Ambak’s Digital Platform Empowering Home Loan Distributors Nationwide
Gurgaon (Haryana) [India] September 7: In a bold move to transform the home loan approval process, Ambak has launched a new platform feature designed to improve the user experience and operational efficiency for home loan agents.
According to their findings, the traditional home loan process can take up to 45 days, with customers and loan agents shuttling between multiple financers, at times leaving them unaware of many formalities and paperwork involved, leading to confusion and rejection of home loans.
The platform’s new feature was integrated to address such customer pain points by leveraging a proprietary Bank Rule Engine technology to provide greater transparency, real-time updates and faster loan processing time for its users.
Ambak uses digital integrations for credit score checks and has an in-depth understanding of each financier's criteria to ensure a more accurate match between customers and financiers.
“We believe this feature sets a new standard for efficiency and transparency in the home loan sector. Our goal is to simplify the process for everyone involved, reducing operational costs for financiers and improving the overall experience for customers,” said Raghuveer Malik, Co-Founder & CEO of Ambak.
This launch marks a significant milestone in Ambak's mission to become the leading home loan aggregator in the industry. Ongoing improvements and continuous collaborations with top banks and financial institutions are planned to offer even greater value to users.
The new update, designed to address key market needs such as lack of transparency, high turnaround times, and unclear commission structures, has significantly improved user experience and operational efficiency for home loan agents.
“By transforming this experience, we aim to reduce the operational costs for financiers by ensuring only relevant files are processed. This improvement in efficiency can lead to an 80-90% first-time approval rate, enhancing customer satisfaction and optimizing the unit economics from a financier's perspective. Once we connect customers to the right financier, we use both technology and our team to follow up with banks, provide updated status, and ensure the loan disbursement is completed quickly,” Mr Malik concluded.
Summary: Ambak has launched a new platform feature to transform the home loan approval process. The update uses proprietary Bank Rule Engine integrated with other tools to provide greater value to its users. This launch marks a significant milestone in Ambak's mission to become the leading home loan aggregator in the industry.
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