Mortgages and Loans: The Benefit of Consumer Data Providers

Mortgages and Loans: The Benefit of Consumer Data Providers

Both mortgage leads and loan leads have seen a significant rise in demand over the past few years as the financial services industry recovers from the effects of the recession and sales and marketing plans get back on track. Here at Seawave we help mortgage and loan businesses to capitalise on this success without compromising compliance.

The Recent Growth of Mortgages and Loans

Despite the crippling effect of the recession on the number of mortgages and loans successfully secured, the finance sector has struggled through and is now finding its feet once more. According to the Financial Conduct Authority, the amount of money lent via mortgages or personal loans has almost doubled since 2012, suggesting that the financial sector is finally on the up.

With talk that the Bank of England may lower the base rate yet further, banks are bracing themselves for renewed interest in borrowing and companies are looking to consumer data providers to ensure they have a plan in place to contact potential customers as soon as they express an interest in borrowing money.

The Benefits of Financial Lead Generation

While internal lead generation provides a feeling of complete control on the part of the business owner, it can lead to reduced success and potentially catastrophic consequences if compliance issues aren’t followed to the letter. By making use of consumer data providers, companies can avoid compliance issues and feel confident they’re only using fully compliant data.

Externally sourced mortgage leads and loan leads can also help businesses to focus energy and time on other important aspects of their business, while UK list brokers deliver tailored lead generation campaigns. Capitalising on experience and focus, data collection through consumer data providers can ensure companies have the benefit of fresh opt-in data without the risks.

Where Does Seawave Come In?

Seawave Media is dedicated to delivering companies the accurate, authenticated data they require. While collecting data for secured and unsecured loan and mortgage leads, we randomly check the quality of all our contacts and raw data to ensure it is fully compliant.

Focused on helping financial services companies achieve their targets, Seawave Media also provides businesses with the opportunity to include sponsored questions in their lead generation campaign. This ensures companies receive data that delivers an excellent return on investment by fully targeting a chosen campaign and delivering valuable responses.

July 13, 2016 / Uncategorized

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Mortgages and Loans: The Benefit of Consumer Data Providers

In May 2018, the new GDPR regulations become enforceable for all countries operating within the European Union. The new legislation establishes stringent changes to the way companies collect and process data and even more stringent consequences for those companies that fail to make their data fully compliant. And there’s not much chance that Brexit is going to make any difference; the regulations will become firmly established into law by the time we’ve left, and show little chance of being repealed afterwards. So, if you’ve not already optimised your consumer data processing practices, it’s time to start.

Opt-in data changes under the GDPR

One of the most profound changes that the GDPR will establish is in the way that businesses collect data. Whereas before you could operate under an opt-out policy, ensuring customers had to specifically declare that they didn’t want their data processed, now the opposite is the case. An individual now must actively volunteer their data, with tick boxes being the preferred method. Here are some other details the GDPR specifies:
  • As a default, tick boxed should be un-ticked. There should be further options available that allow the user to select the type of marketing correspondence they wish to receive; email, phone or mail.
  • The data subject is permitted to opt out of data processing at any point after opting in.
  • Consenting to data collection should not be a condition of service.
  • Sending someone an email to ask them for marketing permission is not permissible.
These changes will create profound challenges for companies looking to generate leads from marketing. What’s more, there’s a maximum fine of up to 20 million Euros, or four per cent of global turnover payable for a breach of these regulations; a figure that’s easily enough to send smaller firms into administration.

How to demonstrate data compliance

If companies choose to continue processing their own data after May 2018, there are a number of policies they will have to implement in order to demonstrate their GDPR compliance: • Appoint a data protection officer if at all feasible. • Carefully record and document all data processing activities. • Implement data minimisation and ‘pseudononymisation’ guidelines that adhere to the new regulations. In short, the data protection regulations that come into force next year are a minefield. The entire document clocks up just under a hundred individual articles that need to be adhered to.

Fully compliant data experts at Seawave

The team here at Seawave Media have a professional and comprehensive knowledge of the GDPR and other data protection regulations. It’s of vital importance to us that we operate to the highest data protection standards, and provide the most optimised and highest quality data possible within these regulations. Our goal is to ensure every legal box is ticked, while still providing you with high value consumer lifestyle survey leads that deliver a great ROI.

Contact us today to find out more about how we can help optimise your lead marketing strategy, both right now and after the GDPR regulations come through in May next year.