Mortgage processing app
Accelerate your mortgage origination process and improve customer acquisition by leveraging Straatos BPM Platform that provides an omnichannel customer experience.
The mortgage processing app delivers process agility for the lender's current process requirements. It streamlines mortgage origination and customer onboarding through Straatos BPM Platform’s workflow capabilities. This enables lenders to significantly improve business productivity, eliminate operational inefficiencies, and lower costs by automating and streamlining the mortgage application process. Relevant documents, metadata, and process information captured are exported to content management repositories for easy access and to ensure regulatory compliance.
Mortgage processing app provides a unified mortgage application process platform for the digital lender. Integrations to core banking solutions, selected rating applications, or credit bureau systems are made easy with Straatos’ web service technologies (APIs). This is essential to ensure consistent ratings and check results.
Delivering a smooth customer experience for new mortgage applicants is key for digital lenders to ensure long term customer relationships and minimal dropouts. This can be achieved by ensuring that crucial touchpoints during the submission and approval are user-friendly and intuitive.
Lenders can leverage multi-channel infrastructure to support customer engagement through any digital input channels. Applicants can submit application forms and supporting documents electronically via web forms, emails, social chatbots, and mobile devices.
It is vital to keep the customers engaged and informed of the progress throughout the mortgage application process. Straatos’ multichannel communication capabilities keep applicants informed and engaged throughout the application process with mobile in-app notifications, emails, and SMS.
Delivered from Straatos BPM Platform, the mortgage processing app provides agility to lenders to meet evolving regulatory environments. Using BPMN standards and open web architecture, the app allows for quick changes on processes, business rules, routing logic, and mortgage calculations.
Through Straatos Process Monitor’s graphical dashboards and functional metrics, process owners gain insight into every mortgage application being processed in Straatos. Modifying process flows and accessing information becomes easy using the Process Designer and Process Monitor. Process owners can resolve bottlenecks by assigning application cases to another work step or user with a few clicks of the button.
Customisable web forms are available for online data entry and eligibility qualifications. This helps to eliminate data entry duplication and identify possible defaulters based on configurable rule-based backend checks and integrated external credit checks. Lenders can incorporate the ID verification capabilities in the ID verification app into the mortgage processing app to deliver quick and efficient customer onboarding and identity verification.
The mortgage processing app gives lenders, service providers, and independent software providers more control and flexibility with new digital capabilities, capabilities that improve efficiency, quality, and compliance. For example, connect or build integrations to external credit bureau systems directly into the mortgage processing app. Gain an advantage by differentiating your services from competitors by rapidly deploying innovative and customised solutions for a quicker go to market.