Thursday, June 9, 2011
Issues in Online distribution channel for home loans Part.II
Its conquest remains a challenge because it disrupts people's attitudes. The relative complexity of mortgage lending has ruled for a time of digital distribution. Banks still mostly stick to a limited use of the web channel as a simple contact tool prospect, with some simulation tools and online advice. Involved, many documents to provide, the importance of the intermediation of an adviser, the number of players entering the game (underwriters, notaries, ...), the risks of fraud, loss of opportunity for contact client and therefore cross-selling.
The lifting of legal constraints: a condition indispensable not for customer relationship management 100% remote
The law on the protection of the borrower and governing the loan offer and the terms for conclusion of the contract, still imposes a relationship postcard (postmarked authentic) between the client and the bank to the steps of sending the offer to the customer and acceptance by the latter. But it lacks little for a relationship 100% distance and electronic submission is possible until the funding request by the client.
Indeed, while the tools necessary to assemble the financing plan online (sophisticated simulators, engine stand for regulated loans, scoring tools for pre-agreement ...) are now available online, building a complete application for funding still faces barriers to taking legal recognition of electronic documents, and simply the fact that they are still uncommon. But dematerialization at source is a proof of evolution programmed, evidenced by the development of bills or bank statements electronic or upcoming launch of the NIEC (National Identity Card Electronics). Devices associated with electronic safes, these documents dematerialized at the source will forward copies of the disappearance, the latter often requiring agency passages, many manipulations and visual controls, with a controlled level of risk months.
Finally, we can assume that the law limiting Scrivener to date the complete dematerialization chain soften granting the benefit of such electronic signature, recognized for over ten years as having the same value as a handwritten signature.