Zeitgeist
hallenger banks unveil a new era for underwriters Digital processes and hybrid working are here to stay. While full-time underwriters at introducers' offices haven’t quite made a pre-pandemic comeback, challenger banks are flipping the script. They're bringing underwriters into the spotlight, offering more interactive, customerfocused approaches to fuel growth and build stronger connections Words by
PIOTR TWAITS Managing director at Synergy Commercial Finance
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Hybrid versus hands-on
hile automation and digital connectivity are increasing, challenger banks are carving out a niche with the personal touch. These institutions, unburdened by legacy systems and bureaucracy, are not only winning market share but also setting new benchmarks in customer service and operational efficiency. Their approach is rooted in a return to fundamentals: building relationships, understanding unique needs and delivering personalised solutions. Embedding underwriters on-site with finance packagers is a case in point. While close collaboration has always been essential, it was significantly disrupted by the pandemic. And, as we move forward, its revival—or adaptation—provides valuable insights into the future of commercial finance.
Bridging & Commercial
While having underwriters on-site with finance packagers was not widespread even before Covid, the shift towards digital collaboration tools and remote communication since the pandemic has further reduced the necessity for physical co-location. The industry quickly adapted to hybrid working, leveraging technology such as Microsoft Teams and Zoom. However, the extent to which each broker benefits from this will largely depend on the strength of their relationships with lending partners. Not all brokers will gain to the same degree, and many may find belonging to a network significantly rewarding. Today, while some of the larger lenders and brokers are encouraging a return to the office—through perks and team-building activities, for example—the practice of embedding full-time underwriters at introducers' sites has not rebounded to pre-pandemic levels.
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