Home > News Updates > ICBC News
ICBC Launches Direct Connection Service for Mortgage Business System
 

On March 23, ICBC held a signing ceremony in Shenzhen with Country Garden, Vanke, Evergrande, Lianjia, 5i5j and other mortgage loan cooperation partners, and officially launched the direct connection service for mortgage loan bank-enterprise systems. The service is reported as ICBC’s major step for upgrading the mortgage service model relying on fintech. It will speed up the transformation of mortgage loan services from traditional offline model to online model, effectively improve the business operation efficiency, cut costs for enterprises, customers and banks as well as social costs, and provide better experience for customers.

Gu Shu, President of ICBC, said that the direct connection of systems is an important measure for ICBC to improve service efficiency and optimize customer experience. It will expedite the evolution of mortgage services to be more mobilized, flexible and intelligent, and help solve problems as traditional offline mortgage loan services go wrong, thus saving customers’ time and cutting the high cost of repeated data entry. At the same time, a “B+BtoC” service model will be created through the organic integration of financial and non-financial services to achieve the outcome of “bank-enterprise cooperation brings convenience to customers”. On the part of enterprises, they can predict whether or not a purchaser can get mortgage loans, keep up with the progress of the approval of the mortgage loans, and save communication costs. On the part of banks, it can improve the efficiency of information acquisition, cut labor costs, and enhance fund allocation efficiency. As to customers, they do not need to repeatedly submit information, and can know in advance the loan pre-approval results, which can improve the efficiency of the mortgage business.

According to reports, through the direct connection of systems, the developer or intermediary can help customers to initiate loan application through its own online system while the customer selects or purchases an apartment. And all application and electronic information will be simultaneously transferred to the ICBC system. In addition, developers, intermediaries and customers can immediately calculate the possibility of loan approval and track the progress of loan approval online through the “one-click for pre-approval” function, which greatly improves the transparency, interactivity and efficiency of the mortgage business.

ICBC, by sticking to the principle of “houses are for living in, not for speculation”, has been strictly implementing the macro regulation policies on the property sector to meet the reasonable funding needs of enterprises and individuals and to promote the stable and healthy development of the real estate market. In 2017, ICBC carried out in-depth reform of its personal credit business system, and comprehensively upgraded its products, policies, procedures, teams, systems, channels, risk control and organization structures, to accelerate market response and service efficiency, lower social costs, and improve customer experience.


(2018-04-08)
Close