Following the introduction of Best Interests Duty (BID) for mortgage brokers, Connective designed workflow to assist brokers. The Mercury Nexus Compliance Centre was specifically developed to assist you in meeting your legislative requirements. The key benefits of the Compliance Centre include:
- A detailed notes section to act as evidence.
- Product comparisons for you to provide to your customer.
- A compulsory end-to-end workflow for credit representatives.
- A best practice workflow for ACL brokers.
- An auto-generated Summary of Requirements and Credit Proposal which you can present to your customer that demonstrates how you have acted in their best interests.
- Flexibility to mould your existing processes around the workflow
- Audit history and ability to create a file evidencing your compliance with BID in the event an ASIC or AFCA issue arises in the future.
To learn more about Best Interests Duty please visit the BID Hub here