As lenders continue to compete for lucrative consumers in the post-COVID era, improving the mortgage experience has emerged as a top priority for many of them. The important ingredients to gaining market share in the loan industry today are quick and fast mortgage approvals, clear and uncomplicated procedures, flexible, creative products, and digital capabilities.
Our latest report represents the key research findings and acts as a barometer to measure current needs as well as provide insight on how to optimise lending for the future.
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Our findings cover key stages of the mortgage lending process including:
Current lending lifecycle challenges
Examining internal user journeys, it’s clear that poor automation and lack of end-to-end workflows are holding lenders back.
Existing product set-up processes
Lenders seeking to diversify with more inclusive services are being slowed down by back-end inflexibility and lengthy product set-up.
The user experience
Lenders need to support online account opening with no signatures and automate payments and validate ID online, so that customers can transact easily and without barriers.
Impact of next generation cloud lending platforms
Current systems are simply not able to deliver the levels of innovation and functionality that today’s mortgage buyers expect.
Customers who have unlocked the foundations for growth on Mambu:
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