19 September 2017
Visit http://response.ncr.com

UK banks failing customers in digital mortgage market

01 June 2017  |  7807 views  |  0 Savings house in hands

Three of the UK’s biggest mortgage providers have hit rock bottom when it comes to providing an easy-to-navigate online access point, according to research from financial experience design agency Dock9.

In a report looking at the best and worst online mortgage experiences from 19 major lenders, Santander finished bottom of the pile with Nationwide and NatWest not faring much better.

The study, which assessed the user experience across 52 individual review points and real-world testing with 50 prospective mortgage buyers, also found that over half of the sample are ignoring mobile and tablet users by failing to design websites fully suited to these devices.

The mortgage application market is viewed as a classic niche entry point for a range of new fintech startups such as MortgageGym, Trussle and Habito, who are building sleek digital intermediary platforms to take the hassle out of searching for and signing up for a mortgage online.

Mark Lusted, managing director of Dock9 says: “Although the majority of mortgage deals are done via brokers through an intermediary site, the customer experience for the end-user is still a key differentiator that can help set lenders apart from one another. With the boom of robo-mortgage advisors beginning, it’s increasingly important for established lenders to invest in technologies to improve customer experiences.”

Barclays topped the charts among the UK's big high street lenders with a 95.05% user experience score, closely followed by Lloyds (91.83%) and TSB (91.15%). In the intermediary market, supermarket chain Tesco beat out its banking peers, scoring full marks for its "simple yet delightful site full of modern UI patterns".

Lusted adds: “Barclays and Tesco have clearly invested heavily in their mortgage UX, their attention to the small detail really pays dividends to the end user and their business.”

Craig Calder, director of Barclays Mortgages comments: “We’re really proud to see that the online access and experience for our mortgage customers has been highly rated. We understand that buying and selling a home is not always straightforward, however, we want the mortgage experience to be a stress-free process. We continually invest in technology that helps to make the customer journey easier.”

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Robot heart surgeons more trusted than robot bankers

Robot heart surgeons more trusted than robot bankers

24 May 2017  |  10639 views  |  1 comments | 16 tweets | 22 linkedin
OCBC Bank launches Emma, the mortgage chatbot

OCBC Bank launches Emma, the mortgage chatbot

05 April 2017  |  12708 views  |  0 comments | 12 tweets | 21 linkedin
Is proptech the new fintech? Trussle follows Habito with £4.5 million round

Is proptech the new fintech? Trussle follows Habito with £4.5 million round

01 February 2017  |  8463 views  |  0 comments | 15 tweets | 5 linkedin
Habito secures £5.5 million investment to shake up the mortgage industry

Habito secures £5.5 million investment to shake up the mortgage industry

23 January 2017  |  6615 views  |  0 comments | 6 tweets | 5 linkedin
Atom Bank launches mobile mortgages

Atom Bank launches mobile mortgages

06 December 2016  |  8785 views  |  0 comments | 23 tweets | 23 linkedin
Halifax offers mortgage by mobile

Halifax offers mortgage by mobile

03 August 2015  |  6744 views  |  0 comments | 13 tweets | 7 linkedin
HSBC publishes mortgage account information on the internet

HSBC publishes mortgage account information on the internet

16 April 2015  |  5606 views  |  0 comments | 7 tweets | 9 linkedin
Moving from cheques to mortgages, Barclays to accept photos of customer documents

Moving from cheques to mortgages, Barclays to accept photos of customer documents

19 January 2015  |  11213 views  |  1 comments | 12 tweets | 17 linkedin
Nationwide rolls out in-branch video links for mortgage advice

Nationwide rolls out in-branch video links for mortgage advice

16 April 2014  |  5118 views  |  0 comments | 3 tweets | 7 linkedin
Post Office begins selling mortgages in branches

Post Office begins selling mortgages in branches

09 August 2012  |  5044 views  |  0 comments
Tesco launches mortgage range

Tesco launches mortgage range

06 August 2012  |  5006 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.niceactimize.comvisit www.sibos.com

Top topics

Most viewed Most shared
IBM and UBS team on blockchain payments for carsIBM and UBS team on blockchain payments fo...
10533 views comments | 18 tweets | 36 linkedin
JPMorgan Chase chief says he would fire traders dealing in bitcoin for stupidityJPMorgan Chase chief says he would fire tr...
10423 views comments | 16 tweets | 29 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
9675 views comments | 6 tweets | 17 linkedin
iPhone X gets Face ID for Apple PayiPhone X gets Face ID for Apple Pay
8853 views comments | 11 tweets | 22 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
8745 views comments | 6 tweets | 3 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job