BrokerEngine provide a Brokerage Management Platform. It’s a CRM and workflow management package used by hundreds of brokers and broking businesses to deliver a wide variety of loan types.

When they approached us they were stuck on an enterprise platform that was slow, inflexible and that cost them high monthly license fees. The growth of their business depended on making a change.

The Challenge

BrokerEngine does a lot more than financial projections and assessments.

You see, processing a mortgage requires a complex workflow between borrowers, lenders and their broker. Often the actions of one party require additional work by another. To make it worse, these workflows often change by loan type and the workflows themselves need to be updated as lending requirements change.

For BrokerEngine, the platform needed to be adaptable. They needed to create these new workflows quickly. For brokers, the system needed to be simple to use, highly visual, and importantly, it needed to do the heavy lifting of communicating with all parties involved in fulfillment (e.g. lawyers, convencers etc).

Ohh, and we also had to migrate users and their loans between the old and new systems.

Our Approach

We began by working extensively with BrokerEngine to map out a range of loan workflow processes. We then developed a customisable platform to handle both current and future requirements.

From the broker perspective, our focus was on key features:

  1. Setup – Setting up loans quickly and ensuring the deal is likely to proceed based on the specifics of the property and financials of the borrower.
  2. Checklists – Customisable checklists to ensure every detail in a loan is covered
  3. Communications – Automated messaging (email and sms) between all parties to save time
  4. Documentation – Creation of loan documentation – again, a significant timesaver.

We also worked closely with BrokerEngine to develop an elegant “drag & drop” user interface for brokers that masks much of the underlying workflow complexity.

The Results

The new BrokerEngine platform is now live. It’s fast, elegant and new clients are regularly being added with no enterprise license fees to pay.

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