18 Skyline | Relaunch Edition 1 | Winter 2021
Rameez Zafar
CEO Eligible
Hats off to the market for enduring , and continuing to endure , the most volatile marketplace since the 2008 financial crash . Remarkably , I can see that the same resilience and determination the property market has shown over the last 12 months is being carried forward into 2021 already .
Stating the obvious here , we ’ re living in unprecedented and constantly changing times . The political and economic uncertainty was around before COVID consumed the world in early 2020 , as consumer spending habits changed , and many became cautious about major financial investments .
SURGE
Since then , we ’ ve seen lead volumes drop in most markets . Followed by an overwhelming surge in new enquiries for advisers and lenders , as they tried to keep up when lockdown 1.0 lifted and the stamp duty holiday was announced . However , one thing that hasn ’ t changed is the ongoing resilience of the market , purely down to those at the epicentre , who are dedicated to providing innovative solutions to meet ever-changing consumer needs .
Back in 2020 , the future of work fundamentally changed forever . Companies across every industry around the world changed their ways of working and adapted to ‘ business as usual ’ while working from home . And we ’ re still at home . With new changes came new challenges . Businesses are generally slow to adopt new technologies ( typically 2-3 years ); however , the global pandemic forced the world to turn to technology to think about how we digitise tasks , automate processes and select the tools we use to transition to our now future workplaces .
The mortgage market adapted , we became more open-minded to technology as a support system and understood the value it delivered to process and operations , now more than ever . These changes have surely helped many businesses , including our own , shape product development , offer support and for others , kickstarted a technological transformation .
But enough looking back , let ’ s look forward
It ’ s easy to be pessimistic about what the future may hold with so much uncertainty still in our midst . However , we , as a sector , will continue to face challenges and think on our feet and make decisions quickly in 2021 . But , if 2020 taught us anything ... we ’ re sure as heck ready for it .
Technology will continue to bring people together this year . There is a magnitude of support initiatives on offer to firms within our industry , many piloted since the outset of the pandemic . Club , networks , technology providers and businesses are still coming together to support their customers , prospects , partners and even competitors in 2021 .
The industry will continue to remain dedicated to our customers as our number one priority , through the continued support of technology . The risk to consumers is that they make un-informed and eventually bad decisions because they didn ’ t have someone supporting them through these difficult times . Our job is to help our clients because ultimately , they could lose their home or put it at risk .
2021 is seeing the rebirth of the 21st century adviser , historically heavily reliant on face-to-face interactions . Digital-first and tech savvy , intermediaries and lenders have embraced technology to provide a good alternative to face-to-face client interactions . Which is why technology providers have seen significant growth in the last year , us included .
The benefit of digital isn ’ t just about video calls . Ultimately , it ’ s about saving time with automation and lending a hand with any heavy lifting .
We created Retain to quietly work away in the background to help advisers keep in touch , nurture and educate clients automatically .
At Eligible , we engage your entire client base . We communicate with clients over their entire life cycle and help across other financial products . Always from the perspective of educating a consumer , understanding what they are interested in and notifying an adviser when they are ready to talk .
2021 will be no different for us , we will continue to dedicate our time to servicing our customers and partners , both old and new . My key piece of advice for 2021 is : Don ’ t forget those who saved your bacon , like back in March 2020 . Existing clients are your lifeblood , remember how quickly things can change .
Get in touch to hear more about how Eligible can help your firm in 2021 .
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