Santander Bank has forged a partnership with Roostify for leveraging the latter’s home lending platform to offer digital mortgage solution to customers.
The bank will use the latest lending technology to provide customer-centric mortgage and home equity loans in 40% less time.
This enables Santander to process and close loans with lesser manual touches.
Roostify’s platform delivers a streamlined loan application and execution process for both buyers and home owners.
It allows customers to submit the application online, and provides real-time status updates and alerts about outstanding action items.
As part of this partnership, Roostify is integrating its software with Santander’s loan origination system.
This allows the bank’s lending team to drive efficiency in the loan origination process by sharing information and communicating with customers.
Roostify co-founder and CEO Rajesh Bhat said: “Santander has been a great partner in driving innovation to improve their customer experience. Information exchange is a vital part of the home buying experience, and it can be a game-changer when done right.
“We are confident that this solution will provide Santander’s customers with a modern, improved way of applying for and closing a mortgage or home equity loan and deliver transparency to both the customer and lending team from start to finish, for an optimal experience.”
The latest partnership is in line with the bank’s journey towards simplifying and digitising its value proposition for customers.
In August, Santander rolled out its EZApply platform to process mortgage and home equity loan applications.
Santander Bank head of consumer and business banking Pierre Habis said: “We have received positive feedback from customers who have told us how much they appreciate the ease of uploading the required documentation through EZApply, as well as the reminders and email notifications that keep them informed on the progress of their loan throughout the entire process.”
Recently, JCB and Banco Santander expanded their partnership to support e-commerce exchange between JCB’s cardmembers and Banco Santander’s online merchant portfolio in Spain.