The mortgage industry needs to catch up … digitally
In the mortgage industry, many providers seem to have missed the digital wave and aren’t yet offering the range of communication channels that customers have access to from other financial service providers. Customer satisfaction with lenders is declining and unhappy customers ultimately mean a decline in earnings.
Read on to get a view on how this sector is addressing customer retention … digitally.
A research report by BI Intelligence that delves into the significant issues plaguing the mortgage process and investigates why mortgage providers can no longer ignore them. The report also discusses the way fintechs are leading innovation in this space, looks at current efforts by mortgage lenders and addresses the barriers to significant change in the mortgage industry.
- Publisher: Business Insider
- Access: Article is public. Full report requires membership or purchase
Consumer service expectations are being heightened, as more financial service providers switch to efficient digital processes. This means that many industries are now being subjected to digital disruption and this is no different for mortgage. A study by Velocify surveyed 500 mortgage borrowers to understand what led them to select their current lender, as well to determine what type of communication they prefer throughout their mortgage journey. This study is worth the download, especially for mortgage lenders wanting to learn how to adapt to and meet the expectations of their current borrower market.
- Publisher: Velocify
- Access: Registration required
- Download: PDF – 1.6MB
The mortgage industry is yet to embrace the digital revolution, but based on feedback from the digital mortgage conference in San Francisco last year, it is catching up! If you weren’t able to attend this conference, but want to know what the highlights were, then be sure to read this great summary.
- Publisher: Canadian Mortgage Trends
- Access: Public
- Download: None