Chase announced on Thursday it’s launching a digital mortgage platform, allowing customers to track a loan application through closing entirely online or from any mobile device.
Chase is adding its name to a growing list of mortgage lenders going digital, as the housing industry steps up its game to meet the needs of consumers.
Kelly Adkisson, managing director for Accenture's Credit Consulting Practice in North America, noted in an interview at the end of last year, that the pace of technology in the industry is faster than it's ever been.
Adkisson explained that Quicken Loans’ Rocket Mortgage really pushed the technology innovation conversation to another level and forced companies to start doing something on the digital side.
In collaboration with Roostify, a mortgage technology provider, the new Chase digital platform was created to improve the customer experience through mobile accessibility, digital updates, eSign capabilities, and direct interactions with Chase mortgage professionals.
“We and Chase have a shared vision to bring a straightforward, more transparent mortgage experience to more consumers than ever before,” said Rajesh Bhat, CEO of Roostify. “We are very excited to partner with Chase as they look to help customers with one of life’s most important purchases.”
According to the announcement, Chase plans to launch the technology later this year, creating a simpler, faster, and more transparent home financing experience for consumers.
“Digital technology is reshaping the mortgage industry and is rapidly influencing how consumers make purchases today,” said Mike Weinbach, CEO of Chase Mortgage. “This platform will allow us to be where more of our customers are, which is online and on their phones, while still offering the option to work with us in person if they prefer.”
Weinbach stated in a note sent to employees that the “new digital offering is a big moment for our business and more importantly for our customers. We’re incredibly proud of the work that’s been done to date and look forward to updating you on our progress throughout the year.”
