Oper provided Fingorilla, a 100% digital mortgage broker in Austria, with the tools to set up a digital channel where borrowers and loan officers could collaborate.
Fingorilla launched during the fall of 2020 with the goal of offering a completely digital mortgage experience. As a joint venture between BAWAG PSK, the 4th largest bank in Austria, and Justimmo, a real estate CRM system, Fingorilla was expecting a huge influx of leads upon their launch and needed a way to digitally manage conversion of leads into mortgage contracts.
There are few existing options on the market, leaving firms like Fingorilla with limited options when it comes to providing digital customer experiences:
Building a solution in house is expensive and time consuming, requiring continuous maintenance and investment to develop over time.
Piecing together modules from existing vendors creates a disjointed, cumbersome process to manage and is difficult to adjust over time.
By contrast, Oper’s SaaS solutions allows Fingorilla to integrate the house-buying experience and provides a seamless customer journey to acquiring a loan. The Oper API is used to send leads from the real estate agent’s CRM system into Oper by automatically sending an invite to the borrower to start onboarding into the client portal. The borrower can then complete their application, upload documents, and sign their contract all through the digital portal.
With Oper, Fingorilla achieved:
Here’s how the process flow works for Fingorilla, and how Oper facilitates the digital customer experience:
1. Lead Generator: Oper facilitates a smooth transition from the CRM to contract stage.
The customer browses properties through JustImmo’s CRM tool and uses Fingorilla’s mortgage calculator to assess affordability. Once the borrower is ready to request a mortgage, they are sent an invitation to the self-service portal, triggered within JustImmo’s user flow.
2. Account Creation: The borrower follows an email invitation into Fingorilla and begins their loan request.
The customer clicks through the email invitation to create their account with Fingorilla. The lead information automatically populates in Oper’s self-service portal, allowing the borrower to easily begin their loan request.
3. Self-Service Application: The borrower completes their profile and requests a loan.
The customer enters their personal data and loan preferences—all the information needed to provide a decision in principle. On the back-end, Oper core captures this data and sends it to the risk-based pricing model provided by BAWAG (the lender). BAWAG’s API provides the model output, which is then used to generate the decision in principle.
4. Receive the Decision in Principle: the borrower reviews and submits their decision in principle.
The customer receives their decision in principle (DIP) in real-time, through the app. They then review the terms and submit the DIP. The borrower then proceeds to prepare for contracting by uploading proof documents.
5. Upload Documents: The borrower uses the client portal to upload proof documents.
After submitting their DIP, the customer can see which documents are needed and upload them directly through the app. Our integration with open banking also allows customers to connect bank accounts and further reduces the time spent on document upload and verification.
6. Prepare for Contracting: The customer reviews and digitally signs their mortgage contract.
Once all of the proof documents have been uploaded and verified, the borrower can then digitally sign their mortgage contract through the client portal. The borrower and loan information is shared to the core banking API of the lender, and the mortgage contract is complete.
Throughout the process, task management and automated follow-ups are coordinated through Oper’s core modules.
The broker or agent uses the Agent Portal for task management in parallel as the borrower navigates through the self-service application process. The automated task and follow-up features help to keep customers engaged and prevent drop-off throughout the mortgage process.
Finally, Oper’s flexible, cloud-based architecture integrates seamlessly into Fingorilla’s internal and 3rd party systems.