Mortgage Lenders maintain a relationship with a customer after they have moved in, so have a unique interest in ensuring a good experience during the purchase process. As the main source of funds for buying the property in many cases, the mortgage lender is critical to the success of the transaction. Their role in the process is also central, as they need to confirm both that the customer can afford the property, and that the property itself is sufficient security for the sum of money being requested.
Key challenges for Lenders include:
- Providing customers with information on the progress of their property transaction, beyond just the mortgage element.
- Minimising administrative costs, by keeping call volumes with third parties (such as brokers) to a minimum, and ensuring customers can self-serve where possible.
- Avoiding manual document handling and insecure email communications, ensuring efficiency and security, and minimising duplication and errors.
THE COADJUTE SOLUTION
Coadjute is digitally connecting all the key parties involved in a property transaction so they can transact without friction, faster, more securely and with greater levels of transparency.
The Coadjute Platform:
- Enables new features such as messaging with other parties, document exchange, end-to-end tracking and alerts.
- Can be integrated via APIs into your existing servicing platforms, and mobile and online banking applications.
- Is based on blockchain, and has unparallel security, privacy and scalability.
Coadjute enables a mortgage lender to:
- Improve customer experience by giving customers real-time updates of what is happening in their house purchase, and enabling a digital property experience.
- Reduce call centre and processing costs by introducing real-time tracking, and rapid, secure sharing of documents with third parties, enabling better operational planning and control.
- Increase revenues by reducing the number of property transactions that fall through due to delays in the process between parties.
- Ensure data security for you and your customers, by providing encrypted, trackable, auditable communications.
- Enable analysis and automation of the property transaction through visibility of steps and timings.
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