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Axis Bank UK improves DIP process as completions hit £200m

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  • 09/08/2019
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Axis Bank UK improves DIP process as completions hit £200m
Axis Bank UK has improved its decision in principle (DIP) submission system in order to provide a “quicker and simpler process” for intermediaries.

 

The lender said its online portal for keying DIP enquiries has been reconfigured and now involves four key sections – intermediary details, applicant’s details, loan details and property details.

The changes come off the back of a product refresh on 1 July that has seen the bank’s new business applications increase by over 150 per cent, which the company said is in the “tens of millions” with roughly £200m in completions.

Jason Neale, head of buy to let business at Axis Bank UK, (pictured) said: “We are aware our current submission system is not the most user friendly so we are grateful to our intermediary partners who have supported us so much since the product refresh.

“To see this level of growth in applications in such a short period suggests we are addressing the needs of modern landlords, but we are committed to providing a better customer experience as well.”

He went on to say that work had begun on a new submission system to provide a better customer experience to its intermediaries. The lender aims to have this rolled out before the end of 2019.

Neale added: “Naturally, most businesses would wait until the introduction of a new system rather than spend time, energy and money on the development of an outgoing system but it was important for us to make this investment to ensure we made it as easy as possible for our partners to submit dips within the system we currently have.”

 

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