Usage data from FileInvite users in 2018 shows a marked increase in the complexity and quantity of supporting documents needed to secure a loan.
Anonymised usage data from FileInvite users in 2018 shows a marked increase in the complexity and quantity of supporting documents needed to secure a loan. Read on, banks and lenders are requesting far more supporting data and evidence.
The second half of 2018 saw a 35% increase in the number of items requested per client on the FileInvite platform. On average, three or four additional items were requested of each client by our users.
Quarter 1 + Quarter 2 of 2018
7.95
Quarter 3 + Quarter 4 of 2018
10.78
Applicants provide hundreds of thousands of supporting documents every year through FileInvite. The number of requests for documents doubled in the second half of 2018 on the FileInvite platform, and statistics indicate that those requests are getting more complicated every month.
384,446
Documents requested, collated files and additional uploaded documents in FileInvite are securely stored by our document collection software.
With 91% of cyber attacks and data breaches starting with phishing emails, taking document collection out of email and into a dedicated secure document collection platform is a must.
8.8 Million
In response, FileInvite has launched a mortgage focused package to streamline the entire ‘fact find’ and discovery phase of loan applications. Adding to our secure and intuitive platform for document collection.
With ever increasing complexity of information required by lenders, bringing documents, forms and digital signatures online is a must. Brokers can now collect all of the data and documents they need from borrowers in a single secure environment, with FileInvite.
Our clients are already seeing 2 to 3 hours of time saving in every loan application. We believe that the addition of editable forms will take this even further!
Says James Sampson, CEO here at FileInvite.
The platform not only ensures that everything is far more secure than email, but it also provides a seamless digital experience for borrowers. Something they have come to expect these days.
FileInvite software is conveniently accessible by borrowers on desktop and mobile devices and can send automated reminders via email or text message to ensure deals progress.
Providing a client portal for submitting documents is a bare minimum in terms of data security. It just doesn’t cut it to send an email and expect clients to attach documents in return.
By automating the document and data collection process, brokers using FileInvite see higher conversion rates and faster turnaround times.
They’re also seeing the benefits of:
To learn more and request a demo, visit FileInvite today.
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