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‘Get online or lose sales’

Standard Life Bank is urging brokers and lenders to get to grips with technology or risk losing business.

The bank’s study shows that 32 per cent of brokers do not recognise they may lose business if they are not available online to consumers.

The firm also says lenders do not always set the best example as many do not have full online application facilities.

Head of sales Jackie Moran says: “As the internet increasingly becomes the backbone of business, it is crucial that neither lenders nor advisers get left behind. There will be growing pressure on players who are not embracing the internet to be there. Customers want things done as quickly as possible so it is important for lenders to get online.”

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