Knowledge Bank has launched Insights on KB PRO, giving lenders access to market intelligence generated from over one million criteria searches carried out annually by mortgage brokers.
The insight data updates every 24 hours, meaning lenders are always up to date on the latest trends, whilst able to asses patterns across three years.
The data provides lenders with a detailed view of intermediary demand, helping them understand how their criteria perform, where they sit within the market and how effectively their proposition meets the needs of today’s borrowers.
Knowledge Bank’s user base includes directly authorised brokers, appointed representatives from across the market and the helpdesks of some of the UK’s largest mortgage clubs and networks.
Lenders can use the intelligence to identify changes in broker demand, uncover potential gaps in their proposition and make more informed criteria and product decisions. The platform helps lenders see where opportunities may be missed and where targeted policy changes could enable them to support more brokers and borrowers.
By widening access, lenders can bring together their product, proposition, sales, marketing and intermediary support teams around the same market intelligence. This gives them a clearer picture of broker demand and enables criteria changes to be communicated and evaluated more effectively.
The mortgage market remains a complex landscape. Although rates continue to play an important role, the battle for mortgage business is increasingly fought on criteria, exceptions and a lender’s ability to accommodate the individual circumstances of a borrower.
Shane Chawatama, sales director at Knowledge Bank, said: “Lenders have access to enormous amounts of information about the applications they receive, but that only tells part of the story. It does not show them the cases they never saw because their criteria excluded them from a broker’s search.
“Insights on KB PRO changes that. By drawing on over a million annual searches from brokers across the market, we can give lenders a much clearer view of genuine intermediary demand and how their criteria are performing against it.
“This is not data based on assumptions or a limited snapshot. It reflects the searches being carried out every day by individual directly authorised brokers, appointed representatives and the helpdesks of some of the biggest clubs and networks in the market.
“Combined with Notify, this gives lenders an incredibly powerful way to identify opportunities, make effective criteria and product changes, communicate them to brokers and then better understand their impact.
“In a market where the difference between placing and losing a case is so often found within the detail of a lender’s criteria, this level of intelligence can provide a genuine competitive advantage.”
