The COVID-19 pandemic has modified plenty of issues within the lending market, and in some methods, has counterintuitively made doing enterprise simpler.
Learn extra: Shifting the stability
Smartline Hills District franchise proprietor Leah Nugent and Mortgage Alternative Penshurst franchise proprietor George Boustani spoke about the primary know-how modifications of their enterprise over the previous 12 months.
“As horrible as COVID is, I believe it has revolutionised the interplay between the mortgage author and the shopper,” Boustani mentioned. “The expertise is now much better. It has been a blessing in disguise, there is not any doubt about that.”
Boustani mentioned it was nearly unfathomable that two years in the past, purchasers couldn’t signal mortgage paperwork electronically, however lenders and aggregators made it occur throughout the pandemic.
“The Mortgage Alternative Dealer Platform additionally permits us to provide our purchasers a portal to add their paperwork, that means they don’t must photocopy or print or electronic mail,” he mentioned.
The change has improved the dealer expertise, making the processes extra time-efficient, appointments faster, and compliance simpler with extra automation to report shopper interactions, Boustani mentioned.
Nugent agreed. In 2019, conferences typically tended to tug, however due to the introduction of Zoom and different video conferencing apps within the office, brokers can now maintain complete shopper conferences in lower than 40 minutes.
Applied sciences akin to DocuSign, which Nugent couldn’t think about doing with out, has not solely allowed enterprise to be carried out remotely, it additionally considerably diminished paperwork and saved time. The diminished carbon emissions and saved timber are an added bonus.
“The banks for years mentioned, ‘we can’t probably do that – there’s an excessive amount of threat’, and the second that COVID hit, abruptly we had been in a position to do that,” Nugent mentioned.
