While the benefits of the new automated data collection tool for brokers were identified in pilot - less back-and-forth on information and faster time to lodgement - analysis of almost 5,500 SmartData users has revealed increased engagement in the fact find process from customers.
Jason Furnell, Group Executive, Customer Experience at LMG, said SmartData was encouraging customers to spend more time on their responses to the OFF because they were spending less time sourcing documents.
“Data shows SmartData’s collection process is less than nine minutes,” he said.
“Automating part of the process is a game changer for brokers and their clients.
“We knew brokers would cut days from their lodgement times through eliminating the back and forth with clients. Now we’re seeing customers are better engaged in SmartData as well.
“Customers are happy to spend more time providing better responses in the Online Fact Find because SmartData has reduced the drudgery of document collection for them.
“It’s CX-friendly and better engages the customer from the outset, delivering on our promises to make LMG faster and simpler to do business with and, in turn, supporting our brokers in growing their businesses.”
SmartData’s capabilities allow it to:
- Pre-populate identification data including Driver Licence, Passport and Medicare;
- Connect bank account details via illion BankStatements’ secure, encrypted portal to capture and analyse finances;
- Populate and group expenses to speed-up analysis.
Shay-Leigh Chalmers from Bush to Bay Finance has just shifted to LMG and has been ‘blown away’ by the aggregator tech offering and how user-friendly MyCRM and other tools were.
“I’ve now used Smart Data in real time on all my deals to date at LMG and it’s proven to be a game-changer,” she said.
“From the client’s perspective, virtually integrating bank statements, their ID check and ordering a credit file makes it much easier when completing their Fact Find.
“From a broker's perspective, not having to manually order an Equifax is one less thing on my checklist.
“Happy client equals happy broker! It’s making their experience better and also mine.”
LMG
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Aug 15
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1 min read
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