The Intermediary – September 2025 - Flipbook - Page 93
T E C H N O L O GY
Opinion
The benefits
of embracing
change
W
e talk a lot
about how
valuable more
granular
data is, and
about how
technology can give us insights from
that data that allow us to maximise
efficiency and deliver beer property
risk management.
Most of us understand this concept
but it’s harder to picture the detail and
the power it could have. In the world
of mortgage valuations, this is largely
because we’re very much at the start of
the journey.
By managing
instructions through one
hub, multiple possibilities
suddenly become real”
For some lenders, the old adage
‘if it ain’t broke, don’t fix it’ holds
serious weight. On the one hand,
conceptually they may be able to see
that things could be done beer, and
more achieved, using more modern
technology and data capture. On
the other, the inherent risk that the
applecart is upset in the process of
changing systems and procedures
deters action.
Until very recently, accessing
beer data capture by adopting
new technology has oen meant
the prospect of difficult or costly
integrations, patching legacy
platforms and the dangers associated
with transferring highly sensitive
customer data.
But capturing new data in the
pursuit of beer property risk
management is now a regulatory
MARK BLACKWELL
is COO at Cotality
must-do. The decision to improve and
benefit from the scale of efficiencies
that modern valuations technology
can bring is not ‘either/or’ anymore.
It is also far less difficult than
it once was.
At Cotality we are delivering this
now. We’re connecting lenders, panel
managers and surveyors through
our Lender Hub without the need to
integrate platforms. The result is a
faster, more accurate data exchange
that delivers faster offers. We are
not stopping there. Conveyancing is
already on our roadmap.
In practice
What this means is capturing more
data, more consistently and –
critically – having that data readily
and easily available for lenders to use
it to maximise their margins. Quicker
beer decisions mean a beer broker
experience as valuations moves up the
process to the Decision in Principle
(DIP) or Full Mortgage Application
– saving days – which positively
impacts lenders’ margins and brokers’
cashflow.
Lest we forget, the borrower
also has greater visibility of the
transaction too. Transparency is a
core requirement of the Financial
Conduct Authority’s (FCA) Consumer
Duty, requiring firms to communicate
clearly, fairly, and in a way that
borrowers can understand allowing
customers to make informed
decisions.
By managing instructions through
one hub, multiple possibilities
suddenly become real. Multiple user
access to the system allows all parties
– broker, surveyor, underwriter and
ultimately the lender and customer
– visibility of progress. A single view
that also meets the need to cut down
on multiple integrations that bring
their own risks for lenders.
Post valuation queries – the bane
of so many in this industry – can be
captured. What the query is, who
made it, what the response is, whether
the response has been given in a timely
manner is all at your fingertips.
This information allows lenders to
improve the process, cut the time it
takes to close out the valuations aspect
of the mortgage application, minimise
the administrative burden on all
parties and deliver a slicker service to
advisers and their clients.
Under Consumer Duty rules, having
a clear picture of the interaction with
a retail customer allows lenders to
assess potential pinch points and flag
vulnerability risk early. It allows
lenders to have a robust process to
handle consumers and excel at it.
Managing third party providers
becomes simple and effective
almost overnight.
Technology advances tend to come
in spurts, with transformative change
sometimes crammed into a brief
period before the market takes time
to adapt. This is where we are at the
moment in valuations management.
Clear, measurable insight into
process efficiency is suddenly
achievable. The process is transparent,
trackable and, consequently, easily
improvable. Customer service,
administrative burdens placed on
intermediaries having to deal with
frustrated borrowers – managed.
The market can work beer for
lenders, valuers, brokers and their
end borrowers and there are already
early adopters seeing the benefits.
Those that are embracing this notion
are making tremendous inroads into
old ways of doing things and gaining a
huge advantage as they do so. ●
September 2025 | The Intermediary
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