Brazil’s Banks Invest in Loan Application Streamlining
Brazil’s prominent lenders – Caixa Econômica Federal, Banco do Brasil, Bradesco, Santander – including the have all recently announced their intention to actively search mechanisms to reduce the mortgage loan approval periods.
In an increasingly competitive market, the move was said to be on the back of Banco Itaú implementing automated procedural tools in 2009 which has seen the average approval time reduce from 180 to 12 days. According to the bank, the modular system operates as a mechanism for analysing the various steps of client analysis without any need for human input.
