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How Salesforce is re-inventing the Mortgage experience

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Posted on Sep 16, 2020
by Himanshu Chate ( Sr. Manager Business Development)

How Salesforce is re-inventing the Mortgage experience

The Lending and Mortgage industry has been moving down the path of automating both customer-facing applications and internal processes for the past several years. However, Corona virus forced remote working for many people, which has emphasized the value of digitization and further accelerated the move to start-to-finish e-mortgages and e-loans for many businesses.

The experience of applying for a mortgage/loan is prepared for a sea change. The process is known for an abundance of paperwork that can change with cloud-based technology that simplifies the process of filling in, uploading and downloading forms. Digitizing this process is especially urgent as the industry gets ready for the rise of millennials.

Salesforce CRM , can play an important role in streamlining the process of unification of the experience e for borrowers, lenders and partners. This comprises of loan applications to streamline and accelerate the mortgage process, simplify document tracking and approvals, and a more complete relationships with each borrower.Integration with Salesforce to automate loan and mortgage process can help businesses with:

·       Automating underwriting processes – By harnessing the power of Salesforce, organizations can make real time decisions based on the aggregated data, operationalize any risk-models in minutes and use Salesforce to automate underwriting.

·       Create a lending process – With a 360-degree view of your customers, Salesforce unifies your entire lending business through a single platform, giving borrowers, lenders, brokers, underwriters, and every member of your team a transparent view of the lending process.

·       End-to-end compliance – Aggregated data fetched from internal and external systems can be made available to a compliance interface built within Salesforce.

·       Customized offering to the right customers – Combining Salesforce with a credit decisioning system allows businesses to collate the data they need by connected siloed data. So, you can take a consumer centric approach instead of product centric one.

·       Pre-approved offers for existing customers – In addition to providing a customer focused offer, integrating Salesforce with a loan decisioning solution allows a business to preapprove customers for specific offers. This confirms that you only promote offers that are fit for the customer and improve the application process.

Aress has experience of working with lending and mortgage businesses to automate complex analytics and decisioning processes for credit and loan applications from within the Salesforce environment. Get in touch with one of our experts to know more.

Category: Salesforce

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