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17 Mortgage & Finance brief
Mobile business apps
Stay ahead of the way consumers ‘consume’ and embrace
mobile apps. Alexandra Middleton tells us what, why and how.
I NEED TO
A well-constructed and useful
app should be intuitive, easy to
use, clean and not data heavy.
“If it doesn’t perform the basic
functionality required, it will be
deleted just as fast as it was
downloaded,” says Mitchener.
King from MiBizApps says: “It’s
like a new-age electronic business
card – getting a place on your client’s
mobile phone is prime real estate”.
Over 67% of the population own a mobile
phone, with 80% of an average individual’s
phone time spent in applications. Now more
than ever, clients have the capacity to research
products, services and property information
instantly. This is where apps can make all the
difference to a broker’s service offering.
According to Adam King, CEO of MiBizApps,
if you combine the smartphone and social
media movements, that’s a huge segment of
the population that demands interaction w ith
people and businesses while they’re out and
“If they want to connect with someone, they
do it instantly and they expect to get results –
fast,” he says.
WHAT IS A MOBILE APP?
A mobile application is software specifically
designed for use on android or smartphone. With
hundreds of thousands of apps on the market, it’s
proven that mobile apps can be customised.
Businesses have increasingly embraced mobile
apps as a means of increasing their reach and
interaction with clients, as well as offering a
convenient and visually pleasing way to access
broker information and services.
According to the MiBizApps website, the
reach of mobile apps is undeniable – more
than 84% of small businesses experience
increased business after implementing mobile
Home Loan Helper
My Mortgage Kit
HERE ARE JUST
A FEW APPS ON
THE MARKET AT
to keep your client and you’ll save time
and money if the matter would have
escalated to external resolution.
Good complaints management should
be viewed as a positive way to improve
your control systems, as well as using
that ‘touch point’ with the client to
If complaints in regulated lending are
satisfactorily resolved within five business
days, no written response is required –
unless the complainant seeks one.
If you are a credit representative, you
may be able to use your licensee’s IDR
process – contact your licensee about
Clients should feel no hesitation in
making a complaint directly to you
about services rendered if they wish.
Members should view this as an
opportunity to excel.
Your business representatives should
know how to manage a complaint and
to whom they should be directed to
enable a prompt and proactive response.
Ignoring a complaint is pointless and
could result in regulatory sanction.
It is essential that a client is
Almost every organisation
that sells goods or services
will receive a complaint at
some point. For example, the Australian
telecommunications industry receives
almost 200,000 complaints each year.
The majority are about customer service
delivery, billing, payments and faults,
followed closely by the way complaints are
MFAA members agree to have internal
dispute resolution (IDR) procedures in
place to address and resolve customer
complaints within a reasonable time.
In regulated lending, this is a statutory
Remember that if you resolve a
complaint yourself quickly and fairly, you’ll
demonstrate efficiency, you’re more likely
Q: Have you looked at
I NEED TO
DON’T FORGET YOUR IDR
THE MFAA COMPLIANCE TEAM ANSWERS YOUR
COMPLIANCE, SECURITY AND GOVERNANCE QUESTIONS.
This information is provided as a guide for MFAA members
and should not be construed as legal advice.
17 Mortgage & Finance brief
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