Acre has reported that its platform usage has doubled in the past year, following the introduction of Consumer Duty.

The firm said that the launch of Consumer Duty, the rise in interest rates and the drop in mortgage lending has resulted in "more lenders than ever" switching to its all-in-one intermediary platform to help "ease workflow inefficiencies".

As a result of this growth, Acre is on track to complete £20bn in mortgages in 2024.

The firm has seen the number of mortgage cases with at least one protection product attached double in the past 12 months. This has been attributed to the combination of economic tremors rocking consumer confidence and firms stepping up their Consumer Duty responsibilities.

Furthermore, Acre said that greater technology adoption and integrated workflows have helped it to improve efficiency, increase conversion of leads and strengthen relationships between advisors and homeowners.

It has also continued to integrate with other fintech innovators and major lenders to further improve the mortgage journey. In the past year, Acre has made key integrations with Nationwide, payments firm GoCardless, HoneyLegal and Lender Connect.

Chief executive officer and founder at Acre, Justus Brown, said: "The last 12 months have been defining for Acre. The team’s hard work in delivering an impactful technology platform that improves brokers ways of working and adds value to the service they offer homeowners and their families is receiving broad recognition from brokers, mortgage network and clubs, lenders and the broader fintech ecosystem.

"In the toughest of times when interest rates were rising and products were being pulled, Acre’s brokers were able to use our platform to work smarter in order to secure clients the best mortgage and protection deals for them within a few clicks."

Operations director at The Right Mortgage, Nicola Ventrella, added: "Making the move to a new CRM system is never easy. However, we saw how Acre’s capabilities were rooted in a refreshing, tech-driven approach that would future proof our business. It delivers a valuable time-saving and supports the delivery of positive consumer outcomes for our advisory firm members which is why Acre is now our key software, providing our advisers with one place to manage the entire mortgage journey from start to finish."

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