Matrix and CML launch mortgage tool for lenders
Matrix Solutions has forged a relationship with the Council of Mortgage Lenders to create a service that tracks the activity of home loan sales.
The new application, Mortgage-Clarity, will take data from CML to show lenders details of IFAs who are promoting their home loans to clients and how sales compare with competitors.
Every time a user runs a query the Mortgage-Clarity tool is updated automatically with the latest monthly figures so lenders can tailor their approach to meet the demands of mortgage IFAs.
Ian Beaumont, chief executive of Matrix Solutions, said: "Mortgage-Clarity will allow lenders to see which IFAs are selling their products and target their support accordingly.
"If they can see that an IFA is not selling their home loans the way they used to, then it will give the lender a chance to contact the IFA and offer greater support and training. It is also about helping them to understand, which IFAs are best placed to sell their products based on their profiles, as well as if they are now just selling less.
"Our use of online dashboards, advanced analytics applications, additional proprietary intelligence, combined with our proven history of successful data integration projects, means that CML members can create and deliver analysis and reports that are both insightful and accessible to audiences, at all levels within their organisation.
"By using Mortgage-Clarity in this way UK mortgage lenders will at last be able to unlock the enormous potential of this valuable data and actually use this information to address their most pressing commercial objectives."
A spokesman for the CML said: "Matrix has launched Mortgage-Clarity in partnership with the CML, allowing members to get more from the regulated mortgage survey data they provide us.
"The range of services offered by Matrix caters for members of all sizes, budgets and information requirements and allows members to drill down into much greater detail in the surveys, allowing users to compare their business and that of the industry."
Raj Shah, principal of South Yorkshire-based Blue Wealth, said the tool maybe helpful in improving lenders' home loan offerings for IFAs.
He added: "This can only be beneficial as it will allow lenders to see which products are being recommended and why.
"Surely this will allow lenders to remove obsolete products, reduce costs and hopefully pass the savings on to borrowers. However this may be wishful thinking though."