UK cloud-based mortgage and financial savings software program supplier, finova, has launched a brand new retention portal, to streamline the mortgage change journey for current clients who’re approaching the top of their fixed-term deal and at the moment are contemplating a product change

Powered by the finova SaaS banking originations platform Apprivo, the newly improved retention portal is designed to streamline the mortgage change journey for current clients who’re approaching the top of their fixed-term deal and at the moment are contemplating a product change.

Round 1.6 million offers are attributable to finish in 2024, highlighting the necessity for lenders to put money into sooner retention methods, in line with information from UK Finance, the commerce affiliation for the UK banking and monetary companies sector.

The retention portal works on all digital units and permits clients to overview their choices and conveniently select essentially the most appropriate product for his or her wants. It additionally gives clients the flexibility to self-select a handy date to change merchandise and pay any excellent charges when relevant. As well as, the retention portal gives safe entry, a number of layers of information encryption, multi-factor authentication, and common safety audits to create a totally complete and safe resolution.

The portal can also be totally brandable, enabling lenders to customize the portal to match their styling and model identification. Constructing on this, it’s totally configurable to satisfy the precise wants of lenders and their buyer journeys, and might be built-in alongside any current servicing resolution.

Serving to lenders higher serve their clients

Chris Little, chief income officer at finova, explains: “Because the UK’s main supplier of mortgage and financial savings software program, the finova workforce is consistently exploring new avenues to refine and streamline our customer support. The launch of our new retention portal solidifies our ongoing dedication to serving to lenders higher serve their clients and meet their evolving wants.

“As a part of our ongoing strategic path, we now have invested in a brand new person expertise workforce, which is charged with making certain that our clients can actually get essentially the most from our product providing. With a number of new updates within the pipeline, we’ll maintain working alongside lenders to make sure clients who wish to change can achieve this with ease and pace.”

finova designed the retention portal with regulatory necessities in thoughts and is constructed to Stage AA of the Net Content material Accessibility Pointers (WCAG AA), making it accessible for all customers. It additionally consists of ‘constructive friction factors’ to assist lenders in complying with the Client Obligation. In consequence, customers are inspired to collect as a lot data on a potential mortgage change as attainable, resulting in extra measured and knowledgeable decision-making.

The launch of the retention portal builds on finova’s current lender options’ purpose to enhance the general buyer and borrower expertise, together with its self-serve buyer portal for mortgages and financial savings, and its cell app providing.