BeSmartee - Best Digital Process Automation Solution

Company: BeSmartee, Huntington Beach, CA
Company Description: BeSmartee® disrupts the financial services industry with its award-winning, web-based Digital Mortgage platforms for banks, credit unions and non-bank lending institutions. BeSmartee delivers a complete digital mortgage experience that goes deeper into the origination process to help lenders convert higher and close faster — making a once-cumbersome experience easy, fast and transparent for all.
Nomination Category: New Product & Service Categories - Business Technology
Nomination Sub Category: Digital Process Automation Solution

Nomination Title: BeSmartee’s SmartForm

BeSmartee’s vision to generate more leads leads for their lender partners — as well as provide their borrowers with a faster, easier and more convenient way to shop for a mortgage — led to the emergence of a brand-new product, SmartForm. The custom solution, originally built for Orange County’s Credit Union (OCCU), was released in January 2020.

Rather than requiring all of the borrower’s personal financial information upfront to determine their eligibility for a particular loan program, BeSmartee developed SmartForm to ask the borrower preliminary questions, then provide them with a personalized rate quote without forcing the borrower to go too deep into the mortgage application process.

SmartForm provides borrowers with:
An easier, more intuitive process
A faster way to receive a personalized rate quote
The ability to shop for a mortgage without having to create an account and share personal information

SmartForm benefits lenders with:

-A fully digital experience for their members. SmartForm helps with lead generation and pricing, then pushes over to SmartMortgage, BeSmartee’s Mortgage Point-of-Sale (POS) platform, where the borrower can submit a full application, if they wish.

-More control over the platform. For example, lenders can edit verbiage in the platform without having to wait for a code deployment.

-Insights into what the borrower is interested in

In an effort to provide banks, credit unions and non-bank lending institutions with more power in customizing their brand experience, BeSmartee custom developed the SmartForm solution to allow lenders to build out a workflow for their specific business cases, one that — unlike the predefined workflow of BeSmartee’s main application — they would be able to modify without requiring additional development hours.

Through the utility of SmartForm, lenders are empowered with more control over editing content, deciding the length of the borrower journey as well as determining which questions are asked along the way.

Lenders who have implemented SmartForm will continue to work with BeSmartee to further enhance the solution to meet the demands of their digital consumers with an improved borrower experience.

Lenders can go beyond digital mortgage innovation with SmartForm to push more mortgage loan applications and improve the borrower experience.

In OCCU’s case, SmartForm was delivered across the company. The team was provided full platform training and education, as well as testing to ensure adoption and business impact.

“BeSmartee’s SmartForm is a great product. It will be useful for all types of lenders because it essentially works as a pre-process to the mortgage application. SmartForm can be used to ease the process, get an idea of what the borrower is interested in and give them a personalized rate quote before they even have to apply.” — Michael Nguyen, Mortgage Technology Architect at OCCU

Based on internal data, lending institutions that utilize digital mortgage platforms — like SmartForm, which makes it easier for their borrowers to search and apply for loans — have increased their conversion to an industry best rate of 91%.

BeSmartee’s commitment to pursuing strategic innovation is manifest in SmartForm. The company continues to create opportunities for lenders to digitally guide their consumers through a fast, easy and transparent mortgage experience, ultimately helping lenders maximize ROI.

The case study attached explains how BeSmartee strategized alongside Orange County's Credit Union (OCCU) to develop and implement SmartForm.