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A new tool to help brokers gather borrower documents is gaining momentum as brokers gain back valuable time.
Mystro launched four months ago and now has more than 200 brokers signed up and using the platform.
Brokers can have their customers sign up to the app, which automatically sends them a fact find. Once this has been completed the information is sent back to the broker who now has all the basic information they need.
The broker can then create a customised document checklist and send this off to the customer to upload documents, take photos and keep the broker updated with progress.
One broker who has been using the platform since its inception said she would not have been able to grow her business at the same rate without it.
Angela Hersey, in Port Lincoln, has difficulty entering in data due to a chronic pain condition in her arms.
She said that not only is she able to save time and pain by having the information automatically uploaded, she is able to better assess her customer’s needs before they come in to see her.
Hersey said, “When the clients come in I’m prepositioned with what they need. It gives me time to start doing a bit of the prep-work before they get here. It comes across super professional.
“Obviously I verify everything to make sure the figures are correct. But the main details like name and address and all those sorts of things are already filled in. it takes out a lot of work and is really a productive app.
“I have only just started doing mortgage broking in the last 12 months. I opened a new office Port Lincoln in May, I was only able to do a couple of appointments a week and that’s quadrupled now. This app has been able to give me that time back that I have spent doing data entry.”
CEO and founder of Mystro, Dmitry Chourpo, said despite being new to the mortgage industry he immediately recognised a need for the product.
He said, “There’s a strong need for brokers to have a system that helps grow their business. Fact find is a big problem for brokers to collect carefully. We decided to revolutionise the market, putting everything upside down. This is what we’ve created.
“The industry itself needs transformation. Old processes that brokers are going through now, those processes existed 20 years ago, it needs to change, people need to adopt technology they have to embrace technology and use it to its full potential.
“Technology can simplify their life. Their job is not to collect data or documents. Their job is to talk to customers and understand their needs and help them succeed.”
