Problem Statement
Determining the right mortgage terms and deciding who will service a mortgage are important decisions, so customers routinely conduct extensive research online. They will compare interest rates, mortgage (discount) points, origination fees, terms, and other mortgage parameters before deciding on who to engage with. Once customers go beyond that exploration phase into the application and processing phase, they require more help from mortgage professionals. They interact with them through a variety of communication channels including online chat, telephone, text messaging, and email. In order to create successful customer engagements, banks need to offer a seamless and personalized experience from the information gathering stage to pre-approval to application through to fulfillment, which will ultimately lead to greater mortgage account openings.
Maximizing mortgage agreements: a use case
To progress from using an online mortgage calculator to applying for pre-qualification or mortgage can be a long process. However, not engaging in this early stage could mean losing a qualified prospect to a competitor who acts more quickly and with the next-best-action. Ensuring relevant, timely, personalized messaging, and information from the nascent stages of customer exploration will ultimately lead to greater mortgage account openings. NGDATA’s Intelligent Engagement Platform allows banks to set up an intuitive mortgage to fulfillment customer journey that personalizes and coordinates communications across channels using real-time interaction management. This includes different messaging by journey stage (e.g. early interest vs. application started) with considerations for different financial and behavioral attributes.
Solution Approach
By leveraging the analytical journey capability within the platform, banks can create compelling acquisition journeys that are based on real-time customer insights. Inbound and outbound communications are combined within one journey and are optimized for the most appropriate channel at the right time. These communications are individualized by using microsegments for each experience and based on specifying context parameters they are contextual in order to ensure relevance when engaging with the customer. All relevant sources and channels plug directly into NGDATA’s Intelligent Engagement Platform to generate real-time analytics and drive real-time engagement.
