Development of a web and Mobile Application to effectively capture loan prospects and convert them into borrowers.
Client Overview
Greentree Mortgage Services is a privately held loan broker in the United States that seeks to provide borrowers multiple conditional loan offers through its network of Lenders.
Problem
Our client seeks to provide borrowers multiple conditional loan offers through its network of Lenders.
Their major concerns were:
Banks across the United States seek good quality prospects that will convert as borrowers. But the current sales process does not give prominent results. Sales process usually start with generic databases of contacts, which leads to high dropout rates since most contacts don’t have a current need for a loan
Banks also lack a CRM system that can keep track of conversations and leads that the banks get through social media.
Solution
A system that can exactly pick potential prospects / the leads obtained from social media by banks that have expressed interest in loan.
Result
Development of a web and mobile application to pull the potential prospects, process the leads, and sanction loans
Business Objective
- Develop a web and mobile application which will be available to the bank’s loan officer, web app admin and the bank’s loan manager
- The application is connected to a social listening app ( Blue4’s Social Listening app ) which directs the potential leads to the loan inquiry form
- The new application functions as a CRM tool that tweet, send text message, call through browser and send emails to leads that are obtained from social media
- The gathered prospects details will be sent to lenders to process it
- If lenders criteria match with the prospects criteria, bank will process the loan
Business Solution
Insight Consultants implemented the following solution:
GreenTree will be available as cloud-based web application and a mobile application. The web application of GreenTree will be available to the bank’s loan officer, GreenTree admin and the bank’s loan manager. GreenTree will connect with Blue4’s Social Listening app to process leads that have expressed interest in a loan.
The following features are available in the software, based on the role:
The Loan Officer will be able to :
- View leads. This feature will allow the loan officers to search leads based on date range, zipcode, region, loan type, fuse, relevance.
- Assign leads to the logged in loan officer.
- Communicate with the leads based on the lead’s preferred method of communication. The available methods of communication are – calls, video calls, text, email, twitter.
- Drop leads from the bank.
- Originate a loan using CreditCore.
- Add a note with a reminder to make GreenTree remind the logged in officer about an event on a lead.
- Set sales goals on GreenTree for the logged in loan officer.
The Bank’s Manager will be able to:
- View leads. This feature will allow the manager to search leads based on date range, zipcode, region, loan type, fuse, relevance.
- Assign leads to the logged in user.
- Communicate with the leads based on the lead’s preferred method of communication. The available methods of communication are – calls, video calls, text, email, twitter.
- Originate a loan using CreditCore.
- Configure text that must be sent out by the loan officers as text, email and tweet.
- Configure follow up messages that must be sent out by the loan officers as text, email and tweet.
- View sales closures on GreenTree
- Configure subprime cut-off for the bank
- Configure the types of loans that the banks want to receive through GreenTree
The GreenTree admin will be able to
- Add banks
- Assign leads to banks
- Configure expiry date for each fuse type and for each loan types
- Configure reasons for dropping leads
- Configure expiry time for subprime leads to stay in the bank’s database.
Application functions as a CRM tool that tweet, send text message, call through browser and send emails to leads that are obtained from social media. The gathered prospects details will be sent to lenders to process it. If lenders criteria match with the prospects criteria, bank will process the loan.
Result
Successful in implementing a web and mobile application which effectively converts (leads that obtained from social media app) quality prospects to borrowers.
