Introducing our customer

Meet Cornwalls Melbourne, one of Australia's oldest and most prestigious law firms. Within their award-winning firm, they boast a forward-thinking Banking & Finance - Mortgage team dedicated to innovation and efficiency, always striving to streamline processes and enhance client service. 

This team, led by David, embarked on a quest for improvement and discovered SettleTech, an innovative platform that transformed the way they exchange information and track commercial finance settlements.

Cornwalls Mortgage team were focused on solutions but faced common industry challenges

David, like most team leaders, prioritises efficiency and exceptional customer service, but his team faced significant challenges. They relied on email for document distribution, resulting in a constant influx of inquiries and requests from borrowers, borrowers' lawyers, and brokers. Managing document distribution, and execution was a cumbersome task. 

Additionally, delays in loan settlements often resulted from borrower oversights in meeting agreed-upon terms and conditions. These issues were compounded by conditions precedent not being satisfied promptly, creating frustration and additional work for the team.

A timely introduction helped David make an important and informed decision 

After being introduced to SettleTech through a colleague, David quickly recognised that the platform met the necessary characteristics the Mortgage Team required and decided to proceed with a trial.

With a shared mission of achieving efficiency, David's team joined forces with SettleTech to explore platform features through test matters with the aim of fostering his team's confidence.

David commented;

"The onboarding process with SettleTech was seamless. It allowed my team to develop the necessary skills in the platform before involving external parties, providing us with the confidence to address any queries or concerns.”

 

How The Mortgage team use SettleTech to achieve results

David noted;

“With Settletech, we can upload all loan documents onto the platform and each party involved in the matter can register and log in to access and print documents.”

 

Today, David’s team uploads all loan documents onto the platform, providing seamless access to all parties. SettleTech’s visibility and tracking features ensure that all conditions precedent remain visible on the platform until reviewed and approved by a team member, clarifying outstanding requirements. SettleTech has eliminated the need for follow-up emails, phone calls, and individual updates, which were previously time-consuming and problematic. 

Utilising the Parties Involved feature, external parties are invited to collaborate on the platform, accessing loan documents and monitoring matter statuses until settlement.

“Any updates on the platform are automatically sent to all registered parties, ensuring effective communication."

David added.

The results for Cornwalls 

By using SettleTech’s full range of features, the Mortgage team have been able to forge ahead, with a continuous focus on delivering efficient settlement results. 

With SettleTech, David and his team have been able to: 

• Reduce the number of emails per transaction, leading to a significant reduction in communication overload.
• Achieve a significant reduction in time spent on a file, providing quicker and more efficient service to clients.
• Streamlined their workflow with transparent collaboration, improving overall team efficiency.
• Enhanced security by safely exchanging sensitive loan documents, ensuring the protection of private information.

Overall, SettleTech not only transformed the Mortgage Team's workflow but also had a positive impact on customer service, efficiency, and collaboration, ultimately resulting in improved results for the team and enhanced satisfaction for their clients.

David explains what’s next for him and his team,

“The Settletech team are responsive in addressing our needs and always open to enhancing our platform experience. We’re excited to continue using the platform to streamline our processes.”