How AI and technology are shaping the future of broker–lender relationships
Technology continues to reshape the broker-lender marketplace, creating both opportunities and challenges for brokers of all sizes
According to Richard Cameron, CEO of Close Brothers Broker Solutions, technology is no longer a “nice to have” - it is becoming fundamental to the broker customer journey.
“For SMEs and brokers alike, time is limited. Many SME customers are plumbers, electricians and busy business owners who cannot afford lengthy or complex processes. Brokers face the same pressures. Technology offers a way to reduce manual work, deliver decisions faster and create predictable service levels that customers can rely on.
“Newer lenders and challenger banks have benefited from being able to build digital platforms without legacy systems. This has enabled them to remove friction from the broker journey, providing faster turnaround times with more consistent outcomes. Brokers need to understand exactly what level of speed and service they can expect from a lender, so they can pass that confidence on to customers. For SMEs, certainty and speed matter just as much as price or credit appetite.
“Close Brothers is also exploring how AI can unlock new levels of efficiency. One example includes a financial analysis task that previously took up to four hours which can now be completed in under a minute using an AI‑driven prompt. This type of automation is only the beginning. The next evolution will involve AI becoming embedded directly within systems, enabling data to flow more efficiently across brokers and lenders.
“Brokers themselves are increasingly recognising this shift. Close Brothers recently commissioned research from 500 brokers, which found that 71% believe AI will have an impact on their business, and 74% are already planning to incorporate it into their processes. Many believe AI will help fuel growth and create new opportunities rather than replacing the broker’s role.
“AI will likely enhance the relationship between broker and customer, not remove it. While SMEs may begin using AI tools for research or initial information‑gathering, human guidance remains crucial. AI is still early in its evolution and trust will take time to develop. For now, people still trust people - and brokers continue to play the central relationship role in the customer journey.”
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