CoreLogic has announced its latest property tech innovation: Property Hub 2.0, a platform designed for the banking industry to deliver to changing consumer expectations and a heightened need for internal transparency.
The innovation digitises the mortgage approval process, transforming it from an reactive interaction into a seamless and personalised journey for applicants - whilst delivering new levels of transparency and efficiency for brokers and lenders too.
Property Hub 2.0 is being rolled out over New Zealand and Australia in the coming months, providing an intuitive online platform for lenders and brokers to access the industry’s best property and market insight, giving them more meaningful and insightful tools to support their customers. It also supports brokers with a marketplace of lenders from which to order and track all valuations.
PropertyHub 2.0 combines with a new suite of valuation fulfilment capabilities (ValConnect) and with a significant pipeline of investment in innovation and partnerships through 2019, is set to transform the way lenders and brokers interact with their customers.
Tim Jenner, CoreLogic GM Banking Platforms comments: “Every property owner (or prospective property owner) has an insatiable appetite for property and market information: constantly digesting and scrutinising market dynamics and property interactions. And as consumers become more digitally savvy, there’s been a significant shift in consumer expectations of what service should look like - especially with regards to transparency and engagement. There’s less patience for traditional transactional interactions; instead a desire for a seamless and personalised customer journey.”
“The experience of becoming a home-owner is no exception. The ‘old’ way of applying for a home loan was purely a ‘reactive transactional’ interaction and thankfully, new tech means those days can now be relegated to history.”
“Helping customers navigate where to buy, what to buy, and how to buy (in line with what they can afford, their lifestyle and investment objectives) has a direct correlation to customer satisfaction and it should be absolutely no surprise that brokers and lenders who leverage property data in a meaningful way for their customers have been shown to convert loans at high rates than those that don’t. In fact, a control group of brokers delivered a 15% increase in conversion. Transparency delivers confidence and comfort and the data tells that story in black and white”.
Creating a seamless process for ordering and tracking valuations and other property services required as part of the application process also delivers new levels of efficiency and insight for the lenders and brokers.