Market insights

Insights from analysis of lender and broker discovery work, and completed discovery forms.

Key Insights

01

The dominant pattern is admin rework: chasing, checking, correcting, and packaging.

02

Right-first-time is still a major bottleneck.

03

Reducing this rework is one of the clearest ways to increase case capacity without adding headcount.

Already trusted by 100+ firms across UK financial services and counting

Agent Workflow

Nivo gathers what is needed, checks what has come back, and chases what is missing, so your team can focus on the work that actually moves cases forward.

Right First Time Information and Documents

How often information and documents come back right first time without rework or chasing required:

  • About 50%
  • Less than 30% (23%)
  • Rarely (16%)
  • Most of the time (11%)
  • About 30% (9%)
  • Less than 10% (5%)

Most Common Operational Pain Points

  • Chasing documents: 64%
  • Checking documents are complete/accurate: 60%
  • Going back when things are wrong/missing: 61%
  • KYC / ID verification: 45%
  • Status back and forth: 44%
  • Researching suitable lenders: 40%
  • Preparing application packs: 42%
  • Keying into lender portals/systems: 41%

What Causes the Most Rework

Common causes of delays include:

  • Incomplete applications: 52%
  • Wrong / inconsistent documents: 55%
  • Valuation issues: 43%
  • Borrower changes mid process: 46%
  • Criteria changes: 30%
  • Legal issues: 36%

Most Common Document Issues

  • Incomplete: 88%
  • Poor quality / unreadable: 50%
  • Wrong / unrelated docs: 46%
  • Missing pages: 42%
  • Outdated / expired: 46%

How Often Teams Chase Missing Items

  • Often: 46%
  • Sometimes: 23%
  • Always: 23%

Time from Full Application to Completion

Cycle time distribution:

  • 4+ weeks: 59%

Open Banking Usage for Income/Affordability Checks

Directional; varies by product type and policy:

  • No (but interested): 59%
  • Yes (some cases): 9%

Share of Cases that Stall or Drop Out

  • 20–30%: 47%

Typical Secured Loan Case

Typical case duration: 1 to 2 months
Message rounds per case: 15 to 20
Documents per case: 15 to 25
Require repeats or corrections: ~35%
Staff involved per case: 5+
Admin effort per case on chasing, checking, and fixing: 5+ hours

Conclusion

The real issue is not one isolated task. It is the repeated cycle of request, check, correct, re-key and repackage across the middle of the case. The opportunity is to remove rework across the case, not just speed up one step.