iLend™ CSS/Online iLend™ Development Update
The Beta testing of iLend™ CSS has begun in earnest. Six brokers from around the country are using the individual iLend™ tools either on their website or from within their iLend™ desktop application. The first two completed modules being tested are the ‘My Budget’ (a.k.a. income and expenses) module and the ‘My Net Wealth’ (a.k.a. assets and liabilities) module. Initial feedback has been overwhelmingly positive. These two modules account for approximately 30%-40% of the client information – depending on the borrower situation.
Having completed Phase One: Technical Infrastructure late last year, we are now approximately 60% through Phase Two of the release programme. Phase Two is the construction of the ‘consumer facing’ tools which includes the input or client needs analysis (CNA) functions. Completing the CNA will provide the various output tools. These tools include all the iLend™ functions you are used to such as purchase costs, borrowing capacity (Maxcap), product search and compare as well as many new functions.
Our CNA has been built from the ground up based on the client process and the broker’s interaction with the client throughout the needs analysis process (maybe 30 minutes on the phone, maybe several appointments). We have built the CNA with a specific flow but as always with iLend™, you can start in the middle and work forwards and backwards. The CNA provides an intuitive interface which will change the format, functions and questions asked based on answers to previous questions – so it will make sense to move through the CNA in order.
There are twelve modules to the CNA. In addition to the standard details sections there is a new ‘Goals and Objectives’ module, ‘This Transaction’ module and a ‘Documentation and Verification’ module, the combination of which will ensure the process is as simple and efficient as possible, while integrating compliance seamlessly. Of the twelve modules we have released three for Beta testing. A further four are being internally tested. Two new modules are being worked on as we go to print with the planned completion by the end of March. By early April, we should have nine modules in Beta testing with only the smaller ‘Identification’, ‘Supporting Documents’ and ‘Protection’ modules to be completed by the end of April/early May.
If you would like to be involved in the Beta testing of these modules please contact our office.
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