Royal Bank of Scotland (DigiDocs) has moved its mortgage processing online in a response to customer demand, and said the mortgage procedure would shrink by an average of 11 days, with about 5% of customers receiving an offer within 24 hours. Technology from Vizolution will allow customers to upload documents to the bank’s online document sharing service RBS, launched earlier this year, and correspond with mortgage agents over a shared screen. DigiDocs said RBS was handling £1bn ($1.3bn) of loans every month and would cut seven million sheets of printed paper per year.
Royal Bank of Scotland (RBS) has moved its mortgage processing online in a response to customer demand, and said the mortgage procedure would shrink by an average of 11 days, with about 5% of customers receiving an offer within 24 hours. Technology from Vizolution will allow customers to upload documents to the bank’s online document sharing service DigiDocs, launched earlier this year, and correspond with mortgage agents over a shared screen. RBS said DigiDocs was handling £1bn ($1.3bn) of loans every month and would cut seven million sheets of printed paper per year.