BOSTON and SAN FRANCISCO, Sept.
24, 2020 /PRNewswire/ -- Santander Bank today announced
that it is partnering with Roostify on its digital home lending
platform to provide a more convenient way for customers to apply
for the Bank's home lending services. The faster and easier-to-use
digital solution enables Santander to process and close loans more
efficiently with fewer manual touches, and is yet another step in
the Bank's journey toward simplification, digitization, and
transforming its value proposition for customers.
The platform offers a streamlined loan application and
fulfillment process for home buyers and owners during a purchase or
refinance. Customers are able to submit a loan request online,
share documents digitally and securely and receive real-time status
updates, including outstanding action items, from application
through to closing. Roostify's software integrates within
Santander's loan origination system allowing the Bank's lending
team to more easily transfer information and communicate more
effectively with customers, driving quality and efficiency in the
loan origination process.
"This new lending platform, which we've branded EZApply,
is just that – easy to use," said Pierre
Habis, Head of Consumer and Business Banking at Santander
Bank. "We want to simplify banking, and digitizing our mortgage and
home equity process streamlines the whole lending flow and helps us
customize how we engage with our customers based on their specific
needs. We have received positive feedback from customers who have
told us how much they appreciate the ease of uploading the required
documentation through EZApply, as well as the reminders and email
notifications that keep them informed on the progress of their loan
throughout the entire process."
Since launching the EZApply platform in August, Santander has
seen a significant decrease in the amount of time it takes to
process mortgage and home equity loan applications.
- Nearly half the time to approve loan documents
- Nearly 40 percent faster to fund mortgage loans, from the time
the application is submitted until it is funded
- Home Equity Lines of Credit are approved in approximately 40
percent less time than traditional methods
"Santander has been a great partner in driving innovation to
improve their customer experience," said Rajesh Bhat, CEO and Co-Founder of Roostify.
"Information exchange is a vital part of the home buying
experience, and it can be a game-changer when done right. We're
confident that this solution will provide Santander's customers
with a modern, improved way of applying for and closing a mortgage
or home equity loan and deliver transparency to both the customer
and lending team from start to finish, for an optimal
experience."
Mouro Capital, Banco Santander's $400
million fintech venture fund, invests in Roostify.
About Santander
Santander Bank, N.A. is
one of the country's largest retail and commercial banks with
$89.5 billion in assets. With its
corporate offices in Boston, the
Bank's 9,100 employees, 575 branches, more than 2,000 ATMs and more
than 2.1 million customers are principally located in Massachusetts, New
Hampshire, Connecticut,
Rhode Island, New York, New
Jersey, Pennsylvania and
Delaware. The Bank is a
wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN)
- one of the most respected banking groups in the world with more
than 146 million customers in the U.S., Europe, and Latin
America. It is overseen by Santander Holdings USA, Inc., Banco Santander's intermediate
holding company in the U.S. For more information on Santander Bank,
please visit www.santanderbank.com.
About Roostify
Founded by consumers looking for a
better way to buy a home, Roostify leads the industry in delivering
accelerated and transparent digital lending experiences, processing
nearly $35 billion a month in loans.
From enterprise banks to independent mortgage lenders, lenders
across the United States rely on
Roostify to speed up closings, reduce risk and unnecessary work,
and improve their customers' lending experience. The company's
highly secure, future-proof lending platform is trusted by some of
the world's largest lenders. For more information, please visit
www.roostify.com or follow them on social media at
LinkedIn or Twitter @Roostify.
Contacts: Alyson Austin
Roostify
949-403-0484
alyson@gaffneyaustin.com
Nancy Orlando
Santander Bank
617-449-8830
nancy.orlando@santander.us
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SOURCE Santander Bank, N.A.