RAMS Home Loans has introduced paperless processing for all its home loan applications, a move expected to speed up the system and increase conversions.  

Tony MacRae, head of operations, RAMS Home Loans, said “The move to a paperless loan application process will improve the processing capability of RAMS by reducing manual touch-points throughout the loan application process. This, in turn, will lead to faster processing times, a better experience for RAMS franchisees and brokers and ultimately a better experience for RAMS customers.  

“We anticipate that the introduction of paperless processing will not only minimise the amount of time spent locating files and retrieving information but will critically lead to an improvement in conversion rates.”  

The new system is expected to reduce the amount of paper used annually by RAMS by approximately 21,000 reams, the equivalent of 105 tonnes of CO2, as well as significantly reducing distribution and storage requirements.  

The new paperless process uses barcode technology to automatically index all documents relating to a loan application without the need for manual intervention. The system also allows lending managers to view all documents in one place directly through the origination system.  

Several weeks of testing, training and operating the new and old systems in parallel have taken place. Paperless processing is part of a wider program that will see an increase in the use of electronic lodgement of applications and the introduction of automated pre-approvals.