Loan Origination From The CSRs Perspective

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When considering new technology, some of the most important people to consider are the end users. Will it affect their job in a positive way? Will it make them more productive? Will it take a long period of time to train them to use the technology or is it simple to learn? Loan origination software takes very complex processes and makes them fast and easy by automating the process. This is good news for customer service representatives (CSRs). Now they can streamline their processes and cross-sell new products all while giving customers a positive experience.

Loan origination software has almost completely automated the process of reviewing applications. However, the software still allows the application to be reviewed manually if there are any stipulations that need to be resolved and then puts the application back into the system where it left off.  Working queues are created so CSRs can easily see applications that need to be reviewed. Because the process is automated, things such as birthdates and social security numbers no longer have to be verified by a person. Credit scores and alternative data can automatically be pulled by data aggregation solutions without a single click of a mouse or keystroke from a CSR.  This allows CSRs to focus their attention on the customer. It allows them to look more closely at the information the customer gives them. Where a customer might previously be denied by an overworked CSR, now there is more data and more time to review the real data and see the actual customer instead of letters and numbers.

No longer are other lines of business off-limits. New technology searches through different product lines and compares it to customer data in order to offer the customer products that are the most relevant to them at the time.  A person applying for student checking account may be interested in having their student loans all in the same location. This allows CSRs and banks to embrace a holistic view of their customers and build deeper customer relationships.

When customers feel like they come first, they are more satisfied with the service they are being provided. When CSRs offer customers more tailored product choices, consumers will be friendlier and easier to work with across all channels. Also, loan origination software can provide the CSR with a script to help make selling a product easier. When CSRs know the benefits of the products they are selling, they will be more successful and maybe even earn bonuses or rewards for high volume.  Earning rewards makes employees feel appreciated and could increase their job satisfaction and morale.

Loan origination software has been making the CSRs job increasingly more efficient. Streamlining their job processes allows them to process more applications in less time.  Loan origination software allows them offer relevant new products to customers at the point-of-interaction which increases their customer's satisfaction. With the product scripts available through loan origination, CSRs can feel more comfortable talking about the benefits of the products they are selling. This increases their competency and gets rid of uncomfortable sales pitches.

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