Huntswood's three lens approach to MMR examines regulatory changes from the regulatory and business view, customer view, and seller/salesforce view. The regulatory and business view considers whether regulatory expectations are met efficiently. The customer view assesses if the customer journey provides a holistic understanding to deliver good outcomes. The seller/salesforce view analyzes whether the right people sell appropriate products in a controlled, monitored environment.
1. Huntswood three lens approach to MMR
1. REGULATORY
AND BUSINESS
VIEW
2. CUSTOMER
VIEW
3. SELLER AND
SALESFORCE VIEW
Huntswood’s approach looks at the changes
our clients have implemented for MMR
across three interdependent views, to answer
these questions:
1. Does the operating environment deliver
regulatory expectations in an appropriate
and efficient way?
2. Does the customer journey produce a
holistic view of customers’ personal
and financial circumstances and is it
set up to deliver good outcomes?
3. Are the right people selling the right
products in a controlled environment
and how does the organisation
monitor and measure this?
2. Analyse the delivery of the
organisations operational intent
through the sales policy and process
Responsible lending
approach: execution only,
repayment method and debt
consolidation
Outcome assessment: advice
and recommendations
provided and supported by
evidence
Key drivers of affordability
assessment: personal
circumstances vs modelled
assumptions
Business objectives for the
mortgage sales process
Monitoring and control of
the business feeds decision
making on business
objectives
Cost benefit analysis of
distribution method /
channel such as execution
only (online and postal),
telephone and face to face
Assessment of the
operational delivery of the
sales process: compliance,
efficacy and efficiency
REGULATORY
AND BUSINESS
VIEW1Does the operating environment deliver regulatory
expectations in an appropriate and efficient way?
3. 2Does the customer journey produce a holistic view
of customers’ personal and financial circumstances
and is it set up to deliver good outcomes?
What are the key customer journey
points when entering into a
mortgage conversation
Factors in the sales process
that influence / dictate the
behaviour of the customer
and adviser
Financial history: needs and
plans; wants and aspirations
Personal circumstances: life
plans, future events,
retirement ambition etc.
Good customer outcomes
A clear understanding of the
intended customer outcome
and the most appropriate
solution
Customer engagement
levels assessed throughout
introduction, data
gathering, presentation and
recommendation
Recommendations based on
evidence; no “order taking”;
risk of rejecting advice
accepted and understood
CUSTOMER
VIEW
4. 3Are the right people selling the right products
in a controlled environment and how does the
organisation monitor and measure this?
The right people have more than
just a qualification
Make up of the sales force;
personality profiling,
a high performing team
culture / environment
Support, coaching and
mentoring approaches in use
Levers / mechanisms that
influence behaviour and
alignment to good outcomes
Control environment
Management information:
the ability to spot trends in
quality and performance
Post sale customer outcome
testing to assess delivery,
understanding and recreate
what happened
A continuous learning cycle
supportive of customer and
colleague outcomes
SELLER AND
SALESFORCE
VIEW
5. Speak to our expert
Stuart O’Sullivan
Principal Consultant
Advisory Services
0118 971 8591
sosullivan@huntswood.com
1. REGULATORY
AND BUSINESS
VIEW
2. CUSTOMER
VIEW
3. SELLER AND
SALESFORCE VIEW