RAMS Home Loans will process all home loan applications electronically in a move expected to streamline and speed up the process.
The new paperless process will automatically index all documents relating to a loan application without the need for manual intervention.
Tony MacRae, head of operations at Rams says the change will allow for a better loan application process and will improve processing efficiency. It's hoped to improve approval wait times and offer consumers a better experience.
“We anticipate that the introduction of paperless processing will not only minimise the amount of time spent locating files and retrieving information but will critically lead to an improvement in conversion rates.”
RAMS hopes the new system will reduce the equivalent of 105 tonnes of CO2, and reduce distribution and storage needs considerably.
Testing of the new system has taken place and is hoped to increase the number of automated pre-approvals.
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