Alterna Bank has just launched its fully online secure mortgage platform, the first and so far only end-to-end digital mortgage application in Canada.
In a March 20 CNW news release, the bank announced that its lending engine released earlier this week offers “an easy-to-use, guided process that takes the stress, hassle and time out of what has previously been an arduous, confusing task for Canadians seeking financing to purchase a new home.”
The platform is specifically gear towards improving customer experience in the high-demand, high-volume Canadian mortgage sector.
“In the time it takes to get a traditional mortgage, you could lose out on three or four homes. Buyers are put through the wringer, forced to make multiple appointments, going from branch to branch to haggle for the best rate. It's nonsensical,” Alterna Bank CEO Rob Paterson said.
“Buyers should be spending their time finding the perfect home, not running around for the perfect mortgage. Our goal is to dramatically simplify what we believe to be an unnecessarily convoluted process by leveraging technology to save our customers valuable time and energy.”
Alterna officials added that the platform—which is compatible with all digital devices available in the market—features a user-friendly interface that is designed to facilitate a more streamlined process.
“After the credit decision, a customer portal helps walk the home-buyer through the steps toward funding their mortgage, including providing remote income verification,” the news release stated. “The pre-approval goes well beyond basic credit scores and uses a multitude of data sources to leverage business intelligence, ultimately ensuring the right customer gets the right mortgage.”
“Following mortgage pre-approval, the platform leverages the seamless workflow capabilities provided by Salesforce to assist the customer with step by step guidance for completing the application requirements and document exchange.”