Digital mortgage product keeps non-bank lender at the cutting edge

Digital is more crucial than ever in the mortgage industry, with brokers and customers expecting sophisticated self-service capabilities. Our client had recently created a universal customer portal to provide online access to their customers across their entire product portfolio and compete with nimble fintechs and big banks.

However, the company’s existing mortgage application process was conducted via its call centre. When handling home loan calls, the lender’s representatives would need to complete PDF forms, Excel spreadsheets and submit paperwork for manual data entry. Frustratingly slow, inefficient and error-prone, this approach was hampering their growth strategy. The organisation knew that to succeed in a competitive market, it must quickly digitise and accelerate its home loan application process.

Building on their successful universal customer portal, the lender turned to PhoenixDX once again - this time to deliver a digital mortgage product that would transform the home loan experience from the ground up.

In just nine months, the team launched a fully digital self-service solution that allows customers to apply for and manage their home loans online, anytime, from mobile or web. Customers can save their progress and return at any stage, upload supporting documents securely, and connect with a company representative by phone or appointment if they need assistance along the way.

For brokers, a flagship product selector makes it possible to identify the right home loan product, interest rate, and fees for a client in under two minutes - a powerful tool that streamlines the advice and application process at the front end.