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The non-major bank has launched a DocBox system to enable secure transfers of documents between brokers and financial institutions.
The DocBox launch follows Bankwest’s commitment to invest in digital and broker services in order to support national home loan growth and meet the evolving needs of customers.
Bankwest’s digital tool aims to allow brokers to transfer files directly to their unique case owner without the need to provide supporting documents for home loan applications to Bankwest via email or third-party services.
The non-major bank began developing the DocBox in mid-2021 and conducted research along with usability testing with brokers prior to its pilot launch in April 2022, which involved over 185 brokers providing feedback and input.
The tool reportedly received an “overwhelmingly positive” response, with more than 160 submissions and 800 documents a day on average sent to the non-major bank in the first week of full roll-out.
Bankwest’s DocBox has been integrated with specific backend systems to safeguard document security and enhance efficiencies for brokers, with supporting information linking straight to the relevant application.
Bankwest general manager, third party, Ian Rakhit stated: “Bankwest strives to be the best bank for brokers in Australia and we’re committed to meeting the changing needs and expectations of our critical broker network.
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“We’ve made a commitment to investing in digital solutions that help create the best possible experience for customers, and the development of DocBox is a significant example of that.
“Bankwest now has a fully digital home loan process, creating a far simpler and more efficient experience for brokers and their customers, while our Broker Portal empowers users to self-serve most of their needs on-demand.”
The launch of this new digital tool follows the release of Bankwest’s Safe and Savvy Report into scams, which identified more than 70 business email compromises over the last 12 months.
Bankwest reportedly recovered over $10 million from scammers in the last year, highlighting the importance of community awareness and education when it comes to scams as well as the importance of helping victims avoid actively participating in the loss of funds.
Bankwest recorded more than 7,000 customer calls during this period, with more than 2,600 of those calls being confirmed scams.
Bankwest executive manager, fraud management, Audrey Pajmon, said: “Bankwest has been part of the fabric of WA for more than 125 years, and the Safe and Savvy report is part of our ongoing support for the community.
“More than 3000 Bankwest colleagues call WA home, and we’re dedicated to supporting our families, friends, and communities on critical social issues and Scams Awareness Week helps to raise awareness of a silent scourge.”
[RELATED: $10m reclaimed from scams in 1 year: Bankwest]
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