Mortgage Advice Bureau (MAB) has deployed a financial vulnerability assessment tool throughout its dealer community.
Developed by obligation of care firm Comentis, the tool will assist MAB to establish and assist susceptible prospects.
It might be rolled out to MAB’s dealer community in August 2025, following a profitable four-month trial.
The tool will assist to make sure prospects are getting the proper outcomes, and supplies advisers with clear data/information to allow them to supply tailor-made assist to prospects.
It will enable prospects to enter further details about their circumstances, which can create extra constant, correct information, and a rise in identification charges.
MAB group chief danger officer Paul Gill says: “We’re excited to be implementing the Comentis tool throughout MAB. This improvement is vital to serving to MAB guarantee we proceed to fulfill the Consumer Duty necessities.”
“It’s additionally testomony to how we’re adapting the best way through which we higher assist each prospects and advisers, notably in the case of figuring out vulnerability.”
Comentis chief govt Jonathan Barrett provides: “Following a profitable trial, we’re delighted to be supporting Mortgage Advice Bureau with the implementation of our tool.”
“The mortgage sector has an important position to play in safeguarding susceptible prospects, notably as regulatory focus continues to extend, particularly round identification, assist and information.”
“Implementation of this tool is a big step ahead in making certain mortgage intermediaries meet these essential obligations, making certain that susceptible prospects obtain the assist they want and deserve.”
