CBA flags expanded home loan tech

Adam Croucher, general manager of third-party banking at CBA has revealed new developments in the group’s home loan technology, aimed to “make it easier” for brokers to conduct business with the group.

This month, CBA will launch a new digital identity verification process that will replace the current manual checks.

Mr Croucher told Mortgage Business that the solution will be enhanced later in the year, with more information able to be shared.

“We continue to optimise the use of digital data available via different platforms and sources, reducing the amount of paper documents used to assess a customer’s home loan application, resulting in a customer experience that is fast and convenient,” he said.

The bank will also expand its digital signatures capability to all Australian customers.

DigiDocs, which was introduced at the start of the pandemic to allow customers to receive, sign and return documents electronically, is currently available across NSW, Victoria and South Australia (where home loans were allowed to be executed digitally).

CBA is currently piloting an expanded DigiDocs solution in Western Australia and will be launching the tool to all states and territories at the end of March.

The bank also recently launched its Third Party Banking Training Hub, after it received feedback from brokers who wanted more support.

“The new Training Hub’s workshops and resources will focus on topics we receive lots of questions on as well as new initiatives and policy changes,” Mr Croucher said.

“Our new Training Hub is designed to equip brokers with the knowledge and support to be able to provide an even better experience for their customers.”

According to Mr Croucher, the group’s investments in its operations over the last year, have seen the proportion of new loans via the broker channel rise from 44 per cent in June 2021 to nearly 50 per cent.

[Related: ANZ appoints customer fairness adviser]