How the pandemic is driving innovations
Covid-19 is forcing many businesses still able to trade to adapt at breakneck speed. With a strong desire to keep lending, but BAU as we know it impossible, UTB has adapted and implemented in a matter of days what previously may have taken months. By applying technology, ingenuity and tenacity to overcome a challenge, we are not just ‘managing’, we are improving. In fact, much of what we’ve changed to overcome this crisis we’ll keep when social distancing becomes a thing of the past.
Our investment in technology and Fintech solutions has been pivotal in enabling us to keep lending. Around 90% of our staff are working remotely at any one time yet still securely connected to our network. Many of our customer journeys are now completely paperless using digital applications, documents and e-signature systems. ID verification can now be confirmed in minutes by customers at their home, extended use of AVMs is removing the need for in-person valuations for many property cases and we are monitoring progress on new home
construction sites using videos from customers’ smartphones when QS visits aren’t possible. Most of our meetings, including our Credit
Committee, team, broker and customer meetings, have become virtual with participants connecting digitally from around the UK.
It’s far from ‘business as usual’ at UTB. But where there’s a will to lend, there’s a way, and sometimes that new way can be better.
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