WEBINAR Digitally Transforming Your Mortgage Business And Driving Sales

2. WEBINARDigitally Transforming Your Mortgage Business And Driving Sales Alyson Clarke, Principal Analyst @alysonmclarke June 17, 2015. Call in at 12:55 p.m. Eastern time

3. Agenda • Why mortgage businesses need a digital transformation • How best practice lenders are digitally transforming their mortgage business and driving sales • What should eBusiness and mortgage executives do to start the digital transformation of their mortgage business?

4. Agenda • Why mortgage businesses need a digital transformation • How best practice lenders are digitally transforming their mortgage business and driving sales • What should eBusiness and mortgage executives do to start the digital transformation of their mortgage business?

5. Outdated mortgage process and legacy systems have driven the customer experience for too long.

6. Technology is now affecting every aspect of our lives

7. Mobility accelerates the trend . . . *Source: Forrester Research World Smartphone Adoption Forecast, 2012 To 2017 (Global) and Forrester Research World Tablet Adoption Forecast, 2013 To 2018 (Global)

8. . . . and fuels increasingly demanding expectations Base: 4,404 US online adults (18+) who use a smartphone; Source: Forrester’s US Mobile Mind Shift Online Survey, Q3 2013

9. Using Digital To Empower Employees Alyson Clarke | Principal Analyst Digital businesses continuously exploit digital technologies to both create new sources of value for customers and increase operational agility in service of customers. November 13, 2014

10. Agenda • Why mortgage businesses need a digital transformation • How best practice lenders are digitally transforming their mortgage business and driving sales • What should eBusiness and mortgage executives do to start the digital transformation of their mortgage business?

11. Best practice lenders are using digital to support prospects during the mortgage purchase journey

12. Discover phase: Help customers discover and fulfill their needs

13. The customer’s purchase journey starts well before they contact a lender.

14. How best practice firms help customers in the discover phase Connect with prospects early on, and stay connected. Help people get to the content they need fast. Engage prospects with educational content and calculators.

15. Chase’s app helps customers find their new home, and embeds calculators

16. Scotiabank.com’s Dream Home Finder also helps customers find their new home

17. Commonwealth Bank takes home search to a new level with augmented reality Source: December 22, 2011, “Case Study: Home Buying With Mobile Augmented Reality” Forrester report

18. USAA provides a one-stop shop for all mortgage-related needs

19. USAA helps educate customers well before they need a mortgage

20. Raiffeisen Bank International’s customers can select interests to determine content displayed on the secure site

21. Zillow shows refinancers how they can save money over time

22. Union Bank & Trust lets consumers compare their mortgage to their peers’

23. Chase helps customers get to mortgage calculators fast from their homepage

24. Wells Fargo educates home buyers with an interactive guide to homeownership

25. NatWest’s educational videos can be filtered by type of buyer

26. Explore phase: Make it easy for customers to find the right product

27. Help customers find the right product and get a personalized recommendation.

28. How best practice firms help customers in the explore phase Help people find the right mortgage and drive their path to purchase. Make it easy and valuable for prospects to get human assistance.

29. Quicken Loans lets customers compare mortgage options — highlighting key benefits

30. Citi’s selector tool allows users to input info and save the results

31. Citi shows prospects personalized options and moves toward next steps to apply

32. LendingTree embeds ratings and reviews throughout its site

33. Quicken Loans paths prospects by their home buying goal and includes a strong call too

34. US Bank proactively invites customers to chat during prequalification

35. Nationwide launched Remote Advisor to reduce waiting time for mortgage advisors • Nationwide uses Cisco’s Remote Expert Smart Solution to connect customers in branches with remote mortgage advisors. Results: • Boosted mortgage sales performance by 66% • Improved customer net satisfaction by 70% • Cut costs of sales by 66% Source: Nationwide Building Society (http://www.nationwide.co.uk/) and Cisco (http://www.cisco.com/)

36. Empower employees with digital tools to help engage customers and convert sales Standard Chartered’s “iNeeds” tool helps staff engage customers and convert sales.

37. Buy phase: Let customers apply in the channel that is most convenient to them

38. The mortgage application and closing process should be convenient.

39. How best practice firms help customers in the buy phase The pre-approval process is fast and easy. Applications and closing should be paperless across touchpoints. Customer’s expectations are set before and after they apply. It’s easy to reach human help. Take a needs-based approach to cross-selling.

40. ABN AMRO helps customers applying online by embedding calculators into the application form

41. Kiwibank in NZ lets prospects get pre-approved in minutes

42. US Bank proactively invites customers to chat during prequalification

43. US Bank proactively offers assistance for incomplete applications

44. Paperless mortgage applications and closings will become the norm

45. Applications and closing should be completely paperless across touchpoints Signature Mortgage's paperless process lets applications be processed in one to two days (compared to seven to 10 days previously) and closings take less than 25 days (compared with the industry average of 45 to 60 days). • The benefits : • Reducing data entry errors • Speed up applications and closings • Lets customers apply through any touchpoint Source: Silanis and Signature Mortgages

46. Quicken Loans’ mobile app lets customers easily track the progress of their application Source: QuickenLoans MyQL app

47. Agenda • Why mortgage businesses need a digital transformation • How best practice lenders are digitally transforming their mortgage business and driving sales • What should eBusiness and mortgage executives do to start the digital transformation of their mortgage business?

48. Banks need to digitally transform their mortgage business.

49. Start by supporting prospects with digital across touchpoints • Map the customer journey for each type of mortgage buyer. • Break down the journey and focus on improving each stage. • Weave human and digital together across touchpoints. • Ensure that strong multichannel sales processes exist. • Identify adjacent needs and develop digital content that could cater to them. • Begin developing your strategy for the next generation of digital lending.

50. Selected Forrester Research February 23, 2015, “Best Practices In Mortgage Sales” February 23, 2015, “How US Consumers Research And Buy Mortgages” November 25, 2014, “The Future Of The Branch Lies In Digitally Empowering Employees”