Did you know that non-core broking activities can be outsourced? This will allow you to focus on the core parts of your business including your clients and growing your business.
Loan processing is the best example of a non-core activity that can be outsourced to save you time. Outsourcing your loan processing can save you hours on each file.
Packages with outsourcing companies can vary from simple data entry, up to assisting with fact finding, servicing and policy checks.
Broker’s who currently utilise loan processing identify these at the top 5 benefits on outsourcing:
Efficiency: Utilising outsourcing enables the broker to not only turn around applications quicker but to write more applications.
Expertise: The processors have vast knowledge and can leverage the knowledge of other processors to ensure the best outcome for your client. They often pick up on lender changes quickly based off feedback from Assessor and relay that for the next applications.
Enhanced Customer Experience: Outsourcing the loan processing allows the broker to spend more time with the clients and ensuring their needs are met. Loan Processing can also help in tracking applications to settlement, keeping your client informed during the process.
Focus on your Business: Brokers who are using outsourcing for loan processing have found that they have been able to grow their business, as they have more time to focus on their core broker activities.
Increase Timeframes & Scalability: Outsourcing allows you to write more loans in a smaller timeframe and get back to your clients quicker with set service levels in place. Outsources also enable you to effectively handle fluctuations in business as they can handle the scaling up or down of your applications, through their network of processors.
Some brokers have raised concerns about the privacy of their clients information, data safety, logistics and their clients relationships.
Our advice is to ask the company! Outsourcing companies who have rigorous data safety, privacy and hiring policies will not be afraid to share this information with you.
There are varying levels of service provided by outsourcing companies, with some providing tailored service to each broker’s needs, while still delivering consistent and timely service overall.
When it comes to deciding if this is right for you, think if you have more leads than you can manage and processing the loans its taking up valuable time that could be spent on converting these into applications. There are hundreds of brokers who have successfully outsourced the processing and administration side of their business and now have increased time to focus on generating and converting leads. This has outweighed the fees involved in outsourcing and enabled them to manage their businesses efficiently and effectively.
iLoad Loans is one such company that can provide you with Australian based Loan Processing. iLoad Loans provides a streamlined service that compliments broker’s businesses and enables them to grow. They offer a range of packages from Submission only to the Gold Package which assists you with fact finding, servicing and policy checks.
The team at iLoad Loans are highly experienced and work closely with you and your team to ensure your client’s applications are progressed and your clients are kept informed. They work closely with you in a ‘team environment’, although being virtual, to deliver to you and your clients a seamless customer experience that will meet or exceed both your expectations.
Book a time today to speak with Alicia the Head of Operations, to discuss how they can assist you with your business: https://calendly.com/i-load-loans-broker/broker-initial-phone-call-with-iloadloans-mb
Visit our website to know more about us: https://iloadloans.com.au/