For mortgage brokers, compliance is more than a regulatory requirement. It acts as a safety that helps protect your clients, your reputation and your business. While keeping up with requirements can sometimes feel overwhelming, it’s a fundamental part of building a trusted and sustainable broking business.
Staying compliant means meeting responsible lending and best interests’ duty obligations. Dropping the ball could lead to reputational damage, loss of client trust, loss of practice and even financial penalties.
According to the Finance Brokers Association of Australia (FBAA)’s November 2024 monthly broker poll report, regulatory and compliance tasks are the second-largest contributor to broker workloads. The real challenge isn’t just understanding the rules, it’s ensuring your processes are updated to reduce the risk of missed paperwork, late submissions or incomplete applications. To help stay on top of compliance requirements, many brokers are turning to technology to streamline processes, improve efficiency and reduce the administrative burden of managing deals.
Make compliance simpler
Keeping your business compliant can be challenging when you’re juggling multiple priorities. That’s where BrokerEngine Plus can help. BrokerEngine Plus helps simplify the process by bringing your brokerage’s moving parts into one platform. With the ability to create customisable workflows, you can spend more time delivering outstanding customer service.
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Discover how BrokerEngine Plus helps keep your brokerage protected and running smoothly – so you can focus on growing your business and supporting your clients.
Save time on every deal
Designed for brokers who want to move faster, BrokerEngine Plus uses tools to encourage a seamless journey from application to lodgement. Its customisable automation features, including task management and reminders, help you stay on top of important actions, giving you and your team greater confidence and peace of mind.
The integrated FinanceVault Client Portal securely collects supporting documents at every stage of the application process, helping to streamline document management and reduce administrative effort.
Peace of mind with easy-to-use compliance features
Obtaining customers’ signatures on compliance documents can be time consuming. Through FinanceVault, BrokerEngine Plus streamlines the delivery and signing of Credit Guides, Privacy Consents and Credit Proposals, helping you work more efficiently.
It’s a compliant, user-friendly feature that removes the need for wet or electronic signature tools like DocuSign. Instead, a simple checkbox from your client is all it takes to keep things moving.
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This article contains general information only and does not constitute financial, legal, tax or accounting advice. The information does not take into account the objectives, financial situation or needs of any particular person. Before making any financial or business decision, independent professional advice should be obtained where appropriate.