Receives Award for U.K.'s First Paperless Mortgage Application Process Implemented by Royal Bank of Scotland (RBS)
BOSTON, June 3, 2019 /PRNewswire/ - Vizolution, a global Customer Experience software company that expanded its operations to North America in 2018, has been recognized in the U.S. for creating the first completely paperless mortgage application process in the U.K. on behalf of the Royal Bank of Scotland (RBS). Vizolution was named a product innovation award winner at the Customer Experience Professionals Association (CXPA) Annual Insight Exchange held in Salt Lake City, Utah on May 15th.
The CX Innovation Award attracts competition from around the world and recognizes new and innovative processes that improve customer experience. The deployment of Vizolution's industry-leading software with RBS has streamlined mortgage applications, shortening the application on average by 11 days per customer, eliminating more than 7 million documents annually, enabling RBS to process £18 billion (U.S. $23B) in mortgage transactions in 2018, while generating an impressive customer loyalty score of 79 NPS (Net Promoter Score).
"We're delighted to be recognized by the CXPA for our solution that helps banks better meet customer needs and increase business conversion rates," said Bill Safran, CEO of Vizolution. "RBS has shown what is possible by a forward-thinking bank that puts the customer at the center of their business model. The success experienced by RBS underscores the immense opportunity for U.S. banks to adopt digital solutions to strengthen their engagement with customers."
Building on its success in the U.K. and Europe, Vizolution announced its entry into North America in 2018. Vizolution works with major financial services, insurance and telecom companies to reduce transaction times, increase sales conversions, and significantly improve customer satisfaction.
The RBS paperless mortgage application process, which is completed on its DigiDocs platform, is powered by Vizolution's screensharing technology vScreen, and document management platform vDoc. The innovative solution eliminates traditional pain points in the application process such as mail delays, document processing, verification of ID and compliance issues, and makes call center and bank branch staff more effective. It also enables customers to upload, download, and sign documentation remotely during phone, web, or branch interactions.
"We are very proud that we offer the U.K.'s only fully paperless end to end mortgage application process, and we know that customers love it. Partnering with Vizolution has been pivotal for its success, and we look forward to continue to work together to create innovations that put the customer first," said Ian McLaughlin, Managing Director, Home Buying and Ownership at Royal Bank of Scotland.
Vizolution is a market-leading technology company that helps enterprises replicate the qualities of face-to-face interactions through their remote channels, streamlining their complex journeys into effortless customer experiences. Our patented SaaS solutions are used by over 30 global enterprises from the financial services, telecoms and utilities industries, including HSBC, Santander, RBS and O2 (Telefonica). For more information visit http://www.vizolution.com/.