Improved Customer Experience for Mortgage Lender

Not all customers who embark on a relationship with the client by applying for a refinance mortgage loan, complete the process. Regardless of reason, when customers do not complete the mortgage process, it is incredibly costly from an operational and time standpoint. Our client sought to understand how elements of the current customer experience may be contributing to this fall out– whether due to the account being cancelled or withdrawn – and implement strategies to improve it.

Sutherland hosted the client in our innovation labs to conduct a journey mapping exercise to understand why customers cancel or withdraw their loans in the mortgage process. The client was joined by a team of unbiased design researchers, a team of mortgage bankers, and process experts from Sutherland for expert guidance on assessing the customer experience. Following a journey mapping session, Sutherland conducted field research by interviewing 12 customers to understand the root causes oF why they cancelled or withdrew their loans. The interviews provided much insight into challenges in the customer experience including communication barriers, financial struggles, logistical challenges in the mortgage process, and more.