The Ultimate Digital Mortgage Experience
The Ultimate Digital Mortgage Experience

HOW QUALITANCE RE-INVENTED THE MORTGAGE EXPERIENCE FOR BCR ERSTE CUSTOMERS

Context

Mortgage is rated as one of the top 3 most stressful moments in the lifetime of 80% of the western civilization population. BCR – part of the ERSTE group – challenged QUALITANCE to break the paradigm of time-consuming, paper-heavy mortgage and turn it into a magical experience for buyers and bank employees alike.

Challenge

We committed to transforming the mortgage experience into a smooth, transparent digital journey that would delight customers and relieve them from wasting precious time and energy.

Our mission was complex and challenging: we wanted to simplify the mortgage loan process for both customers and bank employees, but also for notaries and sellers. All this while designing a scalable modern architecture that integrated seamlessly with the core banking systems.

Solution

We built a web and mobile mortgage platform that helps bank customers and employees save time and enjoy transparency, predictability, and convenience.

The project took off with a product design phase including rapid prototyping sessions, design sprints, grooming, and demos. This approach helped us advance to the development phase with a user-validated prototype – the core of our MVP.

We accelerated the creation of the BCR/ERSTE mortgage experience by building on top of our Paperless Service platform – reusing technology, design, and UX assets.

Results

We built the MVP in 10 weeks and the fully scalable product in less than 6 months.

We reduced the average time of the mortgage loan approval by more than 25%. The average customer bank visits dropped from 10 to 4. Two months after the GA release, the platform prides on thousands of active users, zero defects, and no downtime.

While the average SUS score is 68, the BCR/ERSTE mortgage experience received an 81.9 SUS score – ranking as Excellent. Additionally, this usability study ranked our application in Top 25% of its scores.

Technologies

iOS (Swift), Android (Kotlin), Java & Spring Boot microservices, Angular 6, CI/CD, Websockets, REST, Oracle DB.

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For more info and guidance, you can always contact our Industry Expert Alex Pavel at alex.pavel@qualitance.com