1. Making it easy for customers
to do business with you
Improving the customer journey in consumer loans
The four key operational areas that deliver the
greatest return from automation in cosumer loans:
Feedback from the industry:
Benefits seen by real customers:
Allow
customers
to submit
documents
digitally
Automate
sophisticated
background
checks
Automatically
generate
customised
paperwork,
signed by
e-signature
Identify
fail points
and
improve
Up to
90%
cost
reduction
Faster
and
increased
onboarding of
new financial
product
applications
Better
insight
and
risk
analysis
60%of personal loan
applications are
made on mobile
70%of applications abandoned
as soon as ID or proof of
address required
#1priority is enabling
e-signature to improve
customer journey
80%of applicants have to
submit bank
statements (P2P
lender)
£396average lost profit for
a single abandoned
applicant
Days to Mins
Document submission
and review reduced
from days to minutes
5 to 12
Reduced customer
onboarding from
5 days to 12 minutes
13 to 4
Reduced home loan
approval from 13 days
to 4 days
Want to learn more?
twitter.com/Kofax
linkedin.com/company/Kofax
facebook.com/Kofax.inc www.kofax.com