Sept. 13, 2004


Comments

 
 
 
  • What the article doesn’t address is the impact caused by many online customers that are merely shopping and only start an application to see what is available or to research rates without actually completing the application.
    Anonymous
     
     
     
  • CUs should look at the opportunity to enhance both their membership as well as loan application process into a seemless, unified process that is in real time allowing members to even go as far as funding the account according to their business rules. This would eliminate any re-keying on the Credit Union end cutting operating cost as well as taking the information and storing it in an admin tool for audit and compliance purposes. Credit unions could also use the admin tool to re contact all of the incoplete application that were submitted partially done and creating another marketing tool for credit unions to get other products in front of new and existing members.
    Anonymous
     
     
     
  • We can completely validate your findings. Prior to using your sponsors’ (LoansPQ) lending platform we encountered many of these same challenges. We now offer our members a very slick, interactive lending channel that gets them in & out with a decision in under 2minutes without compromising essential lending information. We have received very high marks from them as a result! These days the internet makes it all about: ease, convenience, and “Instant Gratification.”
    Anonymous
     
     
     
  • I am searching for a possible industry average for the % of internet applications that receive instant approvals but never make it to the closing table due to inaction on the applicant's part. Is there any info you can provide?
    Anonymous