Digital Experience for Borrowers and Lenders
Lending communications for the Modern Consumer
Generations that grew up in the digital age represent an increasing share of borrowers. Customers desire real-time access and the ability to communicate with their banks and lenders in real-time, when they want, via the channel they prefer, and in the language and tone they choose. Whether in print or via online customer portal, email or SMS, lending correspondence is the most critical component of the lending customer experience.
This movement towards a 24×7, always-on ability to communicate with customers how they want, when they want, and where they want creates opportunities for lenders to differentiate themselves in the realm of digital experience and customer communication. Borrowers apply for loans and mortgages through online forms when it is convenient for them, from the device or devices available at the time. They update account information, check account balances and payment amounts, review statements, and leverage analytic tools to investigate the impact of different payment schedules all from within a single lending correspondence solution. These technological and generational changes require a new approach to the lending customer experience.
Banks and mortgage providers greet these challenges with Ecrion’s lending correspondence software. Ecrion provides digital experience solutions that enable loan application, account servicing, and personalized communications at scale. Dynamic correspondence and interactive analytics empower borrowers with self-service capabilities, lower call-center expenses and improving customer satisfaction. Statements and collections letters delivered via the borrower’s preferred channel improves the overall lending customer experience while lowering both print and postal costs.
Create interactive statements and online analytics that empower consumers to investigate their spending and savings habits. Design sorting, filtering and other analytic features directly into statements delivered electronically. Generate documents in all media (print, PDF, email, etc.) with compelling graphs, charts and tables that facilitate self-service, reduce call center costs and build customer engagement.
Onboard New Borrowers
Employ online forms to capture loan application information from both the customer and internal staff. Assemble personalized welcome kits with loan documents, payoff schedules and customized promotional materials—and distribute via the customer’s preferred mode (print, electronic). Establish pre-defined touchpoints for new borrowers and monitor their journey to reduce friction and identify potential cross-sell opportunities.
Regulatory and Brand Compliance
Establish review and approval workflows for document templates, thereby guaranteeing proper oversight and compliance with corporate branding standards and regulatory requirements. Automate transactional review and approve processes for lending correspondence to achieve corporate and regulatory compliance at an individual document level. Collaborate with both internal and external partners throughout the communication lifecycle.
Produce accurate and engaging statements and related loan correspondence for customers. Send lending correspondence in the language, mode (print or electronic), tone, and even template selected by each individual borrower. Aggregate multiple product-line statements into a single communication for improved customer experience and reduced operational costs. Provide clarity by embedding customized statement walk-throughs for each consumer.
Upgraded Digital Experience
Leverage digital forms to capture input from the borrower’s device of choice. Enable account creation and servicing 24×7 in the language and tone selected by each customer. Adopt electronic signature technology to improve the lending customer experience. Empower borrowers with self-service capabilities and analytics. Support consumers whenever they want, wherever they want, and however they want.
Ecrion Enables Stronger Customer Connections
Financial institutions worldwide leverage lending correspondence software by Ecrion to enhance their lending customer experience, reduce operating costs, and control the inherent risks associated with high volume and on-demand customer communication. Thousands of companies across a broad range of industries use Ecrion software to ensure compliance with corporate branding and regulatory standards while establishing genuine connections with their customers—one at a time.