The rise of mobile was one of the hottest trends in 2017 and it has carried over into every transaction the consumer engages in. With mobile now making up two-thirds of a consumer’s digital media time, the chances of interacting with a borrower through their mobile device is much more likely than through their desktop computer.
The nation’s largest lenders are shedding branches, in part because today’s borrowers aren’t as likely to walk into a branch to sign a loan application. Some are handling those interactions online or with the help of a call center representative.
This means if your brand isn’t accessible to prospective borrowers on their mobile devices, they are not likely to see it at all. This will put a lender at a severe competitive disadvantage.
Getting to mobile affordably
The problem for many lenders is that the technology required to extend their current platforms into the mobile space is expensive. And it’s not just about technology development and deployment, it’s also about data security.
With evolving regulatory requirements, an increasing number of data breaches and the need for an engaging and easy-to-use mobile experience, the cost for some lenders can be too high.
Fortunately, lenders don’t necessarily have to be fully digital to provide the mobile experience today’s borrowers crave. With the right eSignature solution, lenders can extend their brand to the mobile space easily and affordably.
The answer for lending mobility
One of the first meaningful interactions with the borrower that can easily take place in the mobile space is the delivery and execution of electronic mortgage documents like upfront disclosures.
With the right mortgage eSignature solution, borrowers can have an intuitive, easy-to-use eSign experience that also gives lenders an auditable platform with the industry’s most trusted eVault. Mortgage technology solutions that provide eSign capabilities give users a quick and easy way to sign loan documents whether it’s from their computers, smartphones or tablets. Additionally, eSign solutions that have tight integration with a dynamic document engine create a seamless workflow for generating, delivering and signing loan documents electronically.
Making the first interactions with your borrower professional, easy and rewarding is the surest way to keep them.. Going fully electronic is the wave of the future and lenders are urged to seek out technologies that will allow them to offer a digital experience to their borrowers. Going mobile is an important step in that process.