Twenty7tec has issued a new update to its COMMUNICATE digital marketing platform to help advisers streamline their latest requirements under the FCA’s Consumer Duty.

Rate Watch will notify an adviser, administrator or client if a lender announces a rate reduction, meaning that everyone will have access to real-time updates, and advisers can immediately notify their clients of a reduced rate with the same lender before completion.

Rate Watch journeys can be customised by different filters, such as a lender, business type, product or loan size so that firms can create custom journeys for different lenders. It also features a Product Match engine that will identify and match any Mortgage policies in the system with a Lender Product code before triggering notifications if a reduced rate is available.

Within Rate Watch, advisers can see a confidence score system for any policies without a product match. Brokers can also set up email or WhatSaap notifications for a specific product so that they have immediate access to updates.

The update officially goes live on 9 February 2024 and will be available immediately to existing COMMUNICATE users.

James Tucker, CEO of Twenty7tec, said: “We’re very excited about this update, not only because it will help advisers meet their new requirements from the FCA under Consumer Duty, but also because it will improve the level of service advisers can give to customers when using it. These real-time updates mean that even on the days up to completion, customers can get the best possible deal from their adviser, and the adviser will have this information quickly and easily at their fingertips. We want everyone to have access to the best financial advice, and this is just another update that paves the way for this to happen.”