Same Agent Relationship, New Technology.
Introducing new technology to process your loan application: the Lending App. The Lending App is an app on your Agent’s mobile phone which is designed to help process your loan electronically, in the comfort of your own home.
What Is The Lending App?
The Lending App is a new way to allow the Agent to electronically complete your loan. You still need to speak to your Agent and go through the loan application process and affordability assessment but instead of receiving a tear off paper copy of your agreement, we’ll send it straight to your email so you can refer to it whenever and wherever you need to.
How Does It Work?
You apply for your loan as normal. Your Agent will call and go through your loan application, including your affordability assessment. During this assessment your Agent will enter your details and the loan information into the Lending App. Once submitted this will trigger an email to your email account with an easy 3 step process to follow, along with your loan documentation and product explanation.
The Lending App 3 Step Process
Step 1– You will be sent an email containing a copy of your customer details form, a product explanation and a pre contact Agreement. Read through this information and check you’re comfortable with it.
Step 2 – Check:
- That your details listed are correct
- You’re comfortable with the loan terms and understand how the loan works- speak to your Agent if you have any questions or queries
- You can manage to repay the loan from your current income
Before continuing to step three, make sure you’re comfortable with the loan agreement. If you have any questions or concerns, speak to your Agent first.
An 11 digit Authorisation Code will then be sent to your email address. You will be asked to use this to confirm you agree to the loan. Personally type this into your Agent’s mobile phone- only you can do this as it acts as your digital signature and is unique to you and your loan agreement.
If accepted for the loan, you’ll then get another email with your signed agreement and your Agent will be able to give you the money.
What Does It Mean For Me?
You will still be completing your application form in the comfort of your own home. It means more of the application process happens online and you have your loan information stored electronically. You’ll have confirmation that your loan application has been received by head office and if you need any of this information you can then print it out, cutting down on paperwork clutter and helping the environment.
When Will It Be Introduced?
The Lending App is available now- check with your Agent to see if they’re using it.
For new customers who have never had a loan with Provident, the Lending App procedure is available now.
What Do I Need For The Lending App?
- A valid personal email address that you are comfortable receiving financial documents to.
- An internet connection where you can easily access your emails.
Is My Personal Data Safe?
I Don’t Have An Email Address, What Do I Do?
Also, check out the BBC website for more information [http://www.bbc.co.uk/webwise/0/22562918]
We understand that some customers will not have access to the internet. In this case, speak to your Agent.
I’ve Not Received My Email, What Do I Do?
In some cases your email may not appear to have come through. If this happens, check your SPAM folder in your email account and mark emails from Provident as ‘Not SPAM’.