Monmouthshire Building Society rapidly dispatches mortgage document offers with RPA & Intelligent Automation

Homebuyers in England and Wales have long depended on Monmouthshire Building Society to deliver quality mortgage products and financial services. The Society is committed to improving operational efficiency and moving away from legacy processes that can put a damper on members’ experiences. With this in mind, they brought in a Blue Prism digital worker to automate mortgage related tasks from setting up applications to dispatching final-offer paperwork.

Challenge

Once homebuyers find their dream home, they’re often ready to put the wheels in motion to purchase the home. But before they can do that, they need to secure funding for their mortgage. It’s a multi-step process that culminates with dispatching the mortgage offer and final paperwork. To complete the paperwork, colleagues must maneuver through several different systems and merge documents together in the appropriate order. Additionally, each mortgage scenario has different rules relating to what information can be sent and to whom — potentially leading to unintended errors and confusion. With offer volumes growing, it’s more difficult for colleagues to complete the manual and time-consuming work.

Solution

A Blue Prism digital worker now collates and distributes mortgage offers for the Society. It searches for offers and adds new ones to its queue. Next, the digital worker creates the offer paperwork to send to the homebuyer, performs any necessary checks, and dispatches it. During the dispatching process, the digital worker saves multiple documents in separate files for the solicitor, the broker and the homebuyer. Lastly, it sends an email to the interested parties, letting them know they can view the offer.

Once a time-consuming, repetitive and error-prone process for staff, now the documentation is accurately filed with all key parties. Homebuyers receive their mortgage offer swiftly, enabling them to close on the property and move into their new home. And when homebuyers or brokers come back and request additional valuations, the underwriters or associates can access the files quickly and easily.