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SOURCING SYSTEMS OF THE FUTURE

Rob Jupp

‘Sourcing system’ seems to be the phrase of the moment in the specialist lending world. Within days of Brightstar launching its ground breaking EasySource system, a number of other imitation systems were announced.

EasySource was two years in the making, after research amongst the intermediaries that use Brightstar revealed the extent of the difficulties in searching the market and comparing different product types. So we used this information to develop a system to revolutionise the way that brokers search for specialist mortgages and other specialist finance such as bridging loans and commercial finance. With the launch of EasySource on the 1 st June it is now both possible – and easy – to search across different product types for the very first time, comparing rates, charges and suitability. This opens up a whole world of options that were not previously possible.

The world is moving quickly however, as evidenced by the other, more simplistic, pop up sourcing systems. But just being able to search for products is no longer enough. The FCA’s MMR Thematic review highlighted concerns over sourcing systems, with concern about whether they show up the right information for a particular client’s needs, so sourcing systems of the future need to take this into account.

Intermediaries, need evidence of research when advising a client ie.: what products they have looked for, what the search criteria was, what the results were and vitally, why they recommended that the client take the product that they did. If they use a specialist packager such as Brightstar they also need to be able to justify this. Therefore it is vital that an intermediary has a complete audit trail of what they looked for, what they ultimately recommended to the client and why.

Where EasySource is ground breaking is that it also includes an intelligent case management system. This records every key stroke, providing a full audit trail; even telephone calls will be attached to the client file. This will provide absolute clarity to both the intermediary and to the FCA, should they wish to see it, of why a recommendation has been made and what evidence this was based on.

Additionally, for the benefit of the intermediary and their client, Brightstar’s EasySource provides real time case tracking, intuitive tracking alerts as well as case milestones. It also includes a messaging facility so the intermediary can get in touch with the Brightstar helpdesk. This ensures that the intermediary and their client can see exactly what is happening with their application at any given time.

EasySource is a system of the future: responsive and a hundred per cent based on the needs of the intermediary. Of course the world of specialist mortgages will continue to evolve, but at the moment the future is a mixture of cutting edge technology, combined with the personal touch of experts who deal with different specialist mortgages every day.