Online Mortgage Pre-approval Qorus Banking Innovation Awards 2022

Submitted by

Desjardins

Premium

29/09/2022 Banking Innovation

Desjardins has launched an online mortgage pre-approval solution for 2.3 million members through the secure online customer space. In less than 5 minutes, they will be preapproved for an amount and guaranteed a rate for a future mortgage, in a self-service platform, including an automated counteroffer, if required. Members can quickly access the official documents required to purchase a home.

Innovation details

Country
CanadaCategory
Reimagining the Customer ExperienceKeyword
AI & Generative AI, Mortgage

Innovation presentation

Improve the client experience by making available self-service online tools to be used whenever, wherever and on whichever online medium is preferred: • Pre-approval for an amount and 90-day rate guarantee for a future mortgage • Available in less than 5 minutes • Fully online in self-service mode • Smooth experience when transitioning to a channel other than the one where the experience started Improve member loyalty and retention by offering online solutions distinct from the competition: • Counteroffer if the amount of financing requested is deemed too high for their financial capacity and a lower amount may be automatically offered and accepted Improve Desjardins productivity: • Automate credit risk analysis • Eliminate manual file analysis and decision-making activities • Reduce calls and appointments in assisted channels (phone and physical)

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