Construction financing: Overcoming media disruptions and reducing costs

Digitization has revolutionized the banking industry and opens up traditional mortgage processes to optimization and innovation, which increases efficiency and save costs. Shorter processing times and faster financing commitments improve service quality, increase customer satisfaction and contribute to greater sustainability by reducing manual and paper-based processes.

In today's world, it is imperative for banks to remain competitive by embracing innovative technologies and providing contemporary services to their customers. The digitization of the mortgage process offers banks the opportunity to stand out from competitors and strengthen their position in the market. However, the positive customer experience often ends with the credit decision, at which point many banks still rely on analogue and manual processes. Customers perceive this disruption in the process negatively.

This is where the BaufiServiceApp comes in by focusing on the process of disbursement, management and renewal, thus enabling the digital transformation of the entire lending business.

The estimated cost savings for banks

By using the BaufiServiceApp, banks can save considerable costs at least 150 euros per loan transaction. These savings come from the reduced manual work and the elimination of media discontinuities. With a larger number of financing transactions, this saving quickly adds up to considerable amounts.

The future of digital construction financing

The BaufiServiceApp is just one example of the multitude of digital solutions that will shape the future of construction financing. By continuing to invest in innovative technologies and exploiting the other benefits described, banks can also increase customer satisfaction and establish themselves as leading players in the digital finance industry in the long term.

About Sopra Financial Technology: The BaufiServiceApp is developed and provided by Sopra Financial Technology. As part of the Sopra Steria Group, a leading IT partner in Europe, SFT helps financial service providers focus on business, growth and the future by taking care of excellent IT.