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AI-powered client relationship management (CRM) platform Mystro, a financial technology platform owned by Fintek, remains offline and inaccessible to broker users for the third week in a row.
The CRM first went offline at the beginning of the month, with broker users reaching out to Broker Daily to flag that they had been unable to access the platform they use to automate client onboarding and document collection and handle repetitive administrative tasks.
Speaking to Broker Daily on 6 August, Mystro users voiced concerns that they had not been able to access their clients’ documents and data for loan applications in the CRM dashboard (resulting in them having to reapproach clients for this information and find alternative means of storing it securely).
Frustrations were also raised regarding the company’s apparent lack of communication on the matter, with brokers telling Broker Daily they had not received any communications from Mystro about the outage.
While a service disruption message had appeared on the Mystro website on 7 August, the entire website – including the broker dashboard – has been offline for the past week, returning a 404 error message.
According to the CEO of Mystro, Dmitry Chourpo, the problems with the website stem from “a hosting issue”.
Responding to questions from Broker Daily on Friday (14 August) about the continued outage, Chourpo said he would not go into specific details as to the problem and reiterated: “The issue is with our hosting provider and we are resolving it as we speak.”
While the CEO said he could not give brokers an exact date as to when the CRM would be accessible again, he said: “It’s going to happen very, very soon because we do understand that brokers need their data and they need to go on with their business.”
Chourpo added that, given the outage, the platform would be refunding users for the affected period and said: “We will refund for downtime. If anyone has any problems with refunds, just get in touch with me, and we’ll sort it out. “
He apologised to Mystro subscribers for the issue and told Broker Daily: “I apologise for what happened. I’m doing my best to get the system up and running as quickly as possible.
“Brokers are my highest priority,” he said and added that he had called and spoken to “a lot” of broker users to personally apologise.
The Mystro CEO flagged that he was also working on a new CRM platform, Clearpolicy, which is “effectively a revamp and new version of Mystro” with additional automation. He said that he would be offering Mystro users a 12-month free trial of Clear Policy.
Records show the Australian Securities and Investments Commission (ASIC) issued a notice on 21 July proposing to deregister Fintek. ASIC typically initiates a company’s deregistration because it has not paid its annual review fee in full for at least 12 months after the due date. However, other reasons include businesses not paying industry funding levies or ceasing operations as a business.
However, speaking of the ASIC notice, Chourpo told Broker Daily: “This has been resolved. The company will not be deregistered and will continue operations.”
[Related: Brokers left in the lurch as Mystro goes offline]
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