Customer Portal & Open Banking

The launch of our Customer Portal that uses Open Banking is an exciting time in the industry and you’re leading the way as Australia’s first brokers to access open banking.

You should be proud to be a leader and we encourage you to lead the conversation for adoption of open banking with your clients so they feel comfortable providing consent. 

What does this mean for Sherlok customers?

When you approve a reprice in Sherlok, you will be given three options to collect your clients loan data (which is the first step in the reprice process). The first option is the Customer Portalclients will be asked to provide updated loan data by connecting to open banking or manually updating their details using your broker branded portal. Once this has been completed, your clients will receive one of the following notifications:

1. Their loan will be repriced to request a lower rate (the loan will be automatically queued for repricing in Sherlok)
2. Their loan is fixed and you’ve made a note to review it when it expires (Sherlok will auto update the fixed rate expiry and requeued this for repricing 90 days prior to the expiry) 
3. Their loan has a competitive interest rate but you’ll be notified if it becomes competitive so you can request a lower rate. 

If your clients consent to open banking, you will have a live feed of their loan data for 12 months in Sherlok. No more calling the banks to get info. How good is that!

You can view the customer portal by clicking this link.

Here’s what you need to do to prepare your clients:

1. Check your logo and profile picture in the Sherlok portal is up to date as the Customer Portal will use these
2. Record a video for your clients to help them understand the value of providing consent and how their data will be used to help them:
3. Here’s an example we prepared earlier that you can use as a guide (don’t send this one though, you need to create this yourself!)
4. Here’s a script you can use as a guide - add your own personality to suit your style
5. When the Customer Portal is launched you will have a new Customer Portal email template in the Sherlok Portal which you can customise

Please give us feedback about how this is being received by your clients - any push back, questions, comments - the good the bad and the ugly, we need to hear it to improve (the best way to share is via the Chat in the Sherlok Portal).