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Flexible Customer Engagement
The Irish commercial bank has a long-established online
presence on the mortgage marketplace, offering top quality
services to its customers. As the company grew its
capabilities over time, it became apparent that its existing
online mortgage application required an upgrade in terms of
Facing large risks in the mortgage field, it was vital for our
client to ensure an exhaustive customer experience through
rigorous and efficient processes. The company recognised
the need for a long-term solution that would tackle the
challenges of the legacy systems and could support a multi-
brand strategy to increase direct business.
Online Integrated Mortgage Platform
Working alongside a global leader in IT consulting, iQuest
set out to build a strategic eCommerce platform for multiple
channels and brands that covers the most critical operations
in mortgage servicing.
The platform represents a strategic enterprise integration
and mortgage management system that empowers
mortgage intermediaries to enable direct customers to
create Key Fact Illustrations, and submit for them mortgage
Agreement in Principle (AIP) documents and final
applications to the bank.
The new system was designed to allow direct access to
necessary procedures and was integrated with an extensive
series of applications including external mortgage builder
applications and credit scoring systems, the bank’s existing
mortgage repository, its CRM system and a quick address
service. This complex grid of systems created a highly
responsive service delivery which led to the need for a
complete rebranding of the direct customers website.
Our client is an Irish commercial
bank. The company provides a broad
range of banking, life insurance and
financial services in Ireland and UK
to the personal, commercial,
industrial and agricultural sectors.
Acting as the main channel of interaction with the bank’s
offering, the website’s UI was fully revamped using load
balanced web servers and DB with clustered SQL servers.
Configurable end-user forms were set up in order to
automatically respond to changes in the bank’s and the
government’s mortgage policies.
Seeking to trim the long cycle times and reduce
administrative workloads, the system allows electronic
submissions of full mortgage applications. This enables
registered brokers to use the system to prepare KFI, submit
AIPs and mortgage applications. The Mortgage Platform
produces an automated online Agreement in Principle,
subsequently obtaining a report from the credit bureau used
in the AIP decision. The automated approval, or the referral
of the case to a human employee for the AIP, is determined
through rules defined by the bank credit policies. The
applications can be easily tracked by brokers as they are
Efficient Channel for Mortgage Services
The bank’s great tradition of responding to customer needs
in a genuine and reliable manner has set a framework to
how the solution was built and ultimately to its immediate
results. A high degree of transparency and constant
communication between all three parties ensured smooth
progress and delivery of this complex project.
Through the new set of functionalities, the strategic
eMortgage Management System enhanced the bank’s
profitability by attracting an increasing number of customers
with reduced acquisition costs. Faster service deployment
led to over 40,000 registered brokers and direct customers
regularly using the website, meaning 80% of intermediary
business is received and managed electronically. Brokers
benefit from immediate access to AIP and full applications,
being able to view the progress of a case online throughout
its lifecycle. They are also able to pre-populate an
application from data already collected in other legacy
systems and add new call centres and brands to the
Mortgage Trading Exchange.
The eMortgage application simplifies the management of
online forms, broker and product maintenance, reducing the
administrative workload and causing the time to offer a
formal mortgage to a customer drop from 10 to 5 days.