Loan Market expands paperless technology use

According to the brokerage, since its launch, over 21,000 packs have been sent to customers within the Loan Market network, each containing a digital booklet that profiles the broker, as well as information on what the customer can expect out of the experience, and informative guides.

Loan Market has also launched its own eSign tool, which improves efficiencies by reducing the need for physical signatures.

Loan Market chief customer experience officer Jason Furnell said the new digital processes work together in an attempt to reduce the physical waste and consumption of Loan Market brokers, adding: “[The Hello Pack] immediately positions the broker as a digital broker. It clearly outlines the expectations from the relationship and, at the same time, it bolsters the profile of the broker through personalisation.

“Incorporating Online Fact Find within the Hello Pack kickstarts the process, allowing customers to upload their financial information directly into the broker’s MyCRM platform from the very beginning of the relationship – they can start whenever they’d like, all from their smartphone. 

“That’s a professional customer experience that really does set the tone for the rest of the financial journey.”

Mr Furnell added that 38 per cent of the brokerage group now uses the eSign app to streamline contract processes.

“Online signatures aren’t new, but what we’ve done with eSign is house it within MyCRM,” he said.

“Brokers can tailor the forms in the system before sending, and the returned documents go straight into MyCRM. That’s an enormous saving in tedious paperwork, eliminates any chance of misplaced forms, and frees up staff to focus on more productive activities.”

The Hello Pack and eSign capabilities are the latest digital tools released by Loan Market, as it aims to help brokers become paperless. 

[Related: Non-major bank consolidates lending process]