Research Services

Annual Benchmark Study on Lender Intermediary Technology

What is the Benchmark study?

For the past five years Frank Eve Consulting Limited has conducted research into how Lenders use Internet technology to interact with intermediaries. The findings of the study have established best practice in the industry.

The primary objective of the study is to assist lenders in setting their overall website strategy by benchmarking them against current best practice. This research would help in prioritising information technology (IT) spend for new web site functionality and enhancements.

The benefits to Lenders taking part include information to:

• improve operational efficiency and increase site usage
• raise pull-through (conversion) rates of submitted acceptance in principles (AIP) and loan applications
• improve competitive position and market share

The Benefits to Software Vendors include information to:

• assist in the development, enhancement, sale and support of systems used by lenders in originating loans

Study Methodology

The Study benchmarks intermediary lender web sites and provides an assessment of Best Practice in intermediary distribution technology. The lenders involved complete an extensive written questionnaire. The methodology was amended for the 2006 Study to make the process more analytical. Web site functionality was broken down into the primary areas of intermediary business transaction capability and the questions were designed to identify individual features within these areas. Marks were awarded to sites that had the most features and functionality.

The 2006 Study

The 2006 survey had participation from 31 mortgage lenders which include a mix of high street banks, building societies and specialist lenders. This makes the Study the most comprehensive review of lenders intermediary technology in the market.

For the 2006 Study we have again partnered with Mortgage Strategy Magazine, the UK's leading mortgage trade publication, which has enabled us to develop the Study to include additional survey questions. We have also included a section on the development of Open Data Standards in the industry.

This extensive research will be useful for planning and prioritising enhancements to your institution's distribution technology for the coming years.

Study Contents

• The study contains the following topics:
• Executive Overview
• Overview of 2006 Survey participants and study findings
• Detailed 2006 Study Findings
• Mortgage trading platforms, sourcing systems and open data standards
• Comprehensive reviews of lenders intermediary websites
• Lender research on technology best practice amongst intermediaries
• Broker research on technology best practice amongst lenders
• If you are interested in being involved in the 2006 Study or require bespoke research please contact enquiries@frankeveconsulting.co.uk