These days, about 66 percent of companies now compete on customer experience alone, a marked change from even just a few years ago. MOQ client Mortgage Choice found themselves to be no exception.
They found a need to trim down the manual processes of collecting, recollecting, verifying, and retrieving information so that their agents could focus on what was most important – paying attention to their customers in person and on the phone to help them navigate the mortgage process.
Moving from legacy infrastructure to the cloud is a journey
The proliferation of manual processes is a common problem for financial institutions. In some banks, customer onboarding can take up to six weeks due to slow and redundant customer onboarding processes, and almost 80 percent of banks have lost customers to faster competitors with a digital-first strategy. Unfortunately for the wider banking industry, many firms have been slow to adopt the cloud. Only 26 percent of banks have adopted a robust cloud strategy. This means doing more than moving applications to the cloud – it means measuring KPIs related to cloud implementation and then refining them based on feedback. More importantly it means the first step is to consider modernising your technology stack to take advantage. Mortgage Choice realised that they couldn’t just move directly to the cloud – they needed a partner who would help them start the journey by first modernizing their applications in preparation.
Accomplishing a successful application modernisation with MOQdigital
MOQdigital worked with Mortgage Choice to create a modernised application that would help preserve and improve their unique customer-focused business offering. As a result, they ended up with a system that could pre-match customers to a tailored mortgage product based on their desires – resulting in a 30 percent increase in productivity, an increase in customer satisfaction, and two major service awards for Mortgage Choice brokers.
Do you want your company to work faster and smarter? If so, MOQdigital is the partner you need.