White Rose Finance's challenges
Before Doc2, managing and distributing key documents to ARs was a cumbersome task for WRF. These included Terms of Business, Fact Finds and Consent to Search templates amongst others.
The process was reliant on manual Word templates, which were distributed via email or an intranet. Ensuring each AR updated their local versions was not only time-consuming but fraught with potential for errors and inconsistencies. A known, but little managed risk.
This outdated system was hindering the onboarding of new ARs and the overall growth of the network, as well as affecting the ARs’ ability to efficiently manage their administration and focus on business development.
ARs were burdened with templates that created significant friction on deals, slowing sales cycles and creating unnecessary administration. This created a negative impact on their end clients, themselves and the WRF network.
How Doc2 solved these challenges
The adoption of Doc2’s Management Portal and Template Library solution revolutionised WRF’s operations. Allowing for both onboarding of ARs and compliant distribution of WRF templates to ARs for their personal use.
The platform allowed for seamless onboarding of new ARs, with AR Agreements and FCA checklists sent swiftly to prospective brokers. Frictionless onboarding allowed for brokers to start operating more quickly.
Furthermore, ARs can now simply install the required WRF templates, knowing that it is the most up to date version. WRF can centrally update templates knowing these would instantly be reflected across all AR accounts.
This not only saved valuable time but also ensured consistency and compliance in a constantly changing regulatory landscape. Dual-editable Fact Finds and seamless Terms of Businesses can be sent in seconds, resulting in an increased capacity to grow the ARs book of business and more satisfied end clients. Barbara Cacao of CC Finance, an AR of WRF, stated that it “makes paperwork really easy for all involved.”
Simon Burke, Operations Director, lauded the platform’s impact, saying, “The speed at which we’re able to take care of administration has been massive for us and our broker network. It is allowing our ARs to spend time on business development and closing deals – we’ve seen increased volumes and pipelines since rolling out Doc2.”
Hours - SAVED PER DEAL - Fact Finds are completed in a fraction of the time, saving hours.
Central - COMPLAINCE - Templates used by the ARs are controlled by WRF.
Increased - DOCUMENTS RETURNED - The number of Fact Finds returned has increased significantly.
The software has brought efficiencies for our brokers using it, allowing them to win more business, whilst looking more professional with their clients.
It’s been a great addition to our network proposition and sits nicely alongside other technology that we use.
Simon Burke, Operations Director, White Rose Finance Group
Read the original success story: Accelerating Network Growth and Ensuring Compliance: White Rose Finance's Success with Doc2
