Stonebridge has launched a customer-facing app for its appointed representative firms as it looks to help advisers maintain contact with borrowers beyond mortgage completion and generate future remortgage, protection and general insurance opportunities.
My Mortgage Partner is available free to Stonebridge members and connects directly with the network’s Revolution adviser software, allowing customers and advisers to use the platform throughout the mortgage process.
The launch follows 12 months of development, with Stonebridge investing hundreds of thousands of pounds in the project and involving more than 100 member firms in focus groups.
Customers can upload documents, communicate with their adviser and follow the progress of their mortgage through the app, which can be accessed by smartphone, tablet or desktop. Each version carries the branding of the individual AR firm.
POST-COMPLETION CONTACT
Stonebridge has also designed the platform to remain in use after a mortgage completes, rather than focusing solely on the application process.
Customers can see details of their mortgage, protection and general insurance policies, while a countdown tracks the remaining period on their current mortgage deal. As the end of the deal approaches, the system generates remortgage alerts intended to prompt contact between the adviser and customer.
The network said the approach was designed to help member firms remain visible between transactions at a time when customer retention and product transfers have become increasingly important to advisers.
My Mortgage Partner also incorporates protection questions into the fact find, with Stonebridge positioning the feature as a way of encouraging protection discussions earlier in the advice process.
The development follows an overhaul of Stonebridge’s protection sourcing system and comes after the FCA’s Pure Protection Market Study final report.
INTEGRATION WITH REVOLUTION
The app was developed using an external digital consultancy alongside Stonebridge’s in-house engineering team. Once a customer registers, information is automatically synchronised with Revolution.
Rob Clifford (pictured), chief executive at Stonebridge, says: “For advisers, customer retention is not just about making contact at the end of a deal. It is about staying consistently visible, useful and relevant throughout the whole customer journey and for years after the initial transaction.
“My Mortgage Partner gives Stonebridge members a branded digital presence in their customers’ pockets, helping them support borrowers during the application, stay front of mind after completion and start future mortgage and protection conversations at exactly the right time.
“We have invested significantly in this because we believe technology should help advisers build stronger, more valuable customer relationships, not replace them – all with the pragmatic and valuable input from many of our member firms.
“This is another major step in our commitment to giving Stonebridge firms the tools they need to thrive and a competitive advantage.”
