First launched to market in September 2012, Nedbank’s fully automated online home loan channel has enabled more than 3 000 clients to apply for finance for their homes online in a seamless and convenient manner in its first six months.
This illustrates Nedbank’s commitment to providing a distinctive client experience through a seamless online interface, enabling clients to process their entire home loan application online from start to finish.
This innovative application process has had an average turnaround time of less than four hours for credit approvals granted to homebuyers. Seven out of 10 clients that apply online get a credit approval within this greatly reduced timeframe.
“These are excellent results and, more importantly, we are delighted that this innovative online channel has become an incredible value-add for existing and new homebuyers.
“In today’s ever changing world, where clients are spoiled for choice, convenience, ease of access and security are vital. It is, therefore, important that banks continue to innovate to differentiate their offerings,” says Timothy Akinnusi, head of Sales and Client Management, Nedbank Home Loans Management.
Excellent security features are built into the channel to ensure that clients’ personal data is kept secure. As a result clients have peace of mind throughout the process.
According to Akinnusi the entire process has been extremely efficient. Clients are asked to follow a simple seven-step process, which includes providing only relevant data pertaining to personal, financial and property information. Careful efforts in this regard have resulted in the reduction of required information. Clients complete the application and electronically send the supporting documentation.
“We have received great feedback from our clients and independent analysts. We are confident that homebuyers will continue to derive real value from this channel, which enables them to do their banking anywhere and at any time. By going online, clients have more time to attend to other important engagements. We are calling on clients to make use of this great self-service banking solution,” concludes Akinnusi.
The Nedbank online home loan channel forms part of the bank’s strategy to lead in digital banking.
In 2012 Nedbank successfully launched its digital banking offering, including Approve-it, the Nedbank App Suite and MyFinancialLife, an online personal financial management tool, making it safe and easy for consumers to bank anytime, anywhere from a BlackBerry, Apple or Android device as well as a range of Nokia handsets.
This illustrates Nedbank’s commitment to providing a distinctive client experience through a seamless online interface, enabling clients to process their entire home loan application online from start to finish.
This innovative application process has had an average turnaround time of less than four hours for credit approvals granted to homebuyers. Seven out of 10 clients that apply online get a credit approval within this greatly reduced timeframe.
“These are excellent results and, more importantly, we are delighted that this innovative online channel has become an incredible value-add for existing and new homebuyers.
“In today’s ever changing world, where clients are spoiled for choice, convenience, ease of access and security are vital. It is, therefore, important that banks continue to innovate to differentiate their offerings,” says Timothy Akinnusi, head of Sales and Client Management, Nedbank Home Loans Management.
Excellent security features are built into the channel to ensure that clients’ personal data is kept secure. As a result clients have peace of mind throughout the process.
According to Akinnusi the entire process has been extremely efficient. Clients are asked to follow a simple seven-step process, which includes providing only relevant data pertaining to personal, financial and property information. Careful efforts in this regard have resulted in the reduction of required information. Clients complete the application and electronically send the supporting documentation.
“We have received great feedback from our clients and independent analysts. We are confident that homebuyers will continue to derive real value from this channel, which enables them to do their banking anywhere and at any time. By going online, clients have more time to attend to other important engagements. We are calling on clients to make use of this great self-service banking solution,” concludes Akinnusi.
The Nedbank online home loan channel forms part of the bank’s strategy to lead in digital banking.
In 2012 Nedbank successfully launched its digital banking offering, including Approve-it, the Nedbank App Suite and MyFinancialLife, an online personal financial management tool, making it safe and easy for consumers to bank anytime, anywhere from a BlackBerry, Apple or Android device as well as a range of Nokia handsets.
