RBS launches paperless mortgage process

Michael Lloyd

August 16, 2018

The Royal Bank of Scotland Group (RBS) has launched the UK’s first completely paperless mortgage process, powered by Vizoution.

Available at RBS, NatWest and Ulster Bank, the latest technology, DigiDocs, which is powered by two of Vizolution’s flagship solutions, vDoc and vScreen, allows bank customers to complete their mortgage application journey digitally, wherever they are.

As a result, RBS has reduced the mortgage process for their customers by an average of 11 days, with around 5% of customers even receiving a mortgage offer within 24 hours, and the majority of the rest within 14 days.

Ian McLaughlin, managing director of home buying and ownership at RBS, said: “DigiDocs has allowed RBS to introduce a transformative, unique approach to our mortgage process.

“The rate of adoption has been outstanding and shows the appetite our customers have for digital solutions that are quicker, easier and more convenient to use.

“All those benefits combined have contributed to NatWest now holding the #1 NPS score for Apply and Set up of a mortgage.”

Historically, the mortgage application journey was a long, complex process, requiring multiple touchpoints, numerous stages of compliance, and the potential for many break points.

Using DigiDocs, bank customers can securely upload documents to the bank’s online DigiDocs portal. In addition, the bank’s mortgage agents can connect with customers remotely using Vizolution’s screen sharing technology (vScreen) to guide them through the mortgage journey.

The new paperless mortgage process has delighted customers, resulting in a Net Promoter Score (NPS) of 79 for Q1 2018. The DigiDocs portal is currently facilitating over £1bn of loans every month.

In addition, by using DigiDocs, RBS will save an estimated seven million sheets of printed paper per year, contributing to significant savings, alongside other reduced costs associated with the entirely online process.

Mortgage customers report improved convenience and ease of the new process, with one user, an army captain based overseas, stating he was able to secure a mortgage without the added cost and hassle of flying back to the UK to visit a branch.

Bill Safran, chief executive of Vizolution, said: “We are very excited by the results that RBS has generated for its customers using DigiDocs, which is powered by Vizolution’s vDoc and vScreen solutions.

“RBS has shown what is possible by a forward-thinking bank that puts the customer at the centre of their business model.

“RBS has not only streamlined the mortgage process through the elimination of paper but are also providing a better advice process to their customers through advanced screen sharing.

“The customer satisfaction score that RBS has achieved sets a new standard in the mortgage market that others will need to chase.”

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