2012 is the year of the mortgage calculator app

Mortgage calculator technology has come a long way in a short time. After many years trailing other sectors of the financial services industry, the mortgage industry is now leading the way when it comes to embracing, adopting, implementing and securing real and tangible benefits from technology.

When mortgage technology was first introduced it was greeted with scepticism. Now, the industry couldn’t do without it. For 2012, continued improvements in existing mortgage calculator technology are expected along with greater adoption and a few new innovations.

Point-of-sale and client relationship management systems have already become one of the most important technological aids for brokers. They are used to help streamline lengthy sales and admin processes. They enable brokers to increase their sales and customer retention and minimise the time spent on back office duties, they can also help with an increasingly tough regulatory regime.

2012 will see an increase in systems’ integration between service and product providers. This has already begun and over the next 12 months it will be developed further to create an even faster and slicker support service for brokers.

A consumer facing mobile app is due to be launched in early 2012. The app has been developed with brokers in mind to allow consumers to conduct high level mortgage searches, use a range of mortgage calculator products, then use GPS to show the ten nearest brokers.