Optimizing Your Customer Journey — How Are You Evolving Your Lending Experience?

August 21, 2017

Technology is constantly advancing and the necessities of yesterday become obsolete today. Just a few years ago, the concept of starting a loan application online was a novelty. Now, with auto loan demand at record levels in the US and increased demand for credit cards and mortgages in both the US and UK – it is a necessity to be competitive.

Simply making aspects of the process available over the internet is no longer good enough. The best customer experiences are tailored to preferences and deliver the right amount of guidance at the right time. A best-in-class user experience includes the following key components:

  • Provides a unified application experience across multiple channels
  • Ensures availability to the customer at a time and place of their choosing through advance scheduling tools
  • Allows for collaboration and document sharing in real-time
  • Grounds the customer on exactly where they are in the process, where they are going next and provides timely alerts when requiring additional information
  • Curates content – pushes the checklists, FAQs, video guides, etc. relevant to where the customer is in the application process
  • Makes content easier to digest through engaging visuals

Applying for a loan remains an intimidating proposition for many. The best experiences keep complexity behind the scenes. Making the experience easy and intuitive for customers will allow lenders to reap significant rewards, especially in an environment where borrower demand continues to rise.

Click to see the steps to take to optimize your customer journey.