COVID-19 changed many personal and business banking behaviors overnight. Restaurants’ weekly deposits slowed as new mandates forced them to close bars and dine-in service. Elderly customers sheltering in place shifted their shopping habits to ordering groceries and other necessities uk phone number list online. With a platform like ProcessMaker, you can flexibly adapt your alert system to get a clear picture of how your customers are banking.
3. Employees can focus on more productive tasks
Instead of sifting through spreadsheets to compile critical data points, alerts allow employees to focus on more profit-driven activities. Whether it’s handling a customer complaint or streamlining loan applications, employees who aren’t tied to their desks and spending their time building reports are able to advance business activities that have a real impact on the bottom line.
4. Increase customer satisfaction
Congress has established various types of loans to mitigate the impact of the coronavirus on small businesses. Banks and other lending institutions have had to quickly set up new workflows to handle the influx of loan applications.
The influx of applicants put the spotlight on unprepared loan origination software, leaving many customers angry and confused. Many applications were slow to be approved because they had to go through outdated and inconvenient management processes. However, smart institutions that plugged into efficient loan origination software saw the opposite. Decision-makers received instant alerts when applications came from important customers or if an application was missing essential information. Employees could reach out to customers in real time to make updates and greenlight approvals to ensure businesses were on track to receive much-needed funding.
