The fintech firm, which is owned by DPR, released its Onboarding Module back in 2019. It is used by brokers to convert leads, qualify consumers for lending criteria and affordability as well as collecting customer data to convert into high quality leads for lenders and brokers.

This original module gives brokers the tools to provide digital mortgage applications. It includes an extended digital fact find, document upload, digital signatures, biometric ID verification and open banking connectivity.

Now the new Client Portal is set to simplify everyday admin processes by providing live status updates to clients, digitally generated reports and an appointment management feature to help brokers keep on top of workload.

Research conducted by DPR Group showed 55% of brokers said fact find would increase operational efficiency. What’s more 79% of mortgage applicants would be comfortable using digital signatures.

Indeed the module is aimed at simplifying everyday admin processes by providing live status updates to clients, digitally generated reports, and an appointment management feature to help brokers keep on top of workload.

DPR’s research also showed 67% of consumers would explore mortgage options with a broker if they were contacted before their deal ended.

As such the Retention Module comes at an important time with historically low interest rates and with hopes the pandemic enters a more stable zone.

It aims to provide brokers with the tools to compete with the rising number of product transfers caused by low repayment rate options and the busy purchase market.

Using automated email updates for key customer engagement points, remortgage prospects and cross-selling opportunities, the Retention Module is designed to improve client retention rates and increase brand awareness.

Burrow said it quickly filled up its quota of 30 broker firms which wanted to be first to test out the solution.

Although officially launching this summer, interested firms are invited to join the ‘Early Adopter List’ via the Burrow site to ensure priority access to the platform once open to everyone.

Pradeep Raman, founder of Burrow, said: “Unprecedented activity levels in the purchase market, paired with high rates of product transfers and a challenging market for cross-selling, has created a difficult environment for brokers over the past twelve months.

“We have listened to brokers and what they really want, and we are proud to be launching a product which cuts through the noise and provides the tools for an end-to-end mortgage journey, from initial research stage through application to renewal.

“It is essential to us that the Burrow Digital Mortgage Platform helps brokers hit the ground running, which is why we are offering limited spaces on the launch. Brokers are encouraged to join our ‘Early Adopter List’ to ensure they receive full access in the summer and can start reaping the benefits from the outset.”