Jon Hall

Over 90% of brokers believe specialist lending shouldn't be threatened by tech

Some 91% of intermediaries believe that the specialist lending market should not feel threatened by technology, according to the latest research.

In Masthaven’s latest Broker Beat study, intermediaries claimed that a move to automation would not replace the fundamental importance of personalisation.

Jon Hall, managing director at Masthaven (pictured above), stated that despite some unease across the market in recent years about the increasing prominence of technology and its potential to disrupt — or even replace a broker’s role — its most recent report revealed that the specialist lending market could be sure that the underwriting process would always need a human touch.

He further explained that recognising the power of technology was fundamental in keeping up with wider industry trends, but the prime importance of manual underwriting — of which human intelligence and feeling is vital — couldn’t be replaced.

“We use tech to aid us in speeding up applications and making processes smarter, but real people are what makes the market tick.

“Empathising with customers through personalised solutions is something that should be at the forefront of lenders’ minds.”

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