Make 2024 the year you Try Outsourcing

Demand for customers to turn to a Mortgage Broker for loan options and advice is likely to remain strong in 2024. As a result, we expect that demand for Outsourced Mortgage Broker Assistants and
general VA’s will continue to be strong to maximise cost effectiveness and free up time for the Mortgage Broker.

Picture a future where everyday tasks like document processing, data entry, and follow-ups seamlessly fall into place. It's not just a change; it's a game-changing improvement, simplifying and documenting workflows, processes and unleashing fresh possibilities for brokers.

We are seeing Mortgage Brokers wanting a tailored solutions designed specifically for the Broking industry and their business assisting in the Residential lending space as well as Asset Finance and Commercial Property Finance. We are also seeing Brokers avail themselves of social media marketing staff or packages provided by their offshore service provider.

Compliance & Data Security:

There will be a continued focus on data security especially with the continuation of cyber-attacks and data breaches in 2023. The focus of Aggregators and Brokers has been on both Offshore and
Onshore Outsourcing ensuring the outsourced roles are compliant with best practice (using ISO 27001 complaint Company for outsourcing).

The usual Best Practice areas continue to be:

• Storage of client data and compliance with Australian Privacy Principles in particular App 8.1
  
• PC security including Multifactor Authentication using authenticator app’s, disabling of USB ports, PC monitoring software
  
• Office security – Biometric access, Mobile phone’s not at workstation, video monitoring
  
• Work from Office – WFH is still sought after however this can increase compliance risks especially if not outsourcing via a reputable provider that monitors and implements security measures. Work in the office is still the safest and preferred way to minimise compliance risks.

Employing direct offshore whilst it could save on costs, it is fraught with danger from a data security perspective and can be expensive to run if trying to implement security measures that a provider would do for you. We expect that this aspect of offshoring will be under increased scrutiny and become harder in 2024. Using a provider that will look after all day-to-day operations with the appropriate security measures in place will reduce a Brokers risk.

In this ever-changing world, offshoring continuously transforms in the mortgage industry, adapting to these changes is like becoming a skilled navigator in the seas of offshoring. In 2024, it will be even more important for Brokers to avail themselves of the expertise of an industry specific Offshore provider such Remote Broker Solutions (RBS), a company certified with ISO-27001 and expertise in the Mortgage Broking industry. RBS stands tall as one of the leading offshoring solutions for mortgage brokers, ensuring your journey is not only smooth but also fortified with the highest standards of data security.