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Bath Building Society goes live with Festina

Bath Building Society has partnered with Festina Finance to transform its direct mortgage lending proposition. In the UK, Festina has been working with the Society over the last year to use artificial intelligence to help transform the way its Mortgage Consultants interview customers.

Kevin Gray, CEO at Bath Building Society, says a lack of a good front end sales system for direct mortgages sales had been a barrier to growth for the society in the past. “This was all proving to be both inefficient and frustrating and we therefore had a clear need to do something to improve this position.” Gray said.

The key behind Festina’s approach to AI has been to see it as a complementary tool when designing a business process and customer journey. The software collects information about the customer’s financial situation and asks relevant questions on their views and understanding of mortgages and the overall economic outlook.

For the Society, the system has helped it become more flexible when it comes to dealing with customers, compliance and boosting productivity, the solution was put into production in summer 2020.

“The system allows our Mortgage Consultants to conduct complete sales interviews in customers’ own homes and offices which now provides a much more professional service to our customers.” says Gray.

“The technology greatly reduces the possibility of errors in the sales process thereby enhancing compliance. The time taken to process an application has also been significantly reduced which will greatly enhance the productivity of our direct sales team and improve the customer experience at the same time.”

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