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Dramatic rise in digital-only mortgage applications

SDC + Signicat = a collaboration that started a couple of years ago, enabling the SDC-banks to offer digital signing of documents to their customers. Signicat’s digital signing solution – Sign – has removed the need for customers to visit their branch to complete a mortgage application. All this is now completed digitally — creating a process that is both fast and convenient dramatically enhancing the customer experience.

Now it is announced that 83 % of SDC's Danish financial institutions' customers' mortgage applications are processed wholly digitally. The fully digital process for application, approval and signing has reduced the time to complete the mortgage process from weeks to days — and sometimes, in markets where consumers have an electronic identity (eID), mere hours.

- Applying for a mortgage can be one of the most challenging and stressful processes people face. We wanted to make it as frictionless as possible, 
says Nikolai Andersen, Head of R&D Digitalization at SDC. The collaboration with Signicat has created a truly digital-only process and the numbers speak for themselves. Adoption and critically conversion of applications using eSignatures is skyrocketing, especially in markets with eID schemes that accelerate the process. We look forward to exploring other ways our bank customers can benefit from eID schemes in relevant markets, he concludes.


SDC’s digital signing solution uses local eID schemes to verify identity. The eID schemes used are Bank ID in Norway and Sweden, and NemID in Denmark, mapping SDC’s footprint.

 

Read the full article at Signicat's webpage

Signing documents digital with Signicat's solution, Sign, at SDC.