so they could become as simple as ever. 

The theme for this year’s International Women’s Day, ‘Invest in women: Accelerate progress’, got me thinking about where I’d like to see investment to facilitate some serious progress in equality, productivity, and creativity. 

Given I’ve spent the last 17 years in asset finance, it’s no surprise that for me, it’s in technology that is revolutionising the industry. 

It’s not just a figure of speech. Technology like this exists. Our team is working to make applying for a business, car, or personal loan as easy as checking out in an online shop. We’re simplifying the entire system and offering benefits to everyone involved in the finance process.

For lenders and brokers, this means having the opportunity to provide outstanding service to their clients and freeing them up from processing so they have more time to focus on what they do best. Our bold vision of entirely automating the loan application process has become a reality. Thanks to technology that allows customers to upload all supporting documents in one easy step, we’ve been able to fund their requirements in as little as 37 minutes. That’s less than an hour’s time from enquiry to money in the bank. 

This means more accessibility to life- and business-changing finance for borrowers, with unprecedented levels of transparency than has ever been on offer. Our technology identifies loans that are most likely to be approved, and all fees are included in the options presented that the customer is already eligible for. They can even track the status of their loan like you track a pizza delivery. 

Finance and loans can be so scary for customers. Some have no idea what an acceptable rate is or what kind of fees and charges are associated. We’re proud to be bridging gaps in financial literacy and accessibility. 

We’ve invested in technology to innovate pain points that have existed in the industry for decades thus making it simpler than ever for customers to have the choice of the right product for them. 

We’ve seen the industry change exponentially in the previous decades, but there is still some way to go. With such innovative technology available, it’s unconscionable to retain legacy systems that keep clients in the dark and stuck financially and keep brokers tied up in processes and unable to do what they do best.

I believe continued investment in such technology and in replacing legacy systems with it will lead to accelerated progress everywhere. Not only will more people have access to the finance they need quickly, but financial services professionals will be freed up to do the work that only a human can do.

I’m so excited to be a part of the future of this industry and the technology that is making our roles so much more fluid and streamlined. 

For those who fear technology, remember that the need for emotional intelligence is still as essential as ever before. The human contact with our clients and partners and our lenders is what the broking industry has always been about. 

This technology is just another tool in our belts to help with speed and efficiency to ensure our customers get the best experience from every transaction.