FEATURES • SPONSORED CONTENT
I
Pepper Money Technology Streamlining Solutions
ncreasingly, leading non-banks like Pepper Money are building systems designed on the basic understanding, that technology is ever-evolving and that tomorrow, what was the norm today, may need replacement or an upgrade. They are flexible, nimble, more able to adapt quickly and launch new solutions to meet the rapidly evolving needs of clients, and advisers. National Sales Manager, Michelle Sargeant says Pepper Money is committed to creating platforms that are designed with financial advisers and their client’s needs in mind. “We want to create an experience that is as effortless and frictionless as possible and are determined to minimise the administrative work involved in complying with industry regulations. We want financial advisers to focus on what they do best - finding financial solutions for families, and in the case of Pepper Money’s alternative lending products, offering mortgages to Kiwis who don’t fit the criteria of the main lenders.” With the changing lending landscape and economic impacts of the global pandemic, Ms Sargeant says chances are many clients that have never needed to consider an alternative lender in the past are now finding themselves needing a specialist solution. “More and more borrowers need a little bit of personal
014
TMM 04 • 2021
attention to fully understand their situation. Non-banks like Pepper Money provide that,” says Ms Sargeant. Making life easier for advisers is an important part of what sets Pepper Money apart. Ms Sargeant adds: “So we developed the Pepper Product Selector (PPS) – an innovative online tool, that lets brokers assess borrowing capacity and see indicative home loan rates quickly and easily. In less than five minutes the tool can locate the right Pepper product, by simply answering a few quick questions about the client.” The Pepper Money Product Selector can assist in removing some common roadblocks and provides the financial adviser and their customer with more certainty. Within five minutes, the tool does a comprehensive credit check, borrowing power calculation, and puts all the information through an algorithm decision engine to identify a Pepper Money home loan product, interest rate, and fees. This solution also comes in the form of an indicative offer which can be submitted with the application, shared with the client, and used as the adviser’s record of the customer’s requirements. The Pepper Product Selector allows financial advisers to demonstrate their value as a trusted source for their customers. Not only can they give their customers the confidence of the
rate available to them along with the maximum LVR, fees, and loan amount on offer against the security, but they can have deeper conversations with their clients about their goals. According to Ms Sargeant, conversations like what they are looking to achieve, if they are thinking of growing their family, what the next 5 plus years look like - so that they can ensure the solution they put forward supports the customer into future, and they are catered for on all parts of that journey. “Financial advisers have found that this holistic approach and having the loan information upfront has assisted clients in feeling more comfortable with the transparency and certainty provided in the process.”
How can financial advisers help their clients with Pepper Product Selector? “At Pepper Money, we believe that clients should never be in a position where they do not understand their financing options, regardless of their circumstances. That is why the Product Selector was created - to help financial advisers source the best-fit Pepper Money home loan solution for their clients, the first time,” says Ms Sargeant. s Sargeant explains the three key steps to providing a home loan option through Pepper Product Selector:
