Keep safe with Stay in Touch
Proving that you’re working in the best interests of your customer has never been more important.
But on January 1, it won’t just be important, it’ll be legally binding.
As part of The Loan Market Way, there will be a change to policy that requires you to prove that you’re communicating with customers when their Fixed Rate or Interest Only periods have almost expired.
This will take effect on January, 1 2021.
How will you ensure each customer is contacted?
Thanks to our Stay in Touch program, we’re keeping you safe (and saving you time) by automating the process. From today, the below Stay in Touch milestones will be switched on for you in MyCRM:
- Fixed Rate Expiry
- Interest Only Expiry
This means that all your customers will get an email from you, their broker, when their Fixed Rate or Interest Only period is about to expire, not only helping you stay BID-safe, but also keeping you top of mind with customers and providing a 5-star experience.
Nothing! This is now live in MyCRM.
If you already have a process to notify customers at these two milestones, you can opt out of these emails in the Subscriptions Tab in MyCRM. To learn how to opt out, click here.
Heads up, this will form part of the compliance program - so if you opt out you’ll need to be able to show your process when asked by the Risk & Compliance team.
Want to opt out? Watch the video below to learn how.