BOK Financial, a top-25 regional financial services company, has implemented a partnership with Roostify, a digital lending platform, to give customers more control of their home buying process while allowing loan officers to utilize the latest technology to more easily process loans.
The new digital platform is a tool that offers functionality and efficiency to customers including:
Customers can start an application, provide documentation and follow their loan’s progress online
Applicants have a secure way to upload, send, and receive loan documents.
Homebuyers can add other involved parties to transaction, such as the real estate agent.
Users don’t have to guess where they are in the process – they will receive timely loan status updates.
For BOK Financial’s loan officers, this means less time spent processing paper documents or in repeat phone calls, and more time to work on actually moving loans forward. Loan officers like John Yancey are benefiting from the partnership.
“This is a big help in my day-to-day work,” said Mr. Yancey. “With my buyers submitting their documents online, I am able to get the loan into processing much faster and keep it moving forward more easily, particularly if the buyer’s information comes in electronically verified as accurate.”
“The technology investment complements BOK Financial’s increase in purchase loan production across the company’s eight-state retail footprint as well as the consumer direct channel over the past year,” said BOK Financial mortgage president Glenn Brunker. “The bank is leveraging Roostify’s dynamic technology to deliver a unique offering to both the employee and customer in the different markets and channels. This will affirm our commitment to the implementation of a streamlined digital experience for our customers.
“With Roostify, our loan officers have access to the best technology on the market to do their jobs more efficiently than ever, while offering a great experience to our customers.”
BOK Financial joins several other prominent lenders in leading the transition to a digital-first home buying process, reflecting a larger industry trend towards Internet-based mortgage experiences.
“The home lending industry is evolving and embracing new technology that today’s consumer demands – an online experience with complete transparency,” said Rajesh Bhat, CEO and co-founder of Roostify. “This gives BOK Financial’s loan officers the opportunity to better manage an already complicated task of juggling financial documents and progress notifications between multiple parties. Home buyers benefit from a better experience from application to closing.”
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