Creating a digital first in Canada_
The Challenge
Scotiabank are one of Canada’s ‘Big Five’ banks. They wanted to lead the Canadian market in transforming financial services, beginning by becoming the first bank in Canada with a fully digitised home ownership experience.
The opportunity
Drastically cut the time it takes to apply for a mortgage. Put customers at the heart of the process, empowering them and building the foundations for a long-term relationship. BIO worked in a strategic partnership with Tech Mahindra to achieve this goal, creating eHOME, a unique digital mortgage experience.
The Results
- 90% customers would use Scotiabank’s digital mortgage application
- 95% would recommend to a friend or family member
- From 30 days to 30 minutes to complete an end-to-end mortgage application
- 1 day to approve & 3 days to fund an application
- "Scotiabank’s eHOME app is officially the best online mortgage experience we’ve reviewed to date." Ratespy renowned and influential industry critic
Case Study Video
Shaking up the mortgage market in Canada_
We studied the Canadian mortgages market to find insights that provided the foundation for a fully digitised mortgages application. Having a user-centred design process ensures that experiences are designed around the customer whilst delivering tangible outputs quickly, with users brought in at key points to help co-create and validate the solution. We also used behavioural science nudges to help users take action and complete the journey.
The experience itself was created by BIO in agile sprints, handing off a series of tightly defined wireframes, module specs, unique page designs and an atomic toolkit to a squad of TechM developers to build the app.
Our work with Scotiabank to research, design, build and roll out the eHOME mortgage application has created an industry first and critically acclaimed solution, significantly contributing to the company’s vision to digitise the Canadian home ownership experience. eHOME has radically cut the time it takes to apply for a mortgage, shaken up the mortgage market in Canada and is still winning applause for its customer-friendly interface and transparent rates. The next exciting phase is now in development.
An industry first, with a radically time efficient mortgage application process_
"The words THANK YOU seem very inadequate because honestly I think my heart might burst with joy"
Janet Boyle
Senior Vice President, Scotiabank
Let’s make something happen_
We love collaborating with ambitious brands and people. Drop us a line to see how we can help.
London_
The BIO Agency (HQ)
90-92 Pentonville Rd
London
N1 9HS
UK
+44 20 7079 2450
Toronto_
The BIO Agency (Americas)
36 Toronto St
Suite 530
Toronto M5C 2C5
Canada
+1 416 268 2466
Work With Us_
If you’d like to discuss a new project or business challenge with us, get in touch. We’ll be happy to invite you for a coffee, a chat and the chance to meet our three resident pooches.