360 Lifecycle celebrates 2023: £35 billion in lending, prestigious awards, strategic partnerships and technological advancements

Reflecting on 2023’s achievements, 360 Lifecycle facilitated an outstanding £35 billion in lending.

Q2 marked a record-breaking quarter with over £10.5 billion of mortgages written, leading to the creation of over 75,000 FactFinds. 2023 saw 263,000 FactFinds, over 157,000 mortgages, 70,000 protection policies and 9,000 buildings and contents policies written for the year, by our outstanding client base.

Client engagement rocketed, powered by growth in our Client Portal users surpassing 195,000 in Q4 2023, showing a 12% increase from the same quarter in 2022. Additionally, Client Portal repeat business experienced a 17% growth compared to the previous year, showcasing our commitment to enhancing client relationships.

2023 was a year of unparalleled achievements for 360 Lifecycle, setting new standards and reaffirming our position as an industry leader. Recognised for our commitment to technological innovation, we were honoured with winning two prestigious awards in 2023 – ‘Best Technology Provider’ and ‘Mortgage Technology Provider of the Year’. These highlight the trust and support from our clients and our dedication to simplifying the mortgage application process.

Another important milestone saw Consumer Duty regulations introduced requiring enhancements to our FactFind. These improvements specifically addressed inquiries related to client circumstances and vulnerabilities, employing a data-driven approach as required by the FCA. The upgraded FactFind facilitated additional data capture, empowering firms to acquire more comprehensive information.

In 2023, we had the privilege of renewing several partnerships. We celebrated a 3-year contract renewal with Alexander Hall, after working closely with the business since 2018 to ensure our platform matches their requirements to help drive the company forward.

Further strengthening our system, we secured additional growth capital from Quilter PLC a longstanding investor since 2015. 360 Lifecycle is a key component of their advice network, Quilter Financial Planning helping them to boost productivity and revenue.

From Q4, users benefited from the convenience of a single unified login to complete, submit, and manage mortgage applications with numerous lenders using a versatile application. This streamlined process eliminated the need to input information across different platforms and provides access to a wide range of products from over 110 different lenders.

During Q4, the integration of UnderwriteMe’s Protection Platform into 360 Lifecycle elevated the protection sales process for advisers. This enabled the seamless transfer of client data, underwriting decisions, and both standard and underwritten premiums.

Upon reviewing 2023, 360 Lifecycle recorded over 35% of mortgages in the loan-to-value bracket of 60%-80%. 40%-60% LTV experienced a noteworthy 14% growth in 2023 compared to the previous year. Product transfers witnessed a substantial surge increasing by an impressive 39% in 2023 compared to 2022, reaching a total of over 34,000 for the year.

2023 was a successful year for our customer base. The ongoing trust and support we have received has been instrumental in our success, and we are looking forward to another year of joint achievements.

As we venture into 2024 with a vision for growth and our commitment to excellence, this year holds innovative transformations designed to better serve our clients. We cannot wait to unveil these enhancements in the coming months.

Ozgur Unlu, CEO of 360 Lifecycle said: “It is incredible to see another exceptional year for us as we continue to hit groundbreaking figures, what an achievement for our team! The numbers and developments will continue to increase as we unveil the pipeline for 2024. It is fantastic to see our clients utilising our technology, we hope to see more advisers adopt our platform to benefit their business.”

Stephen Cowdell, Head of Intermediary Sales at 360 Lifecycle said: “Our focus on client engagement, innovation and strategic partnerships, exemplified by the awards, highlights our commitment to service and excellence. It is truly gratifying to see our technology making a positive impact and we anticipate further growth following a number of transformative enhancements on the horizon for 2024.”