At its recent digital PD day, a major bank provided the more than 4,500 viewers an update on the digital enhancements being made to its residential and commercial broker propositions.
In the coming months, eligible NAB customers across the country will be able to digitally sign their home lending documentation with the eSign feature powered by DocuSign. The capability was rolled out first in Victoria from 29 June, followed by New South Wales from today, 6 July.
“While it’s fair to say the current operating environment has accelerated its launch, the introduction of end-to-end mortgages has always been the next natural evolution of our strategy,” said Steve Kane, NAB general manager of broker distribution.
“As the bank behind brokers, NAB will continue to invest in improving the lending journey for brokers and their customers, in a streamlined and supported way.”
The provision is timely as a recent survey conducted by NAB revealed that timeframes and lending criteria are brokers’ most pressing concerns for the next 12 months, with nearly 40% of respondents naming one of the two topics as top of their list.
The survey of over 1,800 brokers also revealed concern over slow economic recovery (23%), the ability to stay across changing regulatory and education requirements (20%) and being able to grow or maintain their client base in the aftermath of COVID-19 (19%).
According to Kane, the findings highlight that brokers are more focused on the customer relationship than ever before.
“There’s no doubt today’s complex environment has created more immediate challenges for the broking industry, beyond the usual legislative and regulatory developments,” he said.
“[But] even with everything happening in the world right now, the primary concern for brokers at this time remains focused squarely on how they can best service their customers and achieve the best outcomes.”
As acknowledged at every level within the industry in recent months, Kane reiterated the current climate is leading brokers to find innovative ways to service and connect with their customers.
“Time and time again, we’ve shown how flexible and adaptable our industry can be,” he said.
“Innovative brokers are realising that the highest levels of customer service and efficiency come from being digitally connected. Similarly, consumers are also fast becoming more open and confident with technology as they adapt to new ways of life.
“Of course, change will continue to be an ongoing theme. Yet, I believe the heart of the broker value proposition will endure, with a strong focus on delivering the best possible customer outcomes and adapting to doing business digitally.”