In a bid to speed up its loan application process, the Norwich and Peterborough Building Society has introduced an automated application system. The system offers a fully automated process directing customers straight from the application to loan administration. Norwich and Peterborough’s custom built front end automatically checks customer’s credit, with customers experiencing a faster system as they are provided with a pre-approved loan amount .
Funds are automatically released once the system has auto-approved the applications and the loan is then fully administered. Furthermore, the system is able to manage collections if customers are unable to keep up with repayments . The new system has resulted in a 65 per cent increase in successful loan applications .
Customers can apply for a loan either via telephone, online or by visiting a branch, whilst it is also possible to switch between channels during the application process.
Norwich and Peterborough Offering Quicker Loans
Norwich and Peterborough Offering Quicker Loans
Wed, 05 Dec 2007
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