Technology is central and integral to our business model, it is developed in-house, and directly benefits MAB advisers and customers.  We are investing in a number of transformational technology developments, and are excited about the impact that this could bring to MAB in the shape of increased productivity and efficiency of existing advisers, as well as our ability to attract new advisers and lead sources due to the stand-out benefits our technology will be delivering.

In our industry as a whole technological transformation has been slow and there has been no major process change in the mortgage and home-moving process. In no small part this is due to the importance, complexity and sheer enormity of buying a home. However, the industry will inevitably see meaningful change in the medium term and MAB intends to continue to be right at the forefront of any innovation, leading as opposed to following. Put simply, we want MAB advisers to have the best and most straightforward technology tools to enable them to procure and help more customers, offer a wider range of products and services, and, most importantly, we want to use technology to design innovative new processes and provide an overall experience for customers that is second to none. A key part of this is delivering digital tools that can be used to support a customer’s research process and help them to apply for a mortgage.

We remain advocates of the importance of customers receiving full advice and this will continue to be our primary and most important focus. However, we will explore how some customers can get the mortgage they want through more expedient means, as they increasingly seek to research in a more remote and digital way.

MAB has made (and continues to develop) several key strategic investments, funded through its cashflow to date, and will continue to consider new opportunities that arise, as and when they are deemed to clearly support, enhance and accelerate our agenda of increasing our market share and profitability.  Whilst our investments to date have been relatively modest in size, we also consider and appraise larger investments to help accelerate the development of our customer and adviser proposition, lead generation, and distribution. 

We have started testing overseas markets through our joint venture in Australia to ascertain the feasibility of scaled cross border expansion. The signs are encouraging against a market backdrop that in many ways is similar to that of how the UK mortgage market was over a decade ago. Our technology developments will allow us to enter new markets far more easily, and accelerate growth in those markets.

MAB is also exploring home-moving as a process in its entirety, from start to finish. Currently MAB is involved in mortgages, protection, household insurance, surveys and conveyancing. In the medium term, we intend to expand our involvement beyond the mortgage transaction, through vertical integration with the ultimate aim of using technology to assist in the whole home moving process for a customer and increasing the footprint of our ancillary services that are capable of being provided digitally to ease that process and add further customer value.  Longer term, our goal is to help and guide our customers in their property journey throughout their lives, which include pre-purchase, rental, and later life lending. This will increase our target market considerably, as well as widen the range of products and services delivered by MAB face to face, over the phone, or for more simplistic offerings, on a self-serve basis for those who are comfortable transacting in this way.

In summary, our strategy remains focused on securing further growth through technology, lead generation and specialisation which will increase our market share and the number of mortgage completions in all market conditions, enabling us to continue to deliver strong returns to our investors.