How Hound revolutionises mortgage services with open banking integration

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Heard about Hound but not exactly sure of who we are or the benefits our platform can deliver? Here we explain exactly what Hound is, how the platform benefits brokers and clients, and the role open banking plays in transforming the landscape.

Firstly, platforms like Hound couldn’t exist without open banking, a relatively new technology in Australia that brings transparency for consumers and mortgage brokers alike. For consumers, it democratises data ownership. By opting in to share their information, clients can seamlessly and securely share their financial data with service providers, enabling access to offers tailored to individual needs. This empowers consumers with choice, competitive rates and faster services. 

For brokers, open banking brings real-time access to clients’ financial data, allowing them to obtain a comprehensive financial picture. Not only does this facilitate accurate loan recommendations, it significantly reduces the legwork of gathering documents and speeds up the application process. Open banking allows brokers to stay updated with clients’ financial statuses, creating the opportunity for proactive servicing and strengthening of client relationships. 

As open banking gained traction, it presented an opportunity for brokers to engage with their clients in a seamless, proactive manner. This is where Hound steps in, serving as a platform that fuels broker expansion and financial stability through enhanced customer retention strategies.

Here are the top 5 ways that Hound can help you to keep your clients longer, your book growing and your profit increasing:

1. Comprehensive back book management

At the heart of Hound is its back book management system, a powerful tool that not only streamlines the management of current business but also provides a platform to grow and nurture the customer base. With this system in place, brokers can cultivate lasting client relationships while also laying the groundwork for sustainable business expansion.

2. Data-driven decisions

The essence of any smart technology lies in the quality of data it works with. Hound brings all of a broker’s customer data together in one place using its proprietary capabilities to ensure the data is correct, complete, and up-to-date. 

3. Proactive client servicing

Hound isn’t just about management; it’s about being proactive. With its cutting-edge technology, Hound continuously sifts through the data, identifying those customers with unmet servicing needs. This foresight allows brokers to be proactive, sending timely and relevant messages to clients, ensuring they’re always in the loop and well-serviced.

4. Streamlined compliance and reporting

Hound completes tedious tasks like generating annual review reports, preparing meeting agendas, and even drafting covering emails for clients. Not only does this save time, but it also ensures compliance by maintaining records, providing brokers peace of mind and allowing them to focus on what they do best.

5. Building for the future

Every broker dreams of the day they’ll sell their business at a premium. Hound plays an instrumental role in making this dream a reality. By creating a comprehensive track record of your business performance and offering key analytics for your portfolio, Hound ensures that when the time comes to sell, your business valuation stands at its peak.

For brokers, Hound is the gift that keeps on giving with automatically updated loan data, sharper insights into unmet servicing needs, and the hassle-free generation of annual review reports. This not only leads to productivity and efficiency gains but also allows staff to be redeployed to tasks that add more value.

For customers, the benefits are equally enticing. Hound ensures they receive timely and appropriate services, making their financial journey smooth and worry-free.

Hound is not just another platform; it’s a holistic solution for mortgage brokers aiming for growth, efficiency, and unparalleled customer service. Learn how Hound can help you – contact us today.

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