Twenty7tec and Saffron Building Society have examined the growing use of real-time market intelligence in mortgage lending as adviser demand continues to shift.
The latest episode of Twenty7tec’s ELEVATE podcast considers how lenders can use current market data to understand adviser behaviour, identify changing customer needs and make product decisions.
Hosted by Ellisha Jade (main picture, left), the episode features Nick Wakeham (main picture, right), head of data sales at Twenty7tec, and Kim Lugtenaar (main picture, middle), product innovation manager at Saffron Building Society.
The discussion follows the publication of Twenty7tec’s latest Mortgage Market Snapshot, which recorded 1.77 million mortgage searches in June — an increase of 7% month on month.
Residential purchase searches rose by 8%, while searches by first-time buyers increased by 9%.
“Decisions based on historic data simply aren’t enough anymore.”
Wakeham said: “The pace of change across the mortgage market means decisions based on historic data simply aren’t enough anymore. Whether it’s changing affordability, customer behaviour or wider economic events, lenders need confidence that they’re responding to what’s happening today, not what happened several weeks ago.
“That’s where real-time market intelligence becomes incredibly valuable.”
Twenty7tec also plans to publish a customer case study examining Saffron Building Society’s use of its INSIGHT Pro platform for product development and strategic decision-making.
REAL-TIME DATA
According to the case study, Saffron has moved away from using several disconnected data sources and assumptions. It instead uses real-time adviser search data to assess opportunities, identify emerging trends and prepare evidence-based business cases.
The analysis, which previously took days, can now be completed within hours, allowing the society to respond more quickly to market changes.
Lugtenaar said: “One of the biggest changes for us has been moving from saying, ‘We think this is happening,’ to being able to say, ‘We know this is happening.’ Having reliable, real-time market intelligence gives us far greater confidence when prioritising opportunities and building business cases.”
The episode, From “I Think” to “I Know”: How Data Is Transforming Mortgage Lending, is available on YouTube and Spotify. Watch HERE.
