For many people, applying for a loan can feel a bit nerve-racking. That’s why, over the past few months, we’ve been working on ways to make it all a bit easier.
Several weeks ago, we introduced ‘soft’ credit searches across all our loan products. This removes the risk of damage to your credit file if you aren’t accepted, taking away lots of the uncertainty around applying.
But members have also been telling us that they’d like more up-to-date information about the status of their loan application itself, and, most importantly, when the money is likely to be ready.
It makes sense. Whether you or loan is to replace the car or to book a holiday, it’s good to have some idea of when you’ll be able to use the money you are hoping to borrow. It can also be reassuring to know that everything is progressing smoothly, what to expect next and to know that we’re not waiting on you for anything which could cause delays.
Over lock-down, many of us became used to nifty tools such as ‘Dom’, the Dominos Pizza Tracker, or similar order tracking features on our favourite apps. It’s hard not to get a tinge of excitement seeing the status change to ‘out for delivery’, or watching your order wind its way around the neighbourhood towards your front door.
So several months ago, our team, inspired, set to work on a similar tool to remove the stress of waiting for your loan to be processed.
Our Loan Status Tracker
Our new tracker, launching today, will let you know in real-time:
- What stage in the process your loan application is at
- When it’s currently expected to be completed
- Whether we’re currently waiting on you to do anything
Using the new Tracker is simple. There’s nothing to log into and no need for fiddly passwords. Simply, you’ll receive a link to the Tracker in the email we send you after submitting your application. We’ll also text you each day with a link.
The Tracker updates in real-time as your application moves through the system. That way, you’ll know as soon as we do, and you can be sure of always getting the latest information without the need to call or email.
It’s just one of the ways we’re working to listen to our members and to make banking with us hassle-free.
Now then—anyone up for pizza?