St. George bank has launched a market-first electronic home loan delivery service, which will significantly reduce turnaround times for brokers.
Launched today, the e-Delivery service will give brokers the option of selecting that all finalised loan documents be delivered electronically rather than through the post — saving time and money. Clive Kirkpatrick, St. George’s general manager of mortgage broking told Australian Broker
that it will shave days off turnaround times.
“The main savings in time are through not having to post documents. On average, we think that will save about four days in turnaround time.
“What that means is not only can we now get an answer to brokers quicker through the improvements in our back office but we also have the documents prepared and out to the broker for the customer to sign at least four days earlier. It is a massive benefit to ensure that the customer is off the market.”
The market-first e-Delivery system will also integrate everything into one simple user interface, says Kirkpatrick, increasing efficiency for brokers.
“We will be first to market in this format. There are others who deliver electronic documents but none actually do through the ‘apply online’ environment. Why that is important is because brokers won't need to move outside one environment — now their applications, supporting documents, serviceability calculators and loan offer documents will be in one environment so they don't have to switch between systems,” he told Australian Broker
“We designed it with brokers in mind, ensuring they stayed within their own eco-system to make it much simpler. Basically everything resides in the same user interface so there is no need to be flipping between different applications.
“It has also been designed with the ability to be accessible to more people, such as a broker’s administration staff. It will make the whole process a lot quicker and a lot easier from a broker’s perspective.”