Discover Home Loans Recognized as a Celent Model Bank 2021 Award Winner
23 Aprile 2021 - 2:00PM
Business Wire
Recognized for Operational Excellence
Response during COVID-19
For the second consecutive year, Discover Home Loans has been
named as the Celent Model Bank award winner, this time for
operational excellence during COVID-19. Celent is a global research
and advisory firm for the financial services industry. This award
honors financial institutions for excellence in using technology to
enhance the customer experience.
Discover Home Loans (DHL) quickly adjusted to the challenges the
pandemic created by enabling its employees to work remotely and
providing more digital options for borrowers to originate loans
safely and conveniently. DHL transformed its centralized operations
to decentralized remote work for 99% of its staff within two weeks.
It also accelerated planned technology and process changes to
provide alternative loan appraisal options, remote loan esigning
and virtual loan closings in applicable states. These initiatives
allowed DHL to maintain loan processing timelines in a safe,
socially-distant manner. Additionally to assist existing customers
facing COVID-related economic hardships, DHL provided loan
forbearance options. These changes helped DHL achieve high levels
of customer satisfaction while growing lending volume by 26%.
“The speed at which we delivered very complex initiatives around
COVID-19 showcased our team’s capabilities,” says Nicole Straub,
vice president and general manager of Discover Home Loans. “Our
digital operations were able to thrive due to flexible technology
despite the pandemic. We were able to observe the performance of
our business in a crisis, and we have been pleased with the strong
results.”
“This Discover Home Loans initiative shows that established
financial institutions can build an innovative end-to-end digital
mortgage origination platform as well or better than fintech
startup companies,” said Craig Focardi, senior analyst at
Celent.
Discover Home Loans offers home equity and mortgage refinance
loans from $35,000 to $200,000 with low, fixed rates and zero
origination fees. For more information on Discover Home Loans,
visit DiscoverHomeLoans.com.
About Discover
Discover Financial Services (NYSE: DFS) is a digital banking and
payment services company with one of the most trusted brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company issues the Discover card, America's cash rewards
pioneer, and offers private student loans, personal loans, home
loans, checking and savings accounts and certificates of deposit
through its banking business. It operates the Discover Global
Network comprised of Discover Network, with millions of merchant
and cash access locations; PULSE, one of the nation's leading
ATM/debit networks; and Diners Club International, a global
payments network with acceptance around the world. For more
information, visit www.discover.com/company.
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Sheetal Shah Discover 224-405-0297 sheetalshah@discover.com
@Discover_News
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