The UK business lending market is highly competitive, with over 200 business-to-business lenders offering various products and services to meet the diverse cashflow needs of SMEs. However, most of this funding is not directly sourced by the SMEs, but rather via introducers, such as brokers, accountants, and consultants. These intermediaries play a vital role in connecting SMEs to the right lender and facilitating the lending process.
So, how do lenders differentiate themselves and ensure they are the preferred choice of their introducers and their clients? At Ultimate Finance, we have a clear answer: we put introducers at the heart of our business model. Our Introducer Strategy is one of our strategic pillars, and it guides everything we do, from our product design and pricing to our marketing, communications, and event planning. We aim to build strong relationships with our introducers and provide them with the best service possible. As a result, we have achieved market-leading customer satisfaction ratings through our Net Promoter Score of 68 and leading client retention levels with an average Working Capital retention rate of 7 years as of 2023 for instance.
Our Introducer Strategy is based on the following principles:
People buy from people they know, like and trust
We understand that introducers are more likely to work with lenders who have a strong network and a consistent lending appetite. That’s why we spend time to understand our introducers, their clients, and their preferred ways of working, and tailor our approach accordingly. We also share key insights on a regular basis about our products, lending criteria and underwriting approach, so that our introducers can get a quick and accurate answer for their clients’ funding requirements. We remain constantly transparent about our trust indicators with up-to-date information about our Trustpilot ratings and reviews so introducers and their clients can gain further understanding of how we work based on other businesses’ real experiences.
Streamline the deal process as much as possible
We know that time is of the essence when it comes to business lending, and that introducers and their clients expect a fast and smooth service. That’s why we continuously improve our processes, communications, and ways of working to make the decision-making process upfront as efficient as possible. We operate as ‘deal teams’, where the underwriters and relationship managers get involved alongside our sales team from the start, and we strongly believe in the power of quick decisions to help businesses keep moving, because we understand that a quick no can be almost as important when it comes to sourcing funding. And once we onboard new clients, our dedicated relationship management team ensure the in-life funding facilities run smoothly, with the aim of making the end-to-end process as hassle-free as possible.
Leverage technology and data to deliver
We embrace the latest and relevant innovations in technology and data, to support our people and enhance our service. However, we do not rely on automated decision making, as we believe that lending is a human business, and that taking the time to understand our clients and their ambitions helps us deliver the best funding solution to meet their needs. Often referred to as a “story-book lender”, we take the time to associate data-driven processes to real-life conversations so we can understand the ins and outs of a business, what success looks like for its team and what ambitions or challenges led them to us – because figures don’t tell the full story.
Harnessing feedback for continuous improvement
We also value feedback and recommendations as part of our learning and improvement approach, which includes direct feedback to our teams, our in-process surveys, our annual Net Promoter Score survey and our Trustpilot review account. We have found this to work extremely well, and we can act on the feedback swiftly, often making immediate improvements or identifying areas for future development as part of our ongoing change programme. We are proud to maintain our market-leading Trustpilot 5* rating year after year.
By following our Introducer Strategy, we have established ourselves as a leading lender in the UK business lending market, and we are proud to work with our introducers and their clients to help them achieve their goals. If you are an introducer interested in finding out more about our products and services, please contact us today by filling in our quick registration form. We would love to hear from you.
