Research by IG&H shows that potential mortgage applicants (and their advisors) no longer only look at the price, but also the mortgage process and their customer experience. Different age groups have varying requests and expectations as well.
“Needs are changing, which confirms the need to take this into account in the organization, processes, and IT.” Chris van Winden, director of banking at IG&H.
Serving a wide range of customer demands is not easy for mortgage organizations at the moment. Market participants currently experience few consequences of this, but that may change if an existing or new competitor seizes this opportunity. Those active in the mortgage market often struggle with complex systems and processes that are not easy to adapt. This lack of flexibility and distraction by short-term goals reduces the attention available for customers.
Being inflexible also decreases sales, hinders a convenient overview and the compliance of the organization. By contrast, Agile organizations continuously respond to customer wishes and compliance…even in advance.
To anticipate hurdles, participants must be proactive. Each organization faces different bottlenecks. These may be operations or process-related, for instance. In our whitepaper, we provide some quick questions to help identify these bottlenecks. If you can't answer a question with a resounding “yes,” then there is still room for improvement.