Together with Rulecube, Figlo and Yellowtail have developed a pre-indication for mortgages. This innovation offers instant insight into the latent feasibility of a mortgage at any stage of the mortgage advice process. It is currently used within advice software Figlo by a pilot group of advisors. The Mortgage Indication enables mortgage advisors to gain more certainty about the eligibility of the final mortgage application.
Figlo has implemented the Mortgage Indication in Figlo Mortgages. “The uncertainty about the feasibility of a mortgage is seen as a great obstacle by clients and advisors. But with the Mortgage Indication, we are taking a considerable step forward in solving this problem.”, says Nathan Brouwer, Enterprise Account Executive at Figlo.
“I expect both clients and advisors to appreciate this immensely. More certainty earlier in the process will provide peace and confidence in the otherwise stressful process of a mortgage application.”
This solution was realized by Yellowtail Conclusion using Rulecube, a low-code API and business rule platform. An impressive total of 200 acceptance rules are defined using Rulecube, while MoneyView provides the factual input for these acceptance rules. The mortgage advisor can then tell how feasible the application is from a simple traffic light system in Figlo mortgages. The application continuously runs the data by the acceptance rules throughout the advice process. Alerts generated by Rulecube indicate which areas still need attention from the advisor.
A launching enterprise customer has already started using the Mortgage Indication. The true value of this innovation is in the amount of data and rules involved in the validation. The main objective is to make the mortgage application process faster and more efficient. Making the validation part of the generic Figlo Mortgages product allows Figlo and Yellowtail to offer this innovation to a broader audience.
Matthijs Mons, managing director at Yellowtail Conclusion: “We are pretty proud of this innovation, particularly because we’ve achieved this in a concise timeframe, thanks to the great collaboration with all parties involved.”. Nathan Brouwer adds: “Of course, we want to make this technology available to all our clients. Soon, independent advisors can choose to expand their license with this module. The same goes for our enterprise clients; we want the entire industry to profit from this development.”
The Mortgage Indication will be actively used in a select group of advice branches starting in October. Figlo, Yellowtail, and Rulecube will expand the functionalities in the upcoming months. They indicate to look forward to the next steps in making the advice process easier and faster.
Yellowtail designs, builds, and manages digital and data-driven software solutions for the financial industry and has done so for 15 years. Its mission is to improve the quality of the financial lives of consumers. Their products and services help activate consumers, offer them the capacity to act, and install trust in making (better) financial decisions. Creating the ultimate client experience is the focus. Their domain focus offers Yellowtail a deep understanding of the underlying processes, data, and technology, like robotics and machine learning. Read more about Yellowtail
Figlo offers over 25 years of experience building innovative product solutions for financial professionals and their clients. Its mission is to ‘Enable everybody to understand and impact their financial future.’. Figlo is convinced that everyone should have financial insight. Financial insight creates financial awareness. Financial awareness creates resilience. Eventually, financial resilience creates peace of mind. Accurately visualizing the net spendable income as part of a holistic financial plan, including scenarios like death, disability, unemployment, and divorce, paired with a potential course of action, is how Figlo lays the stable foundation for various services in the financial industry. Read more about Figlo