Finance, Custom Software

Loan Estimate Solution

INVID developed a custom system for FirstBank to estimate mortgage loans quickly and securely, boosting sales by 30% and improving lead follow-up and reporting.

Loan Estimate Solution

INVID developed a custom system for FirstBank to estimate mortgage loans quickly and securely, boosting sales by 30% and improving lead follow-up and reporting.

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Project info

  • Service: Custom Software
  • Industry: Finance
  • Location: San Juan, PR

 Summary

The solution enables loan officers to provide accurate loan estimates via electronic forms while storing data securely for reports and follow-ups. This centralized approach resulted in a 30% increase in sales, faster client response times, and improved internal coordination.

The Story

FirstBank, one of the leading financial institutions in Puerto Rico, manages a high volume of mortgage loan requests daily. Known for its commitment to customer service and innovation, FirstBank sought a more agile and accurate way to support potential homeowners through the early stages of the loan application process.

To enhance operational efficiency and customer experience, FirstBank partnered with INVID to develop a Mortgage Lead Management System, a custom software solution designed to optimize how loan officers handle client preliminary inquiries.

The Problem

The bank’s previous system for managing mortgage leads was highly decentralized, involving multiple processes and manual questionnaires. Mortgage agents struggled to track and follow up on cases efficiently, leading to delays and inconsistencies in service delivery.

  • What FirstBank needed was a centralized, secure solution to:
  • Provide prospective clients with an immediate and accurate loan estimate before initiating a formal application.
  • Reduce unnecessary credit checks that could impact the client’s score.
  • Enable sales and support teams to generate reports and project employee workload more effectively.

This called for a digital transformation of the loan estimation process that could support the bank’s internal teams while delivering a better experience to future borrowers.

The Results

After a deep dive into FirstBank’s workflows and technology stack, INVID developed a Mortgage Lead Management System tailored to the institution’s needs. Built using ASP.NET and SQL Server, the platform integrates seamlessly with FirstBank’s existing technologies.

The solution allows loan officers to:

  • Fill out digital forms with a prospective client’s information.
  • Instantly calculate an estimated loan amount and interest rate.
  • Store all inputs in a secure and centralized database for reporting and follow-ups.

This secure system became a powerful tool for lead tracking, marketing, and cross-selling. Employees gained access to dynamic reports that offered insights into submission volumes, client needs, and document flow. Additionally, the tool served as a valuable referral and follow-up system, helping loan officers build trust with potential borrowers and convert more leads.

The Story

FirstBank, one of the leading financial institutions in Puerto Rico, manages a high volume of mortgage loan requests daily. Known for its commitment to customer service and innovation, FirstBank sought a more agile and accurate way to support potential homeowners through the early stages of the loan application process.

To enhance operational efficiency and customer experience, FirstBank partnered with INVID to develop a Mortgage Lead Management System, a custom software solution designed to optimize how loan officers handle client preliminary inquiries.

The Problem

The bank’s previous system for managing mortgage leads was highly decentralized, involving multiple processes and manual questionnaires. Mortgage agents struggled to track and follow up on cases efficiently, leading to delays and inconsistencies in service delivery.

What FirstBank needed was a centralized, secure solution to:

  • Provide prospective clients with an immediate and accurate loan estimate before initiating a formal application.
  • Reduce unnecessary credit checks that could impact the client’s score.
  • Enable sales and support teams to generate reports and project employee workload more effectively.

This called for a digital transformation of the loan estimation process that could support the bank’s internal teams while delivering a better experience to future borrowers.

The Results

After a deep dive into FirstBank’s workflows and technology stack, INVID developed a Mortgage Lead Management System tailored to the institution’s needs. Built using ASP.NET and SQL Server, the platform integrates seamlessly with FirstBank’s existing technologies.

The solution allows loan officers to:

  • Fill out digital forms with a prospective client’s information.
  • Instantly calculate an estimated loan amount and interest rate.
  • Store all inputs in a secure and centralized database for reporting and follow-ups.

This secure system became a powerful tool for lead tracking, marketing, and cross-selling. Employees gained access to dynamic reports that offered insights into submission volumes, client needs, and document flow. Additionally, the tool served as a valuable referral and follow-up system, helping loan officers build trust with potential borrowers and convert more leads.

0%
Increase in sales
0%
Centralized lead tracking
0%
Reduction in follow-up
0%
Increase in sales
0%
Centralized lead tracking
0%
Reduction in follow-up

After analyzing three company presentations, we selected INVID because they presented the most thorough strategy to fulfill our needs. INVID provided ideas not considered initially, which helped us integrate additional client information for a better analysis during the evaluation of the mortgage transaction.

FirstBank, Mortgage MIS Supervisor