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Enhanced mortgage service platform beefs up Consumer Duty compliance

End-to-end mortgage service Smartr365 has beefed up its platform to improve the experience of brokers sourcing protection packages for clients.

These developments to support the broader, sharpened focus on Consumer Duty outcomes across financial services ushered in by the Financial Conduct Authority in July.

Advisers can utilise the Smartr365 platform to capture client demands and needs intuitively; add multiple benefits per case, syncing them directly with Solution Builder; choose a streamlined protection focused Fact Find view; move seamlessly between documenting client needs and sourcing protection quotes; enhanced integration with Solution Builder, capturing and syncing multiple protection products and quotes; and add more than one benefit within a policy using a new Multi-Benefits feature.


Thora Kehoe, the platform’s chief product officer, says: “The ongoing cost-of-living crisis has left many in a compromised financial situation, highlighting the importance of having comprehensive protection packages in place. 

“The value of UK residential mortgages in arrears jumped to a seven-year high in Q2, according to Bank of England data, and elsewhere individuals continue to borrow growing amounts in consumer credit (up from £1.3 billion to £1.6 billion from July to August alone).

“Although protection is often one of the first expenses to be cut in challenging times such as this, it really can be a lifeline when in a difficult financial situation, particularly with an asset as significant and valuable as a property.

“We designed and built these latest features in order to help brokers to introduce higher standards of consumer protection. Consumer protection is of the upmost importance, and all the tools we build are designed with this in mind. We are passionate about digitising the mortgage market more widely, and today’s changes are also testament to this commitment – we are confident that they will help to develop a user-friendly experience in what can be a very complex area.”


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