In the 2 years since the GFC hit the financial market, which made funding inaccessible and the non-majors uncompetitive, there has been a dramatic shift in the use of technology by advisers, especially in how they connect to lenders
Having now been deployed for 6 months and to over 1200 end users, Pisces has now launched enterprise pricing of its market leading Product Engine.
Pisces will still offer individual users the ability to buy the software for only $35/month however aggregators will now be able to buy the platform for their whole group for a flat monthly price. The platform can be branded to reflect the aggregators branding requirements at no cost (with a 12 month contract) and all user accounts and lender panels can be directly managed by the aggregator directly.
For a small groups with less than 300 brokers the cost of the platform on a limited enterprise basis is less than a 1/3 of the cost of the typical 2 person team required to maintain data by an aggregator. Pisces is also offering unlimited user enterprise licensing for the larger groups.
For more information on how you can save money and provide better quality data to your brokers please contact us.
Pisces today, after 6 months of development, launched an industry first Product data hub specifically aimed at enabling auditable, accountable loan product assessment in the Australian mortgage industry. It is called Product Engine.
It is unique in a number of ways but primarily in that it is the first service of its kind in Australia that has been designed from the ground up to be provided as a service directly into existing platforms such as aggregator or 3rd party software platforms.
It is designed with a 3 tiered model that enables a platform provider to either take our interface and re-brand it within their own software, to use their own interface and plug it into the engine as a service or they can simply take a data feed directly into their own platform.
Sitting behind the engine is the most advanced product maintenance system and process yet seen in the Australian market. It has numerous innovations that drive data quality within the system to ensure the end user is never left providing inaccurate recommendations to their customers. Some of these innovations include detailed audit logs, real-time updates, lender review screens and broker query functions to name but a few.
The Product Engine represents the first major component of an 18 month program to refresh technology its that will position Pisces as the leading provider of services to the Australian mortgage distribution industry.
Suncorp has become the 3rd major lender to roll out Pisces e-app solution as its electronic lodgement solution for brokers, along with Westpac and Citibank before it.
Pisces was selected in September 2008 as the vendor and guided Suncorp through key aspects of designing, developing, implementating and rolling out the solution.
The e-app solution was made available to pilot brokers in February 2009 and has now been rolled out to the entire broker community as well as to Pisces existing e-app users from aggregation groups such as FAST, Choice, National Broker Group, Astute and nMB.
The solution will provide significant benefit to Suncorp as it plugs directly into their new Sunloan processing environment and caters for all range of residential lending including traditional, company and trusts.
Pisces Business Manager, Vincent Turner, has advised "In our experience of implementing e-app at over 10 major banks over the last 5 years, this was the most efficient implementation with total duration at less than 5 months despite the implementation occuring over the Christmas/NY period".
He attributes the unique partnership approach that was undertaken between Pisces and Suncorp as key to the success of the project whereby Pisces worked alongside Suncorp development teams which reduced iterations and enabled high IP transfer, especially around LIXI knowledge, from Pisces to Suncorp.