HSBC’s innovative use of Vizolution’s vDoc customer document portal to improve their mortgage process has won the 2017 award for Collaborative Innovation at the Mortgage Finance Gazette awards
Alex Noble from Vizolution and Jason Jeffrey from HSBC collected the award from MFG editor Jo Atkin.
HSBC analysed their current mortgage processes and identified that if customers could provide the bank with the essential information prior to their mortgage appointment, then the whole mortgage process could be significantly streamlined.
To securely manage the upload of the essential customer documents, HSBC chose Vizolution’s vDoc and used this as the basis of their new eDocs solution. The result is an innovative, Omni-channel customer portal that allows customers to securely upload, download and if necessary sign documentation. The system also has integrated workflow functionality to manage customer cases which automatically sends periodic customised email and SMS prompts to customers to maximise customer completions.
When customers contact the bank to discuss a mortgage application, a mortgage advisor provides a link to the eDocs mortgage portal. Using this portal, customers can then securely upload the required documents, check they have scanned correctly and ensure they are attached to their mortgage case – and do all this remotely before they meet with their Mortgage and Protection Manager in branch.
Jason Jeffrey, Senior Programme Manager | Channel Optimisation | Retail Banking and Wealth Management | HSBC BANK PLC said, “Getting a mortgage approved in less than 24 hours can make all the difference in helping house hunters achieve their goals more quickly which is why we introduced the eDocs solution. The service has been so popular that it is now available across the entire branch network, as well as over the phone. In many cases where customers are able to provide all the necessary documents for a case to be approved locally, it will result in both a one stage mortgage appointment and one day approval.”
Bill Safran, CEO of Vizolution said, “It has been great working with the team at HSBC to help them deliver a streamlined customer journey with their eDocs system. Customers are rightly keen to avoid any delays in the mortgage process and by giving them the power to progress the case at a time of their choosing by submitting the required documents online really puts the power back in their hands. The feedback and results have been immediate and significant with a dramatic reduction in failed or repeat appointments where the customer turned up but without enough documentation to proceed.”