The problem
Bank of Queensland (BOQ), founded in 1874 and recognized for premier customer satisfaction, faced significant challenges in managing their lending workflows.
Despite having over 160 branches, BOQ struggled to maintain seamless interactions between relationship managers and clients throughout the mortgage lending process. This led to delays and inefficiencies in processing lending applications, asset management, and loan servicing.
Additionally, the lack of a unified platform for communication and document collaboration caused further complications. Relationship managers and clients often found it difficult to track the status of applications, resulting in a cumbersome experience. The need for secure and efficient communication became apparent as traditional methods were no longer sufficient to meet the demands of a modern, tech-savvy clientele.
Moreover, BOQ’s existing systems lacked automation, leading to manual, time-consuming tasks that hindered productivity. This inefficiency not only affected the bank’s operational workflow but also impacted customer satisfaction, as clients expected faster and more transparent service.
The solution
To address these challenges, BOQ implemented Moxo’s collaborative workflow software, which revolutionized their lending process.
The introduction of the Pocket Banker app, powered by Moxo, provided a digital branch that facilitated seamless interactions between relationship managers and clients. Moxo’s platform allowed BOQ to streamline communication and document collaboration.
The Pocket Banker app, encrypted with rigorous security standards, enabled clients to manage lending applications, assets, and loan servicing from anywhere at any time. With features such as secure messaging, document collaboration, digital signatures, and video conferencing, the app created a private portal for continuous client-manager connections. Clients can now confidently communicate, check the status of their applications, and complete transactions directly through the app.
Additionally, Moxo’s automation capabilities transformed BOQ’s operational efficiency. The platform automated many manual processes, reducing the time and effort required to manage lending workflows. This not only improved productivity but also enhanced the overall customer experience by providing faster and more transparent service.
The result
The streamlined communication and document collaboration features enabled faster processing of lending applications, leading to quicker turnaround times.
Clients appreciated the transparency and efficiency brought by the Pocket Banker app. The ability to communicate securely and check the status of applications in real-time enhanced their satisfaction and trust in BOQ’s services. Clients feel more connected and informed throughout the lending process.
Furthermore, the automation of manual tasks resulted in substantial time savings and increased productivity for relationship managers. This allowed them to focus on providing personalized service to clients, further enhancing the customer experience.
