CBA to vamp up loan system
(8 April 2010 – Australia) The Commonwealth Bank of Australia has said it has plans to re-vamp its loan processing system, to enable customers to track the status of their loan applications online.
Ross McEwan, CBA’s head of retail banking said, speaking from an industry conference, that while CBA has managed to lift its loan processing times since the beginning of the global downturn, the bank still had long a way to go.
CBA previously had the worst cross-sell rates, mediocre efficiency, and the bank watched its mortgage share slide year after year. Since the bank set targets in all of these areas it is now about 50 percent on the way on that journey, Mr McEwan added.
Mr McEwan said the bank was committed to improving its servicing times in any way possible in a bid to become the leader in customer satisfaction.
Mr McEwan said that the bank plans to have the new system up and running within the new three years.
CBA previously had the worst cross-sell rates, mediocre efficiency, and the bank watched its mortgage share slide year after year. Since the bank set targets in all of these areas it is now about 50 percent on the way on that journey, Mr McEwan added.
Mr McEwan said the bank was committed to improving its servicing times in any way possible in a bid to become the leader in customer satisfaction.
Mr McEwan said that the bank plans to have the new system up and running within the new three years.
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