Overcoming the Challenges of Providing Customer Support for Mortgage Lenders

Published by Merryl Dusaran on April 8, 2020

Customer support contributes to the successful transactions of a mortgage firm. They help the client understand by answering the questions that are too difficult for the clients to comprehend. After all, what is a business without customer support?

Customers prefer a mortgage company with customer support that they can get a hold whenever they have a question. A study shows that 63% of the customers would switch mortgage services for better customer service.

A team of customer support representatives assists the borrowers and prepares them for the application process. They answer client questions such as mortgage payments and rates. They ensure that the entire process is clear on the side of the customers. That the customers understand the breakdown of their mortgage payments, the term of the loan and when their payments are due. It is important for borrowers to have a clear knowledge about the process to avoid misunderstandings and complications in the future.

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overcoming challenges of customer support for mortgage lenders

Overcoming the Challenges of Providing Customer Support for Mortgage Lenders

Customer support contributes to the successful transactions of a mortgage firm. They help the client understand by answering the questions that are too difficult for the clients to comprehend. After all, what is a business without customer support?

Customers prefer a mortgage company with customer support that they can get a hold whenever they have a question. A study shows that 63% of the customers would switch mortgage services for better customer service.

A team of customer support representatives assists the borrowers and prepares them for the application process. They answer client questions such as mortgage payments and rates. They ensure that the entire process is clear on the side of the customers. That the customers understand the breakdown of their mortgage payments, the term of the loan and when their payments are due. It is important for borrowers to have a clear knowledge about the process to avoid misunderstandings and complications in the future.

Why Lenders and Insurers Shouldn't Fully Rely on Digital KYC Checks

Why Lenders and Insurers Shouldn’t Fully Rely on Digital KYC Checks

Lending and insurance firms comply with KYC and AML rules to prevent fraud and money laundering. They collect customer data, analyze and verify it. They need to know who a customer is, their economic background, and if it’s legal to do business with them. For them to conform with regulatory bodies, they welcome Artificial Intelligence (AI) into their business. With AI’s ability, they can rapidly evaluate the worthiness of the borrower’s credit and mitigate risk cost-effectively.

Why Bankers Should Integrate Advanced KYC Protocols with Human Intervention

Why Bankers Should Integrate Advanced KYC Protocols with Human Intervention

Banks and financial institutions are always trying to keep up with the regulatory environment as it rapidly advances together with technology development. Know Your Customer (KYC), and compliance with Anti-Money Laundering (AML) remains their main focus to improve the onboarding process for secure and swift transactions. Especially with an increasing competitive customer-driven market, advance KYC solutions should be integrated into their human-oriented customer service activities to stay on track.

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