Nivo identified and solved problems Freedom Finance didn’t know they had

The challenge 

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Freedom Finance predominantly relied on couriers for the processing of our cases. When they looked to implement a more efficient technology, speed was one of the main drivers, the quicker a case can be turned around the less resource needed.

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In reality, though the challenge came down to a lack of control over the process, as Andy Fisher, Chief Commercial Officer from Freedom Finance explains: 

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“Where we were in the hands of couriers and the royal mail, the cycle of an application we were not in control of as a lot of it relied on external factors. Nivo has meant that we are in control of the process to a much greater extent enabling us to track progress, drive completions and chase for outstanding information using very little resource.” 

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Issues building continuity with couriers plus the high costs with an average of £65 per send, missed appointments causing dissatisfied customers and complaints, plus paperwork mistakes resulted in an inefficient process that used more resources than we could afford. 

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When it comes to shortening the process to confirm affordability by gathering factual information no other solution was competing on the same level as Nivo with having everything in one solution. 

The results 

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Improving the accuracy and speeding up the process is beneficial for the customer which is ultimately what Freedom was looking to achieve. 

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From the four years of working together, Freedom Finance has experienced a 90% increase in advisor productivity and outcome down to having Nivo as an application partner. Amounting to a growth of 3, 3.2 advise sales weekly per advisor.

The Nivo solution 

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While Nivo’s technology is distinguished in the market, one of the things we pride ourselves on is having the best in-house expertise. 

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“We met with Mat in the early stages and I remember thinking he just gets it, there is no hard sell here because he knows the market, understands the pressures I knew about, highlighted issues I wasn’t aware of, and a solution that will work for us.”

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The features: 

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Looking through the lens of the customer, the Nivo features that have had the most impact include usability with access to 24/7 non-interrupted instant messaging and the ID functionality - customers don’t have to release their physical passport. 

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The future 

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Freedom Finance has grown significantly through the pandemic. We went into the pandemic with 230 staff and we’re 20% larger on a units basis we currently have 140 staff today. This represents a significant reduction in headcount with a significant increase in volume and output because of the efficiency provided by the technology.

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Explore our technology and request a demo to find out how Nivo can support your business.

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