UK cloud-based mortgage and financial savings software program supplier, finova, has launched a brand new retention portal, to streamline the mortgage swap journey for current prospects who’re approaching the tip of their fixed-term deal and at the moment are contemplating a product swap

Powered by the finova SaaS banking originations platform Apprivo, the newly improved retention portal is designed to streamline the mortgage swap journey for current prospects who’re approaching the tip of their fixed-term deal and at the moment are contemplating a product swap.

Round 1.6 million offers are resulting from finish in 2024, highlighting the necessity for lenders to spend money on sooner retention methods, in keeping with knowledge from UK Finance, the commerce affiliation for the UK banking and monetary providers sector.

The retention portal works on all digital units and permits prospects to evaluate their choices and conveniently select probably the most appropriate product for his or her wants. It additionally provides prospects the power to self-select a handy date to modify merchandise and pay any excellent charges when relevant. As well as, the retention portal provides safe entry, a number of layers of information encryption, multi-factor authentication, and common safety audits to create a completely complete and safe answer.

The portal can be absolutely brandable, enabling lenders to customize the portal to match their styling and model identification. Constructing on this, it’s absolutely configurable to fulfill the particular wants of lenders and their buyer journeys, and could be built-in alongside any current servicing answer.

Serving to lenders higher serve their prospects

Chris Little, chief income officer at finova, explains: “Because the UK’s main supplier of mortgage and financial savings software program, the finova group is continually exploring new avenues to refine and streamline our customer support. The launch of our new retention portal solidifies our ongoing dedication to serving to lenders higher serve their prospects and meet their evolving wants.

“As a part of our ongoing strategic route, we have now invested in a brand new person expertise group, which is charged with making certain that our prospects can actually get probably the most from our product providing. With a number of new updates within the pipeline, we’ll maintain working alongside lenders to make sure prospects who wish to swap can achieve this with ease and pace.”

finova designed the retention portal with regulatory necessities in thoughts and is constructed to Stage AA of the Internet Content material Accessibility Tips (WCAG AA), making it accessible for all customers. It additionally contains ‘constructive friction factors’ to assist lenders in complying with the Client Obligation. Consequently, shoppers are inspired to collect as a lot data on a potential mortgage swap as attainable, resulting in extra measured and knowledgeable decision-making.

The launch of the retention portal builds on finova’s current lender options’ goal to enhance the general buyer and borrower expertise, together with its self-serve buyer portal for mortgages and financial savings, and its cell app providing.