ISSUE 03
FIND US ONLINE hlpartnership.co.uk
NOVEMBER 2023
TECHNOLOGY EDITION
IN THIS ISSUE A BALANCE OF TECH AND TOUCH
OUR TECH VISION
The importance of finding that
Driven by the needs of our
right balance between leveraging
members, we share the HLP
the efficiency of technology and
technology vision – where we
maintaining the irreplaceable
want to aim for and the roadmap
human touch.
of how we’re going to get there.
REVIEW OF RELEASES TO DATE
WHAT'S COMING NEXT?
Get the most from our recent
HLP continually strives to improve
technology releases – including
the member experience, join us
innovations such as our commissions
as we share what’s coming next in
system, new dashboard functionality
our pipeline of technology releases.
and training & development hub.
Contents
01
IMPORTANCE OF TECH ADOPTION
A Balance of Tech and Touch
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06
OUR TECHNOLOGY VISION
HLP’s Technology Journey
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Roadmap
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03
WHAT'S BEEN RELEASED
Review of Releases to Date
04
WHAT'S UPCOMING
What's Coming Next?
05
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28
PREVENTING CYBER CRIME
A Rise in Email Compromises
38
Protecting Against Cybercrime
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Introduction I’d like to start by giving you a warm welcome to this special Technology Edition of our HLP Network News Magazine and firstly say how impressed I am at the innovation and dedication shown by our member firms as you all adapt to the new world of Consumer Duty and today’s challenging marketplace. As your Network, we are here to support you with the range of tools and systems to enable you to give the very best service to your clients. We’re a Network built on easy-to-use technology that powers your business and powers your growth – and we are excited to share our vision of what’s instore over the months ahead. You’ll doubtless be familiar with our new Commissions system, introduced last year to an extremely positive reception from members, and we hope has transformed your day-to-day experience. We have recently been excited to launch our latest round of updates to the HLP Adviser Portal – bringing a refreshed appearance that introduces a new Communications & Events hub, as well as easier, more convenient access to the Hub on a range of devices, to reflect how you interact with us in your daily lifestyle. This is just the start of our technology journey, and we’d like to take you on board and show you our vision and where we’ll go next, how we’ll make your HLPartnership experience easier, faster and introducing new tools to help you deliver even greater service to your clients every day. We’re driven by your feedback, so please do continue to let us know what you think, and keep an eye out for the latest updates on what’s new and how it can help your business.
Christopher Tanner Chief Executive Officer
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01
IMPORTANCE OF TECH ADOPTION Today’s client is digital-first, but not digital-only. Find out why advisers need tools that seamlessly merge the digital experience with a personal touch.
IMPORTANCE OF TECH ADOPTION
A Balance of Tech and Touch The mortgage industry is no stranger to change. As the winds of digital transformation blow across sectors, brokers sit at an intriguing juncture. In this ever-evolving landscape, embracing tech isn't just a trend, it's an imperative. Today's borrower, entrenched in a digital
• Efficiency Reinvented:
world, from streaming binges to managing
Leveraging tech, brokers can quickly sift
finances online, expects their mortgage
through paperwork, manage appointments,
journey to be just as streamlined and intuitive.
and handle repetitive tasks, allowing them
Yet beneath this digital veneer lies a robust
to concentrate on what truly matters - client
need for genuine, human mortgage advice.
relationships and providing sound advice.
It's a delicate balancing act: offering the efficiency of technology while maintaining the irreplaceable human touch.
• The Power of Data: With a wealth of data at their fingertips, brokers can garner deep insights, tailoring
Consider the idea of pilotless planes. Sure,
their strategies to individual client profiles
technology is advanced enough to make it
and market trends.
possible, but would the average passenger be entirely at ease boarding one? Likewise, the rise of robo-advisers initially seemed like the next big thing in our industry. However, they soon grappled with a marketplace that, while appreciating efficiency, yearned for humanled assurance. But here's a thought: while the first wave faced challenges, there's nothing to say the next wave, having learned from past missteps, won't find their stride. A crucial takeaway? Technology can be an enabler, but the human element remains at the helm. Where does this leave our members? • Meeting the Digital Expectation: Today's client is digital-first but not digital-only. Brokers need tools that seamlessly merge the digital experience with a personal touch.
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Now, a crucial footnote. At HLPartnership, we're dialled into these industry shifts and the demands of the digital age. We're not just passive observers; we're active participants and influencers. Our pledge is clear: furnish our member firms with top-tier technological tools and insights to ensure their longevity and success. We've already initiated this technological pivot, investing significantly in next-gen solutions. Brokers devoid of this tech advantage might find themselves trailing as larger mortgage firms harnessing tech's full potential lead the charge. It's a transformative period for the industry, and at HLPartnership, we're ensuring our members are at the forefront of this revolution.
It's a delicate balancing act: offering the efficiency of technology while maintaining the irreplaceable human touch.
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OUR TECHNOLOGY VISION Join us for the HLPartnership technology vision, for where we want to aim for, and a roadmap of how we’re going to get there.
HLP’s Technology Journey In our earlier article about the ever-changing landscape of the mortgage sector, we touched on the emerging role of technology. Building on that foundation, HLPartnership is now actively progressing in developing its bespoke technology platform. Far from being a fleeting focus, technology is forming the keystone of our network’s long-term blueprint. A demonstration of this commitment can be seen in our substantial resource investment, notably our initiative to assemble a high-calibre team of developers under the leadership of Chief Technology Officer David Steele, who joined us following his tenure with 360 Dotnet. Our objective remains transparent: the
A pivotal move in our tech journey was the
development of an integrated platform, one
overhaul of the commission payment process.
tailored to meet our members' unique needs.
The result was a system where clarity and
This platform isn't just a response to changing
precision reign supreme, giving our members
times; it's our contribution to setting industry
a clear picture of their earnings and when
benchmarks, ensuring the features and tools
to expect them. The positive reception
on offer align perfectly with the real-world
to this change was immense, reinforcing
challenges our advisers encounter.
our belief in the direction we're headed.
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OUR TECHNOLOGY VISION
But we aren't stopping there. Up to this point,
This is just the beginning. Our vision for the
our primary focus has been on the groundwork
referral system includes adding more features
of data security and migration, which means
and collaborating with partner services to ensure
there have been no tangible releases until very
that advisers always have the option, if they wish,
recently. However, with these robust measures
to refer clients to trusted specialists in various
firmly in place, we are now prepared to introduce
areas of advice if it's deemed best for their client.
a range of advanced features that will significantly enhance the tools available to our advisers. Therefore, over the coming weeks and months, we will be releasing new features on a staggered but fairly regular basis. Throughout this special edition of the tech magazine, we will provide you with additional details regarding what we have already released and our upcoming plans for the near future.
On the horizon, we're preparing to launch the GI referral service, reaffirming our commitment to supporting our members. In the upcoming year, our focus is on collaborations. We are particularly excited about partnering with industry giants like Experian. Such alliances are crucial for embedding open banking features, simplifying ID verification procedures, and providing comprehensive
Here's what members can expect in the
credit reports. Our development team is crafting
near future:
tailored fact-finding processes to cater to distinct
1. Messaging System: • Focuses on secure and confidential communication within the network. • Enhances member interactions and ensures all dialogue is recorded.
client groups, such as later-life customers or limited companies. HLPartnership's technological evolution is a testament to our commitment to constantly innovate and adapt in the mortgage sector. We understand the dynamic needs of our
2. Deal End Dates Integration:
members and the market, ensuring that we
• Helps advisers identify mortgage deal end
remain at the forefront of industry advancement.
dates and when lenders contact clients. • Allows for proactive client engagement, forecasting, data analysis, and enhancing consumer outcomes. 3. Referral System: • Designed for advisers to outsource specific
As we embark on this exciting new phase, our members can trust that we will deliver on our promises, continually enhancing their experience and broadening the horizons of what is possible. We extend our gratitude to every member for their unwavering support, and together, we will shape the future of mortgage technology.
advice services like protection to specialists. • Includes transparent tracking, real-time progress updates, and an intuitive interface for efficient management.
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Roadmap Q4 2023 Adviser Portal New User Interface Messaging System News & Communications Referral System
2024 Sales Process Pre/Post Sales Management Fact Find Integrations Lead Management
2024 Introducer Portal Lead Tracking Management Information
2024 Client Portal Mobile & Desktop Apps Open Banking Communication ID Verification Experian Integration
03 WHAT'S BEEN RELEASED Get the most from our recent technology releases, and how they can work for your business.
No more chasing or second-guessing, just efficient and punctual financial transactions.
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WHAT'S BEEN RELEASED
Review of Releases to Date Over the last 12 months, HLPartnership has released a series of updates to the Adviser Portal. Here’s a summary of the main releases.
Commission System Navigating the intricate world of mortgage
mechanism. By flagging essential actions,
strategy requires not just expertise, but also
it ensures that payments aren't just processed
the right technological toolkit to keep things
but are processed on time. No more chasing
streamlined. Enter HLPartnership's newest
or second-guessing, just efficient and punctual
offering, unveiled in mid-2022: a state-of-the-
financial transactions.
art online commission system designed with the modern adviser in mind.
Ease of use is at the heart of the platform. Its intuitive interface ensures that even
More than just a statement viewer, this
the less tech-savvy advisers can delve into
platform is a comprehensive dashboard
their commission statements and payment
that gives advisers a panoramic view of
histories with minimal fuss. And in the
their financial landscape. Wondering about
dynamic world of mortgage strategy,
upcoming payments or mulling over past
real-time insights like these are worth
transactions? This system offers clarity
their weight in gold.
on both fronts, ensuring advisers are always in the loop about their income trajectories. What sets this system apart in the crowded
The 'suspense account' feature allows advisers to keep tabs on pending payments and allocate funds for upcoming ones.
space of financial tools is its proactive alert
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WHAT'S BEEN RELEASED
These tools provide advisers with a comprehensive look into vital metrics of their business.
Management Dashboards & Reports HLPartnership has introduced a set of cutting-
mortgage applications and corresponding
edge Management Dashboards & Reporting
life or general insurance policies. With
tools. This move comes as a strategic push
these insights, advisers can identify
to empower advisers with enhanced
cross-selling opportunities and boost
insights into their own businesses and
their revenue streams.
drive performance to new heights.
• Adviser Performance:
According to inside sources, these tools
The performance dashboard provides
provide advisers with a comprehensive
a granular look into individual adviser
look into vital metrics of their business.
metrics, which can be a game-changer
Here are some highlights:
for businesses aiming to nurture and
• Submissions Data: With this data at their fingertips, advisers can now gain insights into the number and quality of submissions, allowing them to adjust strategies in real-time and optimise outcomes. • Mortgage to Life Ratio & Mortgage to GI Ratio: These specific metrics help advisers comprehend the correlation between
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develop their advisers. Knowing where each adviser excels, or may need additional support, is crucial for both growth and client satisfaction. • Insurance and GI Data: In today's fast-paced market, understanding insurance and general insurance trends is pivotal. This feature offers advisers a window into this data, helping them stay ahead of market shifts and anticipate client needs.
But why is this so critical? In an era of data-driven decision-making,
can be thin and client expectations high,
these tools are more than just numbers
having real-time, actionable insights can
on a screen. They represent a paradigm
help advisers thrive.
shift in the way advisers understand and manage their businesses.
Moreover, as the industry becomes more regulated and client-centric, advisers need
By providing a holistic view of business
to demonstrate not only their knowledge
metrics, HLPartnership is essentially equipping
but also their adaptability and foresight.
advisers with a powerful telescope, allowing
Tools like the Management Dashboards
them to spot potential challenges and
& Reporting by HLPartnership offer advisers
opportunities long before they become critical.
the arsenal to not just navigate but excel
Furthermore, in the competitive landscape
in these evolving dynamics.
of mortgage and insurance, where margins
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WHAT'S BEEN RELEASED
Advisers can now seamlessly sign up for training sessions, workshops, and face-to-face events. Training, Events & CPD Log Integration HLP has rolled out an innovative upgrade
importance of continued professional
to its portal. Aimed at fortifying the expertise
development, having an automated system
of advisers, the firm has integrated training,
that tracks and logs these hours can prove
events, and a CPD (Continued Professional
to be a significant asset for advisers. This
Development) log directly into the platform.
takes the guesswork out of CPD compliance
The newly introduced features offer a streamlined experience. Advisers can now
and allows advisers to focus on what they do best - advising clients.
seamlessly sign up for training sessions,
Encouraging Proactive Learning
workshops, and face-to-face events. What
By embedding these features within the
stands out, however, is the system’s intuitive
portal, HLPartnership is sending a clear
integration with the CPD log. Upon attending
message about the importance of constant
any HLP learning and development event,
learning and professional growth. This
the system automatically records an adviser's
proactive approach ensures that advisers
attendance, eliminating manual input and
affiliated with HLP are always at the
the potential for oversight.
pinnacle of their knowledge and skills.
But why is this integration important?
Future-Proofing Advisers
One-Stop-Shop for Learning The ease of signing up for workshops and events within the same portal where advisers manage other aspects of their business is invaluable. It not only saves time but ensures that advisers have a single consolidated platform for all their professional needs. Effortless CPD Tracking With regulatory bodies emphasising the
In an industry that’s evolving rapidly, staying updated is not just an asset – it’s a necessity. The integrated training and CPD tools ensure that HLP advisers are always ahead of the curve, equipped with the latest industry knowledge and best practices. Through this update, HLP are making it easier than ever for advisers to maintain and enhance their competencies.
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WHAT'S BEEN RELEASED
Centralised News & Communications Always attuned to the needs of its members,
key message, network news, and event
HLPartnership has taken a pivotal step
notification at the fingertips of its advisers.
forward with the launch of its revamped Adviser Portal. Responding to feedback regarding the challenges of tracking emails and network communications, especially during peak times, the firm has introduced a centralised communications area. This dynamic feature promises to keep every
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The new communications hub is more than just a repository; it is an evolving archive that updates in real-time, ensuring advisers have access to the latest information from HLP's network.
Here’s why this move is garnering attention:
1. Unified Platform
2. Real-Time Archive
With a myriad of emails and
Not only does this hub update in real-
messages flooding inboxes daily,
time, ensuring the latest news is always
the risk of overlooking vital
front and centre, but it also offers
communications is all too real.
an archive. This means advisers can
The unified Communications
delve into historical communications
area addresses this by collating all
at any time, ensuring they are always
network news, events, and essential
in the loop.
communications in one easily accessible spot.
3. Eliminating Missed Opportunities
4. Efficiency and Accessibility
With all events now centralised, advisers
By streamlining communications, HLP
no longer run the risk of missing out on
is optimising efficiency. Advisers can
crucial seminars, webinars, or workshops.
now quickly scan, search, and access the
This feature ensures that they always
information they need without wading
have a finger on the pulse of HLP’s
through an overloaded inbox.
wide range of offerings.
In an industry where staying informed is paramount, the new Communications hub will help our advisers be well-informed and organised.
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Client & Product Views The Improved Client & Product View feature promises to streamline the way advisers access and manage client and product information. The updates include:
1. Intuitive Client Search
2. Comprehensive Client Page
No longer will advisers need to navigate
The revamped client page now
through multiple pages to find client
consolidates client details, links to related
details. The new client search feature,
clients, and directs users to new product
conveniently located in the top
pages. This central hub ensures that
navigation bar, offers direct access
advisers have a holistic view of their
to essential client information. This
client’s profile and associated products
not only saves time but also improves
at a glance.
efficiency, allowing advisers to better serve their clients.
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3. Seamless Product Navigation
4. Enhanced User Experience
Delving deeper into the product offerings
By consolidating client and product views
just got simpler. With the new product
and minimising page transitions, HLP has
popup screens, advisers can effortlessly
significantly elevated the platform's user
browse through their client's products
experience. Advisers can now enjoy
and previous fact-finding data. This
a more intuitive and streamlined
feature reduces the need to hop between
workflow, allowing them to focus on
multiple pages, offering a more fluid and
what truly matters – advising and
cohesive browsing experience.
assisting their clients.
WHAT'S BEEN RELEASED
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04 WHAT'S UPCOMING Find out more about HLP’s comprehensive pipeline of future technology releases.
WHAT'S UPCOMING
What's Coming Next? At HLPartnership, we believe in continuous evolution, always striving to improve the experience for our members. With the future in sight, here's what's next in the pipeline for our technology strategy.
Refining Member Engagement We've been listening. Your feedback on the challenges of email communication has been invaluable. We understand that critical messages can sometimes be missed or even redirected to spam.
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To remedy this, we're taking a two-pronged approach:
1. News & Communication Platform Embedded within the adviser portal, this feature will serve as a hub for essential communications - ranging from compliance updates and product news to member notifications. And, with a comprehensive archive, no information will be lost in the shuffle. Whether it's through text, images, or video, we're enhancing our communication methods to promote better engagement.
2. Messaging System Security is paramount. Our new messaging system will ensure secure, direct interactions within the network while maintaining a meticulous log of all conversations. It's not just about sending messages but ensuring they are seen and acknowledged.
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It's not just about communication; it's about enabling success. Deal End Dates It's not just about communication; it's about enabling success. Our upcoming 'deal end dates' feature in the portal will help to enhance productivity. By pinpointing both deal expiry and lender communication dates, we're setting the stage for proactive client management and maximised retention. Here's how:
Proactivity
Timeliness
Insights
Know when deals end, and
Avoid the pitfalls of pricier
Leverage data patterns
engage clients in advance.
SVRs post fixed-terms.
for resource allocation.
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Regulatory Compliance
Growth
Emphasise positive
Drive business expansion through
consumer outcomes.
quality advice and referrals.
WHAT'S UPCOMING
Referral System HLProtection has been successful. But we've noticed a need for clarity in the referral journey. Enter our new referral system. With transparent tracking, advisers will have a clear view into the client journey with HLProtection and other referral services It's not just about referrals; it's about understanding and managing them.
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WHAT'S UPCOMING
Looking Ahead The journey doesn't end here. We're gearing up for:
Referral Services Launch
Tailored Fact Finds
Further expanding our referral offerings
Custom solutions for distinct client
so you can enhance your business.
segments within later life and buy to let audiences.
Strategic Collaborations
Tech Innovations
Teaming up with industry leaders like
From dedicated client and introducer
Experian to leverage open banking and
portals and apps to a robust integrated
streamline ID verification.
system—our commitment to technology has never been stronger.
Our innovations don't stop here. We're committed to providing consistent updates to better serve our members.
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WHAT'S UPCOMING
Supporting You on our Technology Journey Investing in Personalised Tech Support for HLP Members HLP always put the needs of our members at the core of everything we do. As we roll out the next stage of our technology vision, you can be reliant that your Network is here to provide leading edge, personalised support to help your business transition to the exciting new changes happening in the months and years ahead. As part of our continued investment, we
save time and promote efficiency, with great
are pleased to announce the appointment
emphasis on providing a good user experience.
of our new Tech Support Manager, Sajid Kadri.
However, we know that it’s not always easy
Many longer-time HLP members may
adapting to new technology and managing
be familiar with Sajid, having held senior
change, so this is where HLP will be on hand
technology positions at the Network for
to provide bespoke assistance with any queries
some years, and he will be using his skills
you may have along the journey.
and technological knowhow to provide bespoke assistance to our members in relation to the new technology being rolled out.
As Tech Support Manager, Sajid will be available to share system demonstrations, guidance and help trouble-shoot any challenges that may arise, and is ultimately here to help give the
We’re passionate about giving our members
support that our members deserve as we roll
technology to improve their day-to-day
out our exciting new technology updates
experience, simplifying processes and
in the future.
uniting many functions in a single place to
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We’re passionate about giving our members technology to improve their day-to-day experience
Keep an eye out in our future communications to find out more about how you can book an appointment with Sajid to assist with any Adviser Portal technology queries.
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05 PREVENTING CYBER CRIME We highlight the need for cybersecurity in an era where digital threats are ever-present.
PREVENTING CYBER CRIME
A Rise in Email Compromises: A Warning for HLPartnership Members In today's digital age, it's more crucial than ever for mortgage advice firms to maintain the highest level of security and trust with their clients. Recent reports indicate a growing concern within our community: a noticeable uptick in adviser email compromises. These security breaches have led to scammers sending fraudulent emails, masquerading as trusted advisers, to unsuspecting mortgage clients. Such incidents not only endanger client assets and sensitive information but can also irreparably damage the reputation of your business. With this in mind, it's crucial to understand how you can mitigate these risks.
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Why the Surge? The rise in these cyber-attacks is due to various factors:
1. High-Value Transactions
2. Data Collection
3. Digital Transformation
Mortgage transactions
Advisers handle sensitive
With the shift to online
involve large sums, making
personal data, which
communications and
them an attractive target
scammers can use for
transactions, there are more
for cybercriminals.
identity theft and other
entry points for attackers.
malicious activities.
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Mitigating the Risks Here are some proactive measures that members can employ to ensure the security of their digital communications:
1. Two-Factor
2. Regular
3. Secure
Authentication (2FA)
Password Changes
Email Platforms
Enable 2FA for email
Encourage all staff to
Consider migrating to email
accounts. This provides
change passwords regularly
platforms that offer advanced
an extra layer of security
and avoid using easily
security features such as end-
beyond just a password.
guessable passwords
to-end encryption.
Even if scammers get hold
or repeating passwords
of your password, they
across multiple platforms.
won't be able to access the account without the second verification method.
4. Employee Training
5. Regular Backups
6. Client Awareness
Periodically train your
Always have a backup of your
Inform your clients about
staff on the importance
important emails and data.
the possibility of scam emails.
of cybersecurity. Make them
In case of any compromise,
Ask them to always double-
aware of the common
you can restore from a
check with you via phone
phishing tactics scammers
previous backup without
or another communication
use and how to recognize
losing valuable information.
method if they receive any
suspicious emails.
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unusual requests.
PREVENTING CYBER CRIME
7. Regular
8. Use SSL
9. Cybersecurity
System Updates
Certificates
Experts
Ensure that all software,
If you communicate with
If possible, engage with
especially your email client
clients through a portal or
cybersecurity firms to
and security software, is
website, ensure it's secured
regularly audit and assess
updated regularly. Many
with an SSL certificate,
the security measures
updates include patches
which encrypts data transfer
of your digital infrastructure.
for known vulnerabilities.
between the user's browser and the website.
In Conclusion The digital landscape is evolving, and while it offers unparalleled convenience and efficiency, it also brings new challenges. Together, by taking the right precautions and staying informed, we can combat the threat of cyber-attacks and continue to uphold the standards of excellence that define our community.
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PREVENTING CYBER CRIME
Protecting Against Cybercrime Running a mortgage & protection advice firm in 2023 covers many areas. It's not just about providing great mortgage advice or protecting customers. Cybercrime has become a pressing concern. Every online interaction, database, and client detail is at risk. Today's adviser must prioritise not only their clients' financial well-being but also the protection of their sensitive data. This article delves into the crucial need for cybersecurity in an era where digital threats are ever-present.
Document sharing Here are some proactive measures that members can employ to ensure the security of their digital communications:
Use shared drives / SharePoint where possible
Use encryption / passwords when dealing with sensitive documents
Avoid printing unless absolutely necessary
Stay Safe As Your Firm Grows Your business will change over time, as the firm grows, as new people join and as technology advances, the requirement for protecting against cybercrime will grow ever more important. One great resource designed to help you is the National Cyber Security Centre, who’ve put together a wide range of support on their website to help you consider all these issues and more, as your firm grows. Find practical advice and resources on what you can do, the steps you can take, and vital guidance on what to think about should the worst happen. Visit: www.ncsc.gov.uk
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Common features of phishing emails
Too good to be true
Sense of urgency
Hyperlinks
Lucrative offers and eye-
A favourite tactic amongst
Hovering over a link shows
catching or attention-
cybercriminals is to ask
you the actual URL where
grabbing statements are
you to act fast because the
you will be directed upon
designed to attract people's
super deals are only for
clicking on it.
attention immediately
a limited time.
Attachments
Unusual sender
If you see an attachment in an email
Check the spelling of the sender's email
you weren't expecting or that doesn't
address e.g. xxx@hlpartnership.co.uk
make sense, don't open it!
compared to xxx@hlparntership.co.uk
To
Were you copied in on an email sent to
Did you receive an email that was also
one or more people, but don't personally
sent to an unusual mix of people? For
know the other people it was sent to?
instance, it might be sent to a random group of people at the organisation whose last names start with the same letter, or a whole list of unrelated addresses